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This paper is concerned with the nature of temptation in stochastic choice models. In particular, we study the distinction between the two leading approaches to modeling temptation in the literature (dynamic inconsistency and costly self-control) when preferences are stochastic. We first design...
Persistent link: https://www.econbiz.de/10013221683
We say that a preference profile exhibits pairwise consensus around some fixed preference relation, if whenever a preference relation is closer to it than another one, the distance of the profile to the former is not greater than its distance to the latter. We say that a social choice rule...
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