Cobb-Clark, Deborah A.
[VerfasserIn];
Dahmann, Sarah Christina
[VerfasserIn];
Kamhöfer, Daniel A.
[VerfasserIn];
Schildberg-Hörisch, Hannah
[VerfasserIn]
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Medientyp:
Bericht;
E-Book
Titel:
Sophistication about self-control
Beteiligte:
Cobb-Clark, Deborah A.
[VerfasserIn];
Dahmann, Sarah Christina
[VerfasserIn];
Kamhöfer, Daniel A.
[VerfasserIn];
Schildberg-Hörisch, Hannah
[VerfasserIn]
Erschienen:
Düsseldorf: Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE), 2021
Anmerkungen:
Diese Datenquelle enthält auch Bestandsnachweise, die nicht zu einem Volltext führen.
Beschreibung:
We propose a broadly applicable empirical approach to classify individuals as timeconsistent versus naïve or sophisticated regarding their self-control limitations. Operationalizing our approach based on nationally representative data reveals that self-control problems are pervasive and that most people are at least partly aware of their limited self-control. Compared to naïfs, sophisticates have higher IQs, better educated parents, and are more likely to take up commitment devices. Accounting for both the level and awareness of self-control limitations has predictive power beyond one-dimensional notions of self-control that neglect awareness. Importantly, sophistication fully compensates for self-control problems when choices involve immediate costs and later benefits. Raising people's awareness of their own self-control limitations may thus assist them in overcoming any adverse consequences.