English, Article, Journal or magazine article edition: WEAKNESS OF WILL Elias Khalil

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Bookmark: http://trove.nla.gov.au/version/16419
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • WEAKNESS OF WILL
Author
  • Elias Khalil
Physical Description
  • preprint
Notes
  • RePEc:mos:moswps:2006-06
  • The dominant view regards weakness of will an anomaly facing the standard theory of rationality. The paper argues the opposite: What is anomalous is that weakness of will is not pervasive enough. In a simple model, the paper shows that weakness of will is the dominant strategy in a game between current self and future self. This leads to the motivating question of the paper: Why is weakness of will is not pervasive—given that precommitment and punishment are not sufficiently pervasive to remedy the weakness of will? The paper argues that the answer lies in what Adam Smith calls the “propriety†mechanism: Humans demand self-respect and, hence, exercise self-command over appetites and emotions.
  • property of others (justice); property of future self (prudence); decision-action gap (weakness of will); mechanisms (precommitment and propriety); trust; appetites and emotions; libertarian paternalism.
  • RePEc:msh:moswps:2006-06
Language
  • English
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