Abstract
In this paper, we analyze an intra-personal game where a decision-maker is summarized by a succession of selves. Selves may (or may not) have conflicting interests, and earlier selves may have imperfect knowledge of the preferences of future selves. At date 1, self-1 chooses a menu, at date 2, the preferences of self-2 realize and self-2 chooses an item from the menu. We show that equilibrium choice is consistent with either a preference for flexibility, a preference for betweenness or a preference for systematic restriction. Overall, the analysis reconciles the decision–theoretic approach of choice over time with the game–theoretic multiple-selves approach.
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This research has benefited from early discussions with Marc Henry. I am also grateful to Juan Carrillo for comments.
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Brocas, I. Dynamic inconsistency and choice. Theory Decis 71, 343–364 (2011). https://doi.org/10.1007/s11238-009-9183-x
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DOI: https://doi.org/10.1007/s11238-009-9183-x