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Priscilla Nicole Mendoza
on Nov 25, 2024

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Self-control problems, say, among people on a diet, is caused by the cognitive bias known as time inconsistency.

Self-Control Problems

Refers to the difficulty people have in sticking with earlier plans and avoiding suboptimal decisions when finally confronted with a particular decision-making situation. A manifestation of time inconsistency and potentially avoidable by using precommitments.

Time Inconsistency

The tendency of people to change their plans about future actions due to a preference for immediate gratification over future reward.

Cognitive Bias

A systematic pattern of deviation from norm or rationality in judgment, whereby inferences about other people and situations may be drawn in an illogical fashion.

  • Understand behavioral economics' insights into self-control issues and time inconsistency.
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Natalie SilbermanNov 28, 2024
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