Phil Jenkins

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In our intrapersonal framework, the agents are a series of short-lived doers; specifically, we assume there is a new doer each time period, say each day. The doer wants to enjoy himself and is completely selfish in that he does not care at all about any future doers. The planner, in contrast, is completely altruistic. All she¶ cares about is the utility of the series of doers. (Think of her as a benevolent dictator.) She would like them to be collectively as happy as possible, but she has limited control over the actions of the doers, especially if a doer is aroused in any way, such as by ...more
Misbehaving: The Making of Behavioral Economics
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