Behavioral Economics Udayan Roy

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Presentation transcript:

Behavioral Economics Udayan Roy Self-control Behavioral Economics Udayan Roy

Reading Predictably Irrational, Chapter 7, The Problem of Procrastination and Self-Control Nudge, Chapter 2, Resisting Temptation

Why do we lack self-control? Hyperbolic discounting Availability bias

What can we do? To deal with hyperbolic discounting Pre-commitment Mental accounts Technology Government policies Combining pleasant activities with unpleasant ones Calming down To deal with availability bias Changing life environment