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A bazaar of opinions mostly fit within picoeconomics

Published online by Cambridge University Press:  25 October 2005

George Ainslie*
Affiliation:
Veterans Affairs Medical Center, Department 116A, Coatesville, PA19320 and Temple Medical College, Philadelphia, PA19140www.Picoeconomics.com

Abstract

The will has generated a wider range of opinions than most phenomena, lacking as it does both an animal model and consistent behavioral correlates. It has even been held not to exist. The commentators approached my intertemporal bargaining (picoeconomic) model from many angles. Doubts about the existence of the underlying phenomenon, hyperbolic discounting, were still raised by some, but other commentators added to the evidence for it, which I regard now as overwhelming. Where mechanisms of self-control were specified, I found it possible to place them within a picoeconomic framework.

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Copyright © Cambridge University Press 2005

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