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1 The Paradox of Self-Destructive Choices |
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1 | (24) |
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1.1 What Are Self-Destructive Behaviors? |
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1 | (3) |
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1 | (1) |
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1.1.2 Associated Self-Destructive Behaviors |
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2 | (2) |
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1.2 Comparing Present and Future Rewards |
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4 | (7) |
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1.2.1 Present or Future? Choices over Time |
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4 | (3) |
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1.2.2 Present-Oriented Inclination: Subjective Discount Rates |
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7 | (2) |
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1.2.3 Bankers' Way of Time Discounting |
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9 | (2) |
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1.3 Hyperbolic Discounting and Inconsistent Decisions |
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11 | (5) |
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1.3.1 Being Swayed by the Temptation of Immediate Rewards |
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11 | (1) |
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1.3.2 Self-Destructive Procrastination |
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12 | (2) |
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1.3.3 The Self-Control Problem |
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14 | (1) |
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1.3.4 "Sophisticated" People and "Naive" People |
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15 | (1) |
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1.4 Binding Future Selves' Hands |
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16 | (1) |
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1.4.1 Binding Loose Selves |
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16 | (1) |
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17 | (1) |
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1.5 Coping with Self-Destructive Behaviors |
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17 | (8) |
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1.5.1 Knowing Oneself: Self Signaling |
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18 | (1) |
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1.5.2 How to Improve Decisions and Behaviors |
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18 | (1) |
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1.5.3 Behavioral Economics Policy Recommendations |
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19 | (2) |
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Supplement A Monkeys and Chosan-Boshi? |
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21 | (1) |
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Supplement B Measuring Personal Discount Rates |
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22 | (3) |
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25 | (18) |
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2.1 Anomalies in Intertemporal Choices |
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25 | (1) |
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2.2 Smaller Amounts Are Discounted More |
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26 | (3) |
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2.2.1 The Magnitude Effect |
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26 | (1) |
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2.2.2 Increasing Proportionate Sensitivity |
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26 | (1) |
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2.2.3 Mental Fixed Costs for Waiting |
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27 | (1) |
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28 | (1) |
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2.3 Gains Are Discounted More Than Losses |
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29 | (6) |
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29 | (1) |
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2.3.2 Decreasing Marginal Utility |
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29 | (1) |
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30 | (1) |
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2.3.4 The Sign Effect and Borrowing Aversion |
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31 | (1) |
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2.3.5 Delay/Speed-Up Asymmetry |
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32 | (1) |
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33 | (2) |
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2.4 Choosing Improving Sequences |
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35 | (7) |
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2.4.1 Choice of Gratification Sequences |
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35 | (1) |
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2.4.2 Choosing the Smaller Lifetime Income |
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36 | (2) |
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2.4.3 The Seniority-Based Wage Puzzle |
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38 | (1) |
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2.4.4 Improvements Yield Gratification |
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39 | (1) |
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2.4.5 Savoring and Habituation |
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39 | (2) |
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2.4.6 Sequence as Context |
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41 | (1) |
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42 | (1) |
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3 Hyperbolic Discounting and Self-Destructive Behaviors |
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43 | (24) |
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43 | (1) |
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3.2 More Impatient for More Immediate Gratification |
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43 | (7) |
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3.2.1 Proximal Future Choice and Distal Future Choice |
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43 | (2) |
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3.2.2 Exponential Discounting and Hyperbolic Discounting |
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45 | (4) |
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49 | (1) |
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50 | (7) |
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50 | (1) |
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3.3.2 Patient Plan with Impatient Behavior |
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51 | (4) |
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3.3.3 Procrastinating Tasks and Preproperating Leisure |
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55 | (2) |
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3.3.4 Too Much Consumption and Too Little Accumulation |
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57 | (1) |
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3.4 Mechanism of Hyperbolic Discounting |
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57 | (7) |
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3.4.1 Today Is Long: Distortion in Psychological Time |
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57 | (2) |
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3.4.2 The Certainty Effect |
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59 | (3) |
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3.4.3 The Ant and the Grasshopper in the Brain |
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62 | (2) |
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64 | (3) |
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4 Self-Control Problems of the Dual Self |
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67 | (46) |
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67 | (1) |
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4.2 Problems of the Dual Self |
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67 | (10) |
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4.2.1 The Self-Control Problem |
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67 | (1) |
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4.2.2 Pessimistic or Optimistic About Their Future Selves? |
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68 | (2) |
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4.2.3 When to Clean?: Sophistication Mitigates Procrastination |
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70 | (3) |
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4.2.4 Overly Abstentious Decision-Making |
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73 | (2) |
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4.2.5 When to See a Movie?: Sophistication Reinforces Preproperation |
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75 | (2) |
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4.3 Excessive Abstinence and Indulgence |
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77 | (5) |
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4.3.1 Self-Restraining Smart Choice to See the Grand-Prize Winning Movie |
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77 | (2) |
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4.3.2 Excessive Abstinence and Indulgence Due to Sophisticated Decisions |
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79 | (2) |
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4.3.3 Does Sophisticated Decision-Making Increase or Reduce One's Savings? |
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81 | (1) |
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4.4 Pitfalls of "Pursuing Larger Work" |
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82 | (2) |
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4.4.1 "Which Task to Work on" and "When to Work" |
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82 | (1) |
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4.4.2 Procrastination Caused by Pursuing Larger Tasks |
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83 | (1) |
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4.5 Benefit of Self-Trapping |
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84 | (3) |
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84 | (2) |
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4.5.2 Illiquid Assets and Education as Commitment Devices |
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86 | (1) |
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4.6 Theory of the "Golden Eggs" |
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87 | (10) |
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4.6.1 The Goose That Lays the Golden Eggs |
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87 | (1) |
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4.6.2 The Invalidity of the Permanent Income Hypothesis |
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88 | (4) |
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4.6.3 Consumption Propensity from Income Higher than That from Assets |
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92 | (1) |
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93 | (2) |
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4.6.5 The Ricardian Equivalence Theorem Does Not Hold |
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95 | (1) |
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4.6.6 Financial Innovation: Flexibility Versus Precommitment |
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96 | (1) |
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4.7 Naive or Sophisticated? |
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97 | (5) |
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98 | (1) |
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4.7.2 Deadlines and Efficiency |
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99 | (1) |
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4.7.3 When to Start Studying for an Examination |
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100 | (2) |
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4.8 Willpower and Self-Control |
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102 | (8) |
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102 | (1) |
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4.8.2 Willpower and Present-Oriented Tendency |
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103 | (2) |
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4.8.3 Willpower Budget and Efficient Self-Control |
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105 | (1) |
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4.8.4 Crowded Out Self-Control |
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106 | (1) |
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4.8.5 Depletion and Reproduction of Poverty |
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107 | (2) |
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4.8.6 Poverty and Adversity During Childhood |
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109 | (1) |
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110 | (3) |
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Supplement C The Tsushima Family's Precommitment |
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111 | (2) |
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5 Overborrowing, Overeating, and Addictive Behavior |
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113 | (40) |
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113 | (1) |
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5.2 Naive Income-Consumption Cycles |
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114 | (2) |
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114 | (1) |
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5.2.2 The Food-Stamp Nutrition Cycle |
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115 | (1) |
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5.2.3 The Pension-Consumption Cycle |
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115 | (1) |
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5.3 Hyperbolic Discounting and Debt Behavior |
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116 | (15) |
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116 | (2) |
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5.3.2 Swayed by a Teaser Rate But End Up Paying a Higher Interest Rate |
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118 | (3) |
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5.3.3 Self-Destructive Behavior of Payday Loan Borrowers |
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121 | (2) |
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5.3.4 Hyperbolic Discounting and Debt: The Case of Japan |
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123 | (5) |
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5.3.5 Hyperbolic Discounting and Multiple Debts |
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128 | (1) |
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5.3.6 The Sign Effect and Borrowing Aversion |
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129 | (2) |
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5.4 Obesity and Underweight |
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131 | (9) |
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5.4.1 Choosing One's Body Weight Status |
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131 | (2) |
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5.4.2 Obese People Tend to Be Indebted |
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133 | (2) |
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5.4.3 Obesity as Self-Destruction |
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135 | (3) |
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5.4.4 Choosing Being Underweight |
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138 | (2) |
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5.5 Gambling, Smoking, and Drinking |
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140 | (2) |
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142 | (11) |
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Appendix: An Illustrative Model of Hyperbolic Consumers |
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143 | (3) |
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Supplement D Obesity Criteria: Japan and the WHO |
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146 | (1) |
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Supplement E "Super Size Me": The State of Obesity in the United States and Europe |
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147 | (2) |
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Supplement F Reporting One's Own Weight as Lighter |
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149 | (4) |
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6 Coping with Self-Destructive Behavior |
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153 | (28) |
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153 | (1) |
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6.2 Means of Avoiding Self-Destructive Choices |
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154 | (10) |
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6.2.1 Taking into Account the Lenient Future Self |
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154 | (1) |
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6.2.2 The Self-Control Problem and Willpower That You Can Realize Only by Being Inconsistent |
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155 | (2) |
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6.2.3 Addressing Willpower Depletion |
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157 | (1) |
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6.2.4 Two Types of Commitment Device |
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158 | (1) |
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6.2.5 Soft Commitment Devices |
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158 | (1) |
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159 | (2) |
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6.2.7 Dividing Planning Horizon into Shorter Sub-periods |
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161 | (1) |
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6.2.8 Rounding Up the Troops While the Enemy Is Still Weak |
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162 | (1) |
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6.2.9 Hard to Be Sophisticated |
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163 | (1) |
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6.3 Interventions That Allow Choices |
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164 | (7) |
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6.3.1 Libertarian Paternalism |
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164 | (1) |
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6.3.2 "Nudging" Decision-Makers by Changing the Default |
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165 | (1) |
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6.3.3 Nudging Hyperbolic People |
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166 | (2) |
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6.3.4 Making People Commit to Future Savings |
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168 | (1) |
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6.3.5 Reverse Thinking: Asymmetric Paternalism |
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169 | (1) |
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6.3.6 Putting It into Practice |
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170 | (1) |
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171 | (7) |
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6.4.1 Interventions for Smoking Cessation |
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171 | (3) |
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174 | (2) |
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6.4.3 Intervention in the Consumer Credit Market |
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176 | (2) |
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6.5 Issues and Future Tasks |
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178 | (2) |
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180 | (1) |
References |
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181 | (6) |
Index |
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187 | |