Journal
JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION
Volume 49, Issue 1, Pages 113-130Publisher
ELSEVIER
DOI: 10.1016/S0167-2681(02)00061-6
Keywords
choice; emotion; inhibition; learning; self-control
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A biology-based model of choice is used to examine time-inconsistent preferences and the problem of self-control. Emotion is shown to be the biological substrate of choice, in that emotional systems assign value to 'goods' in the environment and also facilitate the learning of expectations regarding alternative options for acquiring those goods. A third major function of the emotional choice systems is motivation. Self-control is shown to be the result of a problem with the inhibition of the motive force of emotion, where this inhibition is necessary for higher level deliberation. (C) 2002 Elsevier Science B.V. All rights reserved.
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