We study a dynamic model of self-control where the history of ones decisions (understood as emotions) has inuence on subsequent decision making. We propose that effort and regret are emotions produced by previous decisions to either resist or yield to temptation, respectively. When recalled, these emotions affect an individual's preferences, in turn affecting self-control decision at a particular point in time. Our model provides a uni ed explanation for several empirical regularities puzzling economists and cognitive scientists. We explain non-stationary consumption paths characterized by compensatory indulgence and restraint cycles, why the amplitude of consumption cycles increases with foresight and decreases with emotional mem- ory, and, nally, we show how unavoidable options that might show up on ones menu inuence choices, consequent emotions, consumption paths, and preferences for commitment.
Gómez-Miñambres, J. and Schniter, E. (2012). Menu-dependent emotions and self-control. ESI Working Paper 12-20. Retrieved from http://digitalcommons.chapman.edu/esi_working_papers/69