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    188宝金博页面版: Collective Self-Control

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    内容提示： Collective Self-ControlAlessandro Lizzeri ? Leeat Yariv ??November 24, 2015AbstractBehavioral economics presents a “paternalistic” rationale for a benevolent govern-ment’s intervention. We consider an economy where the only “distortion” is agents’time inconsistency. We study the desirability of various forms of collective action, onespertaining to costly commitment and ones pertaining to the timing of consumption,when government decisions respond to voters’ preferences via the political process.T...

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    Collective Self-ControlAlessandro Lizzeri ∗ Leeat Yariv †‡November 24, 2015AbstractBehavioral economics presents a “paternalistic” rationale for a benevolent govern-ment’s intervention. We consider an economy where the only “distortion” is agents’time inconsistency. We study the desirability of various forms of collective action, onespertaining to costly commitment and ones pertaining to the timing of consumption,when government decisions respond to voters’ preferences via the political process.Three messages emerge. First, welfare is highest under either full centralization or lais-sez faire. Second, introducing collective action only on consumption decisions yieldsno commitment. Last, individuals’ relative preferences for commitment may reversedepending on whether future consumption decisions are centralized or not.Keywords: Behavioral Political Economy, Time Inconsistency, Hyperbolic Dis-counting.∗ Department of Economics, NYU. E-mail: alessandro.lizzeri@nyu.edu† Division of the Humanities and Social Sciences, Caltech. E-mail: lyariv@hss.caltech.edu‡ We thank Wolfgang Pesendorfer, Alessandro Riboni, Nikita Roketskiy, and Michael Ting for very helpfulconversations and feedback and Euncheol Shin for superb research assistance. We gratefully acknowledge fi-nancial support from the National Science Foundation and the Gordon and Betty Moore Foundation (throughgrant 1158).1

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