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T-Space at The University of Toronto Libraries >
Theoretical Economics >
Volume 2, Number 3 (September 2007) >

Please use this identifier to cite or link to this item: http://hdl.handle.net/1807/10108

Title: Cold feet
Authors: Larry G. Epstein; Boston University
Igor Kopylov; UC Irvine
Keywords: Pessimism, optimism, cold feet, temptation, self-control, moment of truth, temporal proximity, confidence
D80, D81
Issue Date: 5-Sep-2007
Publisher: Theoretical Economics
Citation: Theoretical Economics; Vol 2, No 3 (2007)
Abstract: [This item is a preserved copy. To view the original, visit http://econtheory.org/] Individuals often lose confidence in their prospects as they approach the `moment of truth.' An axiomatic model of such individuals is provided. The model adapts and extends (by relaxing the Independence axiom) Gul and Pesendorfer's model of temptation and self-control to capture an individual who changes her beliefs so as to become more pessimistic as payoff time approaches. In a variation of the model, the individual becomes more optimistic at an ex post stage in order to feel better about her available options.
URI: http://hdl.handle.net/1807/10108
Other Identifiers: http://econtheory.org/ojs/index.php/te/article/view/20070231
Rights: Authors who publish in <i>Theoretical Economics</i> will release their articles under the <a href="http://creativecommons.org/licenses/by-nc/2.5/">Creative Commons Attribution-NonCommercial license</a>. This license allows anyone to copy and distribute the article for non-commercial purposes provided that appropriate attribution is given.
Appears in Collections:Volume 2, Number 3 (September 2007)

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