Matthew Rabin's 2001 paper "A Model of Impulse Control"

Matthew Rabin's 2001 paper "A Model of Impulse Control" explores why people often act against their long-term best interests due to immediate temptations. The model shows that individuals weigh the immediate gratification of a choice higher than future benefits, leading to impulsive decisions. Rabin introduces a framework where self-control problems can be formalized, explaining behaviors like procrastination or addiction. This approach helps economists understand why people sometimes make inconsistent choices and offers insights into designing policies or interventions to improve self-control and decision-making over time.