Impulsive Behavior and the Battle Between Our Current and Future Selves: Should Free Markets Be Regulated to Protect People's Long-Term Interests?
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- Synopsis
- It's amazing how frequently we are faced with choices between immediate and delayed gratification. A dieter chooses between the short-term joys of a cupcake and the long-term benefits of losing weight. A young couple decides between the immediate gratification of splurging on an expensive trip or the delayed benefits of investing in retirement. Are such preferences for now or later rational or irrational? Should people be left alone to make such choices, or should society intervene to direct people toward wise long-term behaviors? This chapter considers these questions, and their implications for free market theory. This chapter is excerpted from "Free Market Madness: Why Human Nature Is at Odds with Economics--and Why It Matters."
- Copyright:
- 2009
Book Details
- Book Quality:
- Publisher Quality
- Publisher:
- Harvard Business Publishing
- Date of Addition:
- 08/02/16
- Copyrighted By:
- HBS Press
- Adult content:
- No
- Language:
- English
- Has Image Descriptions:
- No
- Categories:
- Nonfiction, Business and Finance
- Submitted By:
- Bookshare Staff
- Usage Restrictions:
- This is a copyrighted book.