Examlex
Jessica might struggle to calculate the correct amount to tip at a restaurant because of her deficits in
Precommitments
Actions taken ahead of time that make it difficult for the future self to avoid doing what the present self desires. See time inconsistency and self-control problems.
Self-Control Problems
Self-control problems refer to situations where individuals struggle to resist short-term temptations in order to achieve long-term goals, often leading to impulsive behavior.
Time Inconsistency
The tendency for a person or group to change their plan or perspective over time in ways that can be counterproductive.
Preferences
Individual choices or tastes that determine the selection of goods and services over others based on factors like utility, convenience, or price.
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