Multi-Self Model and the Dual-Self Model Approaches to Self-Control Essay

Multi-Self Model and the Dual-Self Model Approaches to Self-Control Problems - Essay Example jibe to the research findings, it can, therefore, be said that the multi-self model is a complex topic in behavioral economics. Authors like Ambrus and Rozen have described it as a broader conception in the form of an array of self-control concepts or theories. As such, the concept of aggregator appears at the center of this approach. The aggregator can be understood as a behavioral and psychometric mechanism that organizes the available choices before the person. The aggregator factors cumulate a suitable prioritized list of choices, and the individuals sense of judicious behavior ultimately leads him or her to select the most appropriate one for oneself. However, in the deep trenches of mind and thought processes, this one self is actually consisting of umteen selves. Hence, according to Ambrus and Rozen, one of the most important characteristics of a given set of aggregators is that th e aggregation can be dependent on the consumers economic utilities and objectives. Therefore, if an individual is considered as a coherence of more than one economic self, then preferences of oneself may differ from that of another. Consequently, several contemporary models of multi-self decision-making utilize pieces of cardinal information that atomic number 18 embedded in the utility functions of an individuals diverse economic selves. Aggregators being considered as the fundamentals of utility functions can also be specify as the intensity of preferences, which are capable of molding the dynamics of intra-personal economic decisions. However, this paradigm can be extended to inter-personal economic decisions too.