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A Model of Guilt and Temptation
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Abstract
Guilt is a painful emotion that can a®ect choice behavior. We study behavioral e®ects of guilt for preferences over menus. We extend Gul and Pesendorfer's model of temptation by relaxing their axiom of Set-Betweenness. We obtain a utility representation that identi¯es the decision maker's normative and temptation rankings, her cost of self-control, and an additional cost of guilt that she incurs if her choice in a feasible menu does not comply with her normative ranking. Her proneness to guilt is described by a subjective parameter in this representation.
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