Obesity and time-inconsistent preferences

SummaryAs obesity becomes a major health and economic issue of the current age, interventions and policies are being targeted to influence individuals’ diet and exercise behaviors. Examining the deviations of reality from a baseline model of rational choice provides insights into the economic rationales for interventions to modify individuals’ choices. In addition to the more classical economic rationales for intervention, insights from behavioral economics and psychology have recently led to a focus on the role of time-inconsistent preferences, in particular present-biased preferences, in the choices that lead to obesity. While individuals can use self-control techniques to mitigate the problem, there is also potential for targeted interventions and policies to improve the welfare of individuals. Further interdisciplinary research in the area may lead to behavioral obesity interventions tailored to individuals’ incentives, resulting in higher compliance rates.