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On the basis of empirical findings concerning state-dependent preferences, we critically discuss the \u201cAristotelian\u201d view of unitary decision makers in economics. We illustrate that the conceptualization of preferences as \u201cpresent-biased\u201d as opposed to \u201cstate-dependent\u201d has very different normative implications for which preferences should be considered \u201crational.\u201d Empirically, however, the two concepts are very difficult to distinguish. The economist can justify any paternalistic intervention if she can conceptualize changing preferences so flexibly, and she can easily become a benevolent despot. We therefore urge for a more careful \u201cHeraclitean\u201d view of decision-making that accepts that a person may consist of multiple selves.<\/jats:p>","DOI":"10.1007\/s00355-023-01471-5","type":"journal-article","created":{"date-parts":[[2023,7,14]],"date-time":"2023-07-14T04:02:05Z","timestamp":1689307325000},"page":"817-833","update-policy":"https:\/\/doi.org\/10.1007\/springer_crossmark_policy","source":"Crossref","is-referenced-by-count":1,"title":["The behavioral economics of dynamically inconsistent behavior: a critical assessment"],"prefix":"10.1007","volume":"61","author":[{"ORCID":"https:\/\/orcid.org\/0000-0003-1196-8220","authenticated-orcid":false,"given":"Sebastian","family":"Kr\u00fcgel","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Matthias","family":"Uhl","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"297","published-online":{"date-parts":[[2023,7,14]]},"reference":[{"key":"1471_CR1","unstructured":"Akerlof GA (1991) : Procrastination and Obedience. 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