Daniel Kuehn Sides with Socrates and Plato; Unfortunately, Aristotle Was Right
Nobody who genuinely understands the time inconsistency problem is ever going to be in a position where in the short-run they want something that is inconsistent in the long-run, because anybody who genuinely understands the time inconsistency problem (or really any number of other “unintended consequences” type problems like it) is going to knowingly cut off their nose to spite their face like that.This was the position adopted Socrates and Plato: "No one goes willingly toward the bad." But it is wrong. It fails to account for akrasia: weakness of the will. I can testify with certainty that, for an entire month, while perfectly aware that I was engaging in hyperbolic discounting, I still night after night failed to unfold the sofa bed upon which I was to sleep because it seemed like to much trouble that night.