Akrasia

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Akrasia is the phenomenon of acting against one's better judgment. This Demonstration contains an economic theory of akrasia control.
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Contributed by: Seth J. Chandler (March 2011)
Open content licensed under CC BY-NC-SA
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In this model, education reduces the variability of the discount rate the potential wrongdoer employs and thus reduces the probability of akrasia. Effort on education, punishment and enforcement all exhibit diminishing marginal returns. A useful discussion of akrasia may be found in:
R. Cooter and T. Ulen, Law and Economics, 5th ed., Boston: Addison Wesley, 2007.
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"Akrasia"
http://demonstrations.wolfram.com/Akrasia/
Wolfram Demonstrations Project
Published: March 7 2011