We apply the methodology of information economics in an intra-person multiple-self setting to model the relation between one's economic well being and state of consciousness, including amnesia and delusion, that may underpin some categories of mental (dis-)order. We posit the notion of semi-conscious choice in which the individual habituates, through long-term intra-personal interactions, into being strategically" forgetful or delusional to enhance the motivation of one's future selves. We endogenize the individual's habituated state of recall error proneness in equilibrium from his attitude towards intertemporal discounting, including present bias. We further study the ex ante welfare of the decision maker in relation to his equilibrated state of consciousness and offer it as an econom...[ Read more ]

We apply the methodology of information economics in an intra-person multiple-self setting to model the relation between one's economic well being and state of consciousness, including amnesia and delusion, that may underpin some categories of mental (dis-)order. We posit the notion of semi-conscious choice in which the individual habituates, through long-term intra-personal interactions, into being strategically" forgetful or delusional to enhance the motivation of one's future selves. We endogenize the individual's habituated state of recall error proneness in equilibrium from his attitude towards intertemporal discounting, including present bias. We further study the ex ante welfare of the decision maker in relation to his equilibrated state of consciousness and offer it as an economic measure of his mental well being.