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Intertemporal tradeoffs play a key role in many personal decisions and policy questions. We describe models of intertemporal choice, identify empirical regularities in choice, and pose new questions for research. The focus for intertemporal choice research is no longer whether the exponential...
Persistent link: https://www.econbiz.de/10014023383
We repeatedly elicit beliefs about the returns to study effort, in a large university course. A behavioral model of quasi-hyperbolic discounting and malleable beliefs predicts that the dynamics of beliefs mirrors the importance of exerting self-control, such that believed returns increase as the...
Persistent link: https://www.econbiz.de/10014490754
We study in an online, real-effort experiment how the bracketing of non-binding goals affects performance in a work-leisure self-control problem. We externally induce the goal bracket - daily goals or a weekly goal - and within that bracket let subjects set goals for how much they want to work...
Persistent link: https://www.econbiz.de/10011724493
preferences featuring temptation and self-control. The model can capture two contrasting views: the positive view, which links … increase in indebtedness. The welfare implication is strikingly dif- ferent from the standard model without temptation, which … welfare gains from a tighter borrowing limit than in 2000s, theoptimal borrowing limit is tighter according to the temptation …
Persistent link: https://www.econbiz.de/10011756832
), the procrastination of learning can occur even when the learning cost is zero. The procrastination also leads to a non …
Persistent link: https://www.econbiz.de/10012118521
Persistent link: https://www.econbiz.de/10015048858
The model of time-inconsistent procrastination by O'Donoughe and Rabin shows that individuals who are not aware of …
Persistent link: https://www.econbiz.de/10011648423
Procrastination is often attributed to time-inconsistent preferences but may also arise when individuals derive … for this notion of ‘motivated procrastination’. In a longitudinal experiment over four weeks, individuals must complete a … motivated memory, such that procrastination may persist even if uncertainty is eventually resolved. …
Persistent link: https://www.econbiz.de/10014517966
Traditionally, economic models have attributed procrastination to present bias. However, procrastination may also arise … to complete. This study provides a rigorous empirical test for this notion of `motivated procrastination'. In a … (motivated procrastination) turns out to be robust to accounting for decision-makers' time preferences and emotional responses …
Persistent link: https://www.econbiz.de/10014487122
Numerous laboratory studies report on behaviors inconsistent with rational economic models. How much do these inconsistencies matter in natural settings, when consumers make large, real decisions and have the opportunity to learn from experiences? We report on a field experiment designed to...
Persistent link: https://www.econbiz.de/10010369232