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Persistent link: https://www.econbiz.de/10010228985
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
This paper studies the role of goal bracketing to attenuate time inconsistency. When setting non-binding goals for a multi-stage project, an agent must also decide how and when to evaluate himself against such goals. In particular, he can bracket broadly by setting an aggregate goal for the...
Persistent link: https://www.econbiz.de/10012979882
Higher order risk preferences are well-known for their relation with precautionary saving or portfolio allocation … measures of higher order risk preferences with field behavior. Field behavior is collected in an extensive survey, where we … findings on financial decision making and higher order risk preferences, and find that prudence is a strong predictor for …
Persistent link: https://www.econbiz.de/10012438117
-making (i.e., financial knowledge, behavioral consistency, economic preferences, field behavior, and perception of financial …
Persistent link: https://www.econbiz.de/10013483340
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
Persistent link: https://www.econbiz.de/10011874356
Persistent link: https://www.econbiz.de/10012212331
In this paper, I propose a simple model in which behavior is determined by the individual's attitude towards the behavior and the attitude depends on the individual's values. The model is based on the Schwartz theory of human values, which is very prominent in social psychology. Values are...
Persistent link: https://www.econbiz.de/10011932108
We investigate whether depleting people's cognitive resources (or "willpower") affects the degree to which they are susceptible to framing effects. Recent research in social psychology and economics has suggested that willpower is a resource that can be temporarily depleted and that a depleted...
Persistent link: https://www.econbiz.de/10009793156