How much time-inconsistency is there and does it matter? Evidence on self-awareness, size, and effects
AbstractUsing students' predicted and unpredicted delays in midterm preparation as measures of time-inconsistency and self-awareness, this paper shows that time-inconsistent behavior is associated with inferior class performance even after controlling for the actual time spent in preparation. Most students showed some time-inconsistency. Most were at least partially aware of their time-inconsistency. Despite full awareness, the sophisticates still under-performed in class relative to the time-consistent. Furthermore, they might still show over-confidence in their self-evaluation of future class performance. Those naive about future time-inconsistency also under-performed relative to the time-consistent.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Behavior & Organization.
Volume (Year): 68 (2008)
Issue (Month): 3-4 (December)
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Web page: http://www.elsevier.com/locate/jebo
Time-inconsistency Self-awareness Present-biased preferences Procrastination;
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