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Beliefs as a Means of Self-Control? Evidence from a Dynamic Student Survey

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  • Felix Bönisch
  • Tobias König
  • Sebastian Schweighofer-Kodritsch
  • Georg Weizsäcker

Abstract

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 exam approaches, and drop post-exam. Exploiting variation in exam timing to control for common information shocks, we find this prediction confirmed: average believed study returns increase by about 20% over the period before the exam, and drop by about the same amount afterwards. Additional analyses further support the hypothesized mechanism that beliefs serve as a means of self-control.

Suggested Citation

  • Felix Bönisch & Tobias König & Sebastian Schweighofer-Kodritsch & Georg Weizsäcker, 2023. "Beliefs as a Means of Self-Control? Evidence from a Dynamic Student Survey," Berlin School of Economics Discussion Papers 0014, Berlin School of Economics.
    • Handle: RePEc:bdp:dpaper:0014
    DOI: 10.48462/opus4-4945
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • I26 - Health, Education, and Welfare - - Education - - - Returns to Education

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