Choice and Procrastination
AbstractJEL#: A12, B49, C70, D11, D60, D74, D91, E21 Keywords: choice, naivete, partial naivete, present-biased preferences, procrastination, self control, sophistication, time inconsistency Recent models of procrastination due to self-control problems assume that a procrastinator considers just one option and is unaware of her self-control problems. We develop a model where a person chooses from a menu of options and is partially aware of her self-control problems. This menu model replicates earlier results and generates new ones. A person might forego completing an attractive option because she plans to complete a more attractive but never-to-be-completed option. Hence, providing a non-procrastinator additional options can induce procrastination, and a person may procrastinate worse pursuing important goals than unimportant ones. June 2000
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Bibliographic InfoPaper provided by University of California at Berkeley in its series Economics Working Papers with number E00-281.
Date of creation: 01 Jun 2000
Date of revision:
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Postal: University of California at Berkeley, Berkeley, CA USA
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Other versions of this item:
- O'Donoghue, Ted & Rabin, Matthew, 2000. "Choice and Procrastination," Department of Economics, Working Paper Series qt5r26k54p, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Ted O' Donoghue & Matthew Rabin, 2001. "Choice and Procrastination," Microeconomics 0012002, EconWPA.
- A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
- B49 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Other
- C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- D60 - Microeconomics - - Welfare Economics - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2000-08-15 (All new papers)
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Department of Economics, Working Paper Series
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