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Beliefs as a means of self-control? Evidence from a dynamic student survey

Author

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

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 afterwards. Additional analyses further support the hypothesized mechanism that beliefs serve as a means of self-control.

Suggested Citation

  • Bönisch, Felix & König, Tobias & Schweighofer-Kodritsch, Sebastian & Weizsäcker, Georg, 2026. "Beliefs as a means of self-control? Evidence from a dynamic student survey," Journal of Economic Dynamics and Control, Elsevier, vol. 184(C).
    • Handle: RePEc:eee:dyncon:v:184:y:2026:i:c:s0165188926000254
    DOI: 10.1016/j.jedc.2026.105279
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    JEL classification:

    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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