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Increasing workload in a stochastic environment

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  • Weinschenk, Philipp

Abstract

We show that a steeply increasing workload before a deadline is compatible with time-consistent preferences. The key departure from the literature is that we consider a stochastic environment where success of effort is not guaranteed.

Suggested Citation

  • Weinschenk, Philipp, 2012. "Increasing workload in a stochastic environment," Economics Letters, Elsevier, vol. 115(2), pages 286-288.
  • Handle: RePEc:eee:ecolet:v:115:y:2012:i:2:p:286-288
    DOI: 10.1016/j.econlet.2011.12.055
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    References listed on IDEAS

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    1. Matthew Rabin & Ted O'Donoghue, 1999. "Doing It Now or Later," American Economic Review, American Economic Association, vol. 89(1), pages 103-124, March.
    2. Ted O'Donoghue & Matthew Rabin, 2001. "Choice and Procrastination," The Quarterly Journal of Economics, Oxford University Press, vol. 116(1), pages 121-160.
    3. Brocas, Isabelle & Carrillo, Juan D, 2001. "Rush and Procrastination under Hyperbolic Discounting and Interdependent Activities," Journal of Risk and Uncertainty, Springer, vol. 22(2), pages 141-164, March.
    4. Fischer, Carolyn, 2001. "Read this paper later: procrastination with time-consistent preferences," Journal of Economic Behavior & Organization, Elsevier, vol. 46(3), pages 249-269, November.
    5. Akerlof, George A, 1991. "Procrastination and Obedience," American Economic Review, American Economic Association, vol. 81(2), pages 1-19, May.
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    Cited by:

    1. Michaelis, Jochen & Schwanebeck, Benjamin, 2016. "Examination rules and student effort," Economics Letters, Elsevier, vol. 145(C), pages 65-68.

    More about this item

    Keywords

    Increasing workload; Deadline; Stochasticity;

    JEL classification:

    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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