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How much time-inconsistency is there and does it matter? Evidence on self-awareness, size, and effects

Listed author(s):
  • Wong, Wei-Kang

Using 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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File URL: http://www.sciencedirect.com/science/article/pii/S0167-2681(08)00186-8
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Article provided by Elsevier in its journal Journal of Economic Behavior & Organization.

Volume (Year): 68 (2008)
Issue (Month): 3-4 (December)
Pages: 645-656

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Handle: RePEc:eee:jeborg:v:68:y:2008:i:3-4:p:645-656
Contact details of provider: Web page: http://www.elsevier.com/locate/jebo

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