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Self-Rewards and Personal Motivation

Listed author(s):
  • Alexander K. Koch,

    ()

    (Department of Economics and Business, Aarhus University, Denmark)

  • Julia Nafziger

    ()

    (Department of Economics and Business, Aarhus University, Denmark)

  • Anton Suvorov

    (CEFIR and New Economic School)

  • Jeroen van de Ven

    (University of Amsterdam and Tinbergen Institute)

Self-administered rewards are ubiquitous. They serve as incentives for personal accomplishments and are widely recommended to increase personal motivation. We show that in a model with time-inconsistent and reference-dependent preferences, self-rewards can be a credible and effective tool to overcome self-control problems. We also characterize the type of self-rewards that can be used, such as vice goods and virtue goods, and analyze which types of goods will be preferred by the individual.

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File URL: ftp://ftp.econ.au.dk/afn/wp/12/wp12_14.pdf
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Paper provided by Department of Economics and Business Economics, Aarhus University in its series Economics Working Papers with number 2012-14.

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Length: 21
Date of creation: 04 Jul 2012
Handle: RePEc:aah:aarhec:2012-14
Contact details of provider: Web page: http://www.econ.au.dk/afn/

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  1. David Card & Gordon Dahl, 2009. "Family Violence and Football: The Effect of Unexpected Emotional Cues on Violent Behavior," RCER Working Papers 546, University of Rochester - Center for Economic Research (RCER).
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  3. 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.
  4. Koch, Alexander K. & Nafziger, Julia, 2009. "Commitment to Self-Rewards," IZA Discussion Papers 4049, Institute for the Study of Labor (IZA).
  5. Koszegi, Botond & Rabin, Matthew, 2004. "A Model of Reference-Dependent Preferences," Department of Economics, Working Paper Series qt0w82b6nm, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
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  11. O'Donoghue, Ted & Rabin, Matthew, 1997. "Doing It Now or Later," Department of Economics, Working Paper Series qt7t44m5b0, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
  12. Roland Bénabou & Jean Tirole, 2002. "Self-Confidence and Personal Motivation," The Quarterly Journal of Economics, Oxford University Press, vol. 117(3), pages 871-915.
  13. Nicholas Bloom & James Liang & John Roberts & Zhichun Jenny Ying, 2013. "Does working from home work? Evidence from a Chinese experiment," LSE Research Online Documents on Economics 51525, London School of Economics and Political Science, LSE Library.
  14. Hsiaw, Alice, 2013. "Goal-setting and self-control," Journal of Economic Theory, Elsevier, vol. 148(2), pages 601-626.
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  24. repec:ulb:ulbeco:2013/9639 is not listed on IDEAS
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  26. Juan D. Carrillo & Thomas Mariotti, 2000. "Strategic Ignorance as a Self-Disciplining Device," Review of Economic Studies, Oxford University Press, vol. 67(3), pages 529-544.
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  28. Paul Heidhues & Botond Koszegi, 2010. "Regular prices and sales," ESMT Research Working Papers ESMT-10-008, ESMT European School of Management and Technology.
  29. Bénabou, Roland & Tirole, Jean, 2002. "Willpower and Personal Rules," CEPR Discussion Papers 3143, C.E.P.R. Discussion Papers.
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