Choice and Procrastination
JEL#: 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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