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Self-control at College

Author

Listed:
  • Gervas Huxley
  • Mike W. Peacey

Abstract

In this paper we develop the observation that college students may suffer from self-control problems (O'Donoghue and Rabin (2007)). In our model students face a self-control problem when making choices about how to learn: students acquire education using different combinations of study and tuition (S and T). We consider an ‘asymmetric’ self-control problem, where students can commit to T but not S and investigate how this affects their decisions. We show that the degree of self-awareness interacts with how students learn and how this determines the ability to self-correct by precommitment. Finally we show how the appropriate pricing of tuition can ameliorate these problems.

Suggested Citation

  • Gervas Huxley & Mike W. Peacey, 2016. "Self-control at College," Bristol Economics Discussion Papers 16/675, School of Economics, University of Bristol, UK.
    • Handle: RePEc:bri:uobdis:16/675
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    References listed on IDEAS

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    More about this item

    Keywords

    Human Capital; Learning; Self-control; Hyperbolic Discounting.;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • I20 - Health, Education, and Welfare - - Education - - - General
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions

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