Why Do We Procrastinate? Present Bias and Optimism

Arbeitspapier

Research has shown that procrastination has signicant adverse effects on individuals, including lower savings and poorer health. Procrastination is typically modeled as resulting from present bias. In this paper we study an alternative: excessively optimistic beliefs about future demands on an individual's time. The models can be distinguished by how individuals respond to information on their past choices. Experimental results refute the hypothesis that present bias is the sole source of dynamic inconsistency, but they are consistent with optimism. These findings offer an explanation for low takeup of commitment and suggest that personalized information on past choices can mitigate procrastination.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: IZA Discussion Papers ; No. 13060

Classification and Topics

• Classification: Wirtschaft ; Micro-Based Behavioral Economics: General‡ ; Expectations; Speculations ; Intertemporal Household Choice; Life Cycle Models and Saving ; Time Allocation and Labor Supply
• Subject: discounting ; beliefs ; dynamic inconsistency ; real effort

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Breig, Zachary ; Gibson, Matthew ; Shrader, Jeffrey G.
• Event: Veröffentlichung
• (who): Institute of Labor Economics (IZA)
• (where): Bonn
• (when): 2020

Further information

• Handle: http://hdl.handle.net/10419/216372
• Last update: 10.03.2025, 11:43 AM CET