Abstract

http://ssrn.com/abstract=1096177
 
 

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Procrastination and Impatience


Ernesto Reuben


Columbia Business School - Management; Institute for the Study of Labor (IZA)

Luigi Zingales


University of Chicago - Booth School of Business; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR); University of Chicago - Polsky Center for Entrepreneurship; European Corporate Governance Institute (ECGI)

Paola Sapienza


Northwestern University - Kellogg School of Management - Department of Finance; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR)

December 2007

NBER Working Paper No. w13713

Abstract:     
There is a large body of literature documenting both a preference for immediacy and a tendency to procrastinate. O'Donoghue and Rabin (1999a,b, 2001) and Choi et al. (2005) model these behaviors as the two faces of the same phenomenon. In this paper, we use a combination of lab, field, and survey evidence to study whether these two types of behavior are indeed linked. To measure immediacy we had subjects choose between a series of smaller-sooner and larger-later rewards. Both rewards were paid with a check in order to control for transaction costs. To measure procrastination we use the subjects' actual behavior in cashing the check and completing tasks on time. Our results lend support to the hypothesis that subjects who have a preference for immediacy are indeed more likely to procrastinate.

Number of Pages in PDF File: 42

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Date posted: February 21, 2008  

Suggested Citation

Reuben, Ernesto and Zingales, Luigi and Sapienza, Paola, Procrastination and Impatience (December 2007). NBER Working Paper No. w13713. Available at SSRN: http://ssrn.com/abstract=1096177

Contact Information

Ernesto Reuben
Columbia Business School - Management ( email )
3022 Broadway
New York, NY 10027
United States

Institute for the Study of Labor (IZA)
P.O. Box 7240
Bonn, D-53072
Germany
Luigi Zingales (Contact Author)
University of Chicago - Booth School of Business ( email )
5807 S. Woodlawn Avenue
Chicago, IL 60637
United States
773-702-3196 (Phone)
773-834-2081 (Fax)

Chicago Booth School of Business Logo

National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Centre for Economic Policy Research (CEPR)
77 Bastwick Street
London, EC1V 3PZ
United Kingdom
University of Chicago - Polsky Center for Entrepreneurship
Chicago, IL 60637
United States
European Corporate Governance Institute (ECGI)
c/o ECARES ULB CP 114
B-1050 Brussels
Belgium
HOME PAGE: http://www.ecgi.org
Paola Sapienza
Northwestern University - Kellogg School of Management - Department of Finance ( email )
Evanston, IL 60208
United States
847-491-7436 (Phone)
847-491-5719 (Fax)
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Centre for Economic Policy Research (CEPR)
77 Bastwick Street
London, EC1V 3PZ
United Kingdom
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