Procrastination and Impatience
Columbia Business School - Management; Institute for the Study of Labor (IZA)
Northwestern University - Kellogg School of Management - Department of Finance; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR)
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)
May 1, 2010
Columbia Business School Research Paper
We use a combination of lab and field evidence to study whether preferences for immediacy and the tendency to procrastinate are connected as in O'Donoghue and Rabin (1999a). To measure immediacy, we have participants choose between smaller-sooner and larger-later rewards. Both rewards are paid by check to control for transaction costs. To measure procrastination, we record how fast participants cash their checks and complete other tasks. We find that individuals with a preference for immediacy are more likely to procrastinate. We also find evidence that individuals differ in the degree to which they anticipate their own procrastination.
Number of Pages in PDF File: 42
Keywords: procrastination, impatience, hyperbolic discounting, discount rates
JEL Classification: D01, D03, D90working papers series
Date posted: August 24, 2011
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