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Procrastination and ImpatienceErnesto ReubenColumbia Business School - Management; Institute for the Study of Labor (IZA) Paola SapienzaNorthwestern University - Kellogg School of Management - Department of Finance; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR) Luigi ZingalesUniversity 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 Abstract: 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, D90 working papers seriesDate posted: August 24, 2011Suggested CitationContact Information
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