Choice and Procrastination

Abstract

Recent models of procrastination due to self-control problems assume that a procrastinator considers just one option and is unaware of her self-control problems. We develop a model where a person chooses from a menu of options and is partially aware of her self-control problems. This menu model replicates earlier results and generates new ones. A person might forego completing an attractive option because she plans to complete a more attractive but never-to-be-completed option. Hence, providing a non-procrastinator additional options can induce procrastination, and a person may procrastinate worse pursuing important goals than unimportant ones.

Keywords: Choice, Naivete, Partial Naivete, Present-Biased Preferences, Procrastination, Self Control, Sophistication, Time Inconsistency

JEL Classification: A12, B49, C70, D11, D60, D74, D91, E21