Choice and Procrastination

Choice and Procrastination

2000-06-03 | O'Donoghue, Ted; Rabin, Matthew
O'Donoghue and Rabin (2000) analyze procrastination as a result of self-control problems, where individuals face a choice between multiple tasks and are partially aware of their self-control issues. They develop a model where individuals choose from a menu of tasks, considering both the immediate cost and long-term benefits. The model shows that providing additional options can lead to procrastination, as individuals may prefer to delay a more attractive but less immediate task. The authors also find that procrastination can be more severe when pursuing important goals, as the higher perceived importance increases the effort required, leading to greater delays. The paper introduces the concept of partial naivete, where individuals underestimate the magnitude of their self-control problems. This model extends previous work by incorporating both time-inconsistent preferences and partial awareness of future self-control issues. The authors argue that any degree of naivete can lead to different predictions than complete sophistication, and that restricting analysis to complete sophistication may be methodologically and empirically flawed. The paper also discusses welfare implications, showing that procrastination can lead to significant welfare losses, especially when individuals are naive about their future behavior. The results highlight the importance of choice in procrastination, demonstrating that the decision of which task to do and when to do it are influenced by different criteria, leading to potential inefficiencies and delayed actions.O'Donoghue and Rabin (2000) analyze procrastination as a result of self-control problems, where individuals face a choice between multiple tasks and are partially aware of their self-control issues. They develop a model where individuals choose from a menu of tasks, considering both the immediate cost and long-term benefits. The model shows that providing additional options can lead to procrastination, as individuals may prefer to delay a more attractive but less immediate task. The authors also find that procrastination can be more severe when pursuing important goals, as the higher perceived importance increases the effort required, leading to greater delays. The paper introduces the concept of partial naivete, where individuals underestimate the magnitude of their self-control problems. This model extends previous work by incorporating both time-inconsistent preferences and partial awareness of future self-control issues. The authors argue that any degree of naivete can lead to different predictions than complete sophistication, and that restricting analysis to complete sophistication may be methodologically and empirically flawed. The paper also discusses welfare implications, showing that procrastination can lead to significant welfare losses, especially when individuals are naive about their future behavior. The results highlight the importance of choice in procrastination, demonstrating that the decision of which task to do and when to do it are influenced by different criteria, leading to potential inefficiencies and delayed actions.
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