Working Paper: NBER ID: w19874
Authors: Alberto Bisin; Kyle Hyndman
Abstract: We study procrastination in the context of a field experiment involving students who must exert costly effort to complete certain tasks by a fixed deadline. Descriptively, we document a strong demand for commitment, in the form of self-imposed deadlines, which appear to be associated with students' self-reported psychological characteristics and cost of time. We structurally estimate students' present-bias and cost of time by fitting the experimental data to a stylized stopping time choice model. We find that present-bias is relatively widespread but that having multiple repeated tasks appears to activate effective internal self-control mechanisms. Finally, we also document an important form of partial naïveté on the part of students in anticipating their ability to self-control when setting deadlines.
Keywords: Procrastination; Present Bias; Deadlines; Field Experiment
JEL Codes: D03
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| Present Bias (D15) | Procrastination Behavior (D91) |
| Multiple Tasks (Y80) | Internal Self-Control Mechanisms Activation (D91) |
| Internal Self-Control Mechanisms Activation (D91) | Absence of Present Bias (D15) |
| Self-Imposed Deadlines (C41) | Task Completion Rates (Y10) |
| Present Bias (D15) | Perception of Cost of Time (J29) |
| Partial Naivete (Y60) | Self-Imposed Binding Deadlines (Y20) |