Procrastination and Impatience

42 Pages Posted: 24 Aug 2011

See all articles by Ernesto Reuben

Ernesto Reuben

New York University (NYU) - New York University, Abu Dhabi; IZA Institute of Labor Economics

Paola Sapienza

Northwestern University - Kellogg School of Management - Department of Finance; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR)

Luigi Zingales

University of Chicago - Booth School of Business; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR); European Corporate Governance Institute (ECGI)

Multiple version iconThere are 4 versions of this paper

Date Written: May 1, 2010

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.

Keywords: procrastination, impatience, hyperbolic discounting, discount rates

JEL Classification: D01, D03, D90

Suggested Citation

Reuben, Ernesto and Sapienza, Paola and Zingales, Luigi, Procrastination and Impatience (May 1, 2010). Columbia Business School Research Paper, Available at SSRN: https://ssrn.com/abstract=1915467 or http://dx.doi.org/10.2139/ssrn.1915467

Ernesto Reuben (Contact Author)

New York University (NYU) - New York University, Abu Dhabi ( email )

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Abu Dhabi
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IZA Institute of Labor Economics

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Paola Sapienza

Northwestern University - Kellogg School of Management - Department of Finance ( email )

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National Bureau of Economic Research (NBER)

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Luigi Zingales

University of Chicago - Booth School of Business ( email )

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Belgium

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