Self-Rewards and Personal Motivation

Alexander Koch, Julia Nafziger, Anton Suvorov and Jeroen van de Ven ()

Economics Working Papers from Department of Economics and Business Economics, Aarhus University

Abstract: Self-administered rewards are ubiquitous. They serve as incentives for personal accomplishments and are widely recommended to increase personal motivation. We show that in a model with time-inconsistent and reference-dependent preferences, self-rewards can be a credible and effective tool to overcome self-control problems. We also characterize the type of self-rewards that can be used, such as vice goods and virtue goods, and analyze which types of goods will be preferred by the individual.

Keywords: Quasi-hyperbolic discounting; reference-dependent preferences; loss aversion; self-control; self-rewards; goals (search for similar items in EconPapers)
JEL-codes: D03 D81 D91 (search for similar items in EconPapers)
Pages: 21
Date: 2012-07-04
New Economics Papers: this item is included in nep-cbe, nep-evo, nep-exp, nep-hrm and nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Journal Article: Self-rewards and personal motivation (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:aah:aarhec:2012-14

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