Self-rewards and personal motivation

Alexander Koch, Julia Nafziger, Anton Suvorov and Jeroen van de Ven (j.vandeven@uva.nl)

European Economic Review, 2014, vol. 68, issue C, 151-167

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 discuss the different types of self-rewards the individual can use, such as vice goods and virtue goods, and analyze which types of goods the individual prefers.

Keywords: Quasi-hyperbolic discounting; Reference-dependent preferences; Self-control; Self-rewards; Goals (search for similar items in EconPapers)
JEL-codes: D03 D81 D91 (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations: View citations in EconPapers (14)

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Related works:
Working Paper: Self-Rewards and Personal Motivation (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eecrev:v:68:y:2014:i:c:p:151-167

DOI: 10.1016/j.euroecorev.2014.03.002

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