Inconsistent Planning and the Allocation of Tasks Over Time

Sudeep Bhatia, Megan M Crawford, Rebecca Louise McDonald, Miguel A. Moreno and Daniel Read
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Megan M Crawford: University of Strathclyde

No b4mg7, OSF Preprints from Center for Open Science

Abstract: We test the hypothesis of inconsistent planning proposed by Strotz (1955). In the laboratory, participants allocated time between ‘work’ and ‘leisure’ tasks, and were offered a commitment device. Original plans tended to delay leisure, and to involve a moderate degree of spreading between work and leisure tasks. Most participants preferred commitment over flexibility. Although most were denied commitment, few altered their plans. Those that did make changes tended to further postpone leisure. We find limited evidence of discounting or impatience, contrary to the predictions of most theoretical models of inconsistent planning. Instead, our results imply a preference for improving sequences.

Date: 2021-05-04
New Economics Papers: this item is included in nep-exp
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Persistent link: https://EconPapers.repec.org/RePEc:osf:osfxxx:b4mg7

DOI: 10.31219/osf.io/b4mg7

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