Keyword: present bias
Doing It Now or Later (8/20/1999)
People who believe that they will procrastinate when faced with immediate costs and prematurely appropriate immediate rewards may counteract this tendency sometimes to their own benefits.
Keywords: addiction, costs, misbehave, naive, present bias, present-bias, procrastinate, procrastination, rewards, self control, self-control, smoking, sophisticated, time inconsistency
Life by default (1/16/2006)
Present bias and inertia lead to low enrollment in 401(k) retirement plans even though employer matching of employee contribution is quite generous.
Keywords: 401(k) retirement plan, default position, enrollment, opt in, opt out, participation, present bias, rationality