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Cited by 849Decision-Making and Behavioral EconomicsExperimental Behavioral Economics StudiesBehavioral Health and Interventions

The DOI matches its DataCite record; 30 of the 30 references it cites were found in a registry or an index.

Procrastination and Obedience

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Akerlof, George, Akerlof, George·1991·Unknown
DOI 10.22004/ag.econ.294661
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Abstract

-Usual models of economic behavior used in analysis of policy reform assume individualistic values with forward looking rational expectations. These assumptions, while excellent at clarifying economic principles, are not quite realistic in an environment where significant • policy reform is taking place. This environment may be characterized more by individuals changing their minds and behavior as they respond to leadership and now ideas. This research models repeated decisions with time inconsistent behavior. Although each decision results in only small losses, the cumulative effect of a series of repeated errors can be quite large. Policy consequences of this type of behavior are illustrated with examples from • savings, crime, substance abuse, politics and bureaucratic organizations. Courses of action are reinforced by selective elimination of information contrary to that course of action, so that initial psychological overcommitments are reinforced. Limiting initial overcommitment and providing constant, contradictory information are important instruments to avoid the losses which result from procrastination and indoctrination.

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Research works printed but not linked: 15

  1. Arrow, Kenneth J., Social Choice and Individualistic Values 2nd ed., New Haven, Conn: Yale University Press, 1963.
  2. Becker, Gary S., "Crime and Punishment," Journal of Political Economy, March/April 1968, 76, 169-217.
  3. Dahlin, Michel R., From Poorhouse to Pension: The Changing View of Old Age in America. 1890-1929 Ph.D. thesis; Stanford University, 1983.
  4. Gerstel, David U., Paradise, Incorporated: Svnanon, Novato, CA: Presidio Press, 1982.
  5. Hirschman, Albert 0., Exit, Voice and Loyalty: Responses to Decline in Firms,. Organizations and States, Cambridge: Harvard University Press, 1970.
  6. Hurd, Michael D., "Research on the Elderly: Economic Status, Retirement, Consumption, and Saving," Journal of Economic Literature, June 1990, 28 565-637.
  7. Kaufman, Herbert, The Forest Ranger: A Study in Administrative Behavior, Baltimore: published for Resources for the Future, Johns Hopkins Press, 1960.
  8. MacLeod, Jay, Ain't No Makin' It, Boulder, Colorado: Westview Press, 1988.
  9. Matza, David, Becoming Deviant, Englewood Cliffs, N.J.: Prentice-Hall, 1969. , Delinquency and Drift, New York: Wiley, 1964.
  10. Ross, Lee, "Review of Arthur G. Miller, The Obedience Experiments: A Case Study of Controversy in Social Sciences, New York: Praeger, 1956" in Contemporary Psychology, February, 1988, 33, 101-104.
  11. and McClane, S., Throwing Good Money After Bad: Escalation in a Banking Context, Symposium presentation, Academy of Management, 44th Annual Meeting, Boston, MA, 1984.
  12. and Ross, Jerry, "Behavior in Escalation Situations: Antecedents, Prototypes, and Solutions," in Larry L. Cummings and Barry M. Staw eds., Research in Organizational Behavior, Vol. 9, Greenwich, Connecticut: JAI Press, 1987.
  13. Stotland, E. and Canon, Lance K., Social Psychology: A Cognitive Approach, Philadelphia: Saunders, 1972.
  14. Whyte, William F., Street Corner Society, Chicago: University of Chicago Press, 1943.
  15. Wilson, William J., The Truly Disadvantaged: The Inner City, the Underclass and Public Policy, Chicago: University of Chicago Press, 1987.

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Metadata

Authors
Akerlof, G., & Akerlof, G.
Venue
Unknown
Publisher
Unknown
Published
1991
Volume
81
Issue
2
Pages
1-19
DOI
10.22004/ag.econ.294661
OpenAlex
W1524486083
Cited by
849
References
30
Citations by year
2026: 1 · 2025: 8 · 2024: 13 · 2023: 15 · 2022: 17 · 2021: 38 · 2020: 32 · 2019: 45 · 2018: 49 · 2017: 27 · 2016: 37 · 2015: 41 · 2014: 37 · 2013: 40 · 2012: 27
FWCI
8.41
Type
journal article
Language
en
Open access
Locations
  • AgEcon Search (University of Minnesota, USA) (submittedVersion)
  • American Economic Review (submittedVersion)
  • AgEcon Search (University of Minnesota, USA)
Topics
  • Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Experimental Behavioral Economics Studies
  • Social Sciences › Psychology › Applied Psychology › Behavioral Health and Interventions
Keywords
procrastination, time inconsistency, policy reform, rational expectations, behavioral economics, indoctrination, saving behavior, crime, substance abuse, political behavior, bureaucratic organization

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