Putting a price on procrastination - CNN.com
"Economists say there is substantial evidence that humans naturally procrastinate because of inherent impulsiveness.More specifically, says Laibson (David Laibin,Harvard Universtiy), people perceive rewards and costs as having only half the weight tomorrow that they have today. In other words, unpleasant chores feel only half as bad when we imagine doing them tomorrow, versus actually doing them today. "Pushing costly, unpleasant tasks into the future is like a getting a 50 percent discount on them, psychologically," Laibson said. "When you actually arrive at that future date, you'll once again face the same problem."
"It's clear that people delay choices that are beneficial to them ... if they're not the default," said Stefano DellaVigna, associate professor of economics at the University of California-Berkeley.
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This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
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