Tuesday, April 24, 2007
one way of getting me to read the rest of an article is to have the first paragraph be a capsule summary of a large swath of my life
"In this lecture I shall focus on situations involving repeated decisions with time-inconsistent behavior. Although each choice may be close to maximizing and therefore result in only small losses, the cumulative effect of a series of repeated errors may be quite large. Thus, in my examples, decision makers are quite close to the intelligent, well-informed individuals usually assumed in economic analysis, but cumulatively they make seriously wrong decisions that do not occure in standard textbook economics." -- George A. Akerlof, "Procrastination and Obedience," American Economic Review, 1991.
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4 comments:
Procrastination? What the hell? Where is it Tuesday??? You'd better be in Australia, or I'm going to be very annoyed!
HE will be very annoyed that you did not read/remember his posting-date credo -- to wit, HE dates to maintain a proper continuum, lest there be a hole somewhere when he forgets to procrastinate or whatever -- oh, I don't know why he does it ... HE just does.
need better committment mechanisms, in my opinion.
I have ambivalence about the idea of me posting more than once a day, which prompts the postdating.
Committment mechanisms are wise things, if one can pull them off.
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