Pessimism and Overcommitment: An Online Experiment with Tempting YouTube Content
|Title:||Pessimism and Overcommitment: An Online Experiment with Tempting YouTube Content||Authors:||Ek, Claes; Samahita, Margaret||Permanent link:||http://hdl.handle.net/10197/12776||Date:||24-Jan-2022||Online since:||2022-02-28T16:43:00Z||Abstract:||This paper explores the possibility that demand for costly commitment may prove unnecessary and thus excessive. In an online experiment, subjects face a tedious productivity task where tempting YouTube videos invite procrastination. Subjects can pay for a commitment device that removes the videos with some probability less than one, allowing us to compare their willingness to pay with realized material and psychological costs of temptation. A significant share of subjects overestimate their commitment demand, being overly pessimistic about their performance when tempted. However, the total realized ex-post disutility from undercommitment is greater than that from overcommitment.||Funding Details:||Torsten Söderberg Foundation
|Type of material:||Working Paper||Publisher:||University College Dublin. School of Economics||Start page:||1||End page:||49||Series/Report no.:||UCD Centre for Economic Research Working Paper Series; WP2022/03||Copyright (published version):||2022 the Authors||Keywords:||Commitment devices; Pessimism; Self-control||JEL Codes:||C91; D03; D91||Language:||en||Status of Item:||Not peer reviewed||This item is made available under a Creative Commons License:||https://creativecommons.org/licenses/by-nc-nd/3.0/ie/|
|Appears in Collections:||Geary Institute Research Collection|
Economics Working Papers & Policy Papers
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