Self-regulation through Goal Setting

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  • Institut for Økonomi
Goals are an important motivator. But little is known about why and how people set them. We address this issue in a model based on two stylized facts. i) Goals serve as reference points for performance. ii) Present-biased preferences create self-control problems. We show the power and limits of self-regulation through goals. Goals increase an individual's motivation - but only up to a certain point. And they are painful self-disciplining devices. Greater self-control problems may result in tougher goals; but for a severe present bias goals either lack motivating force, or are too painful to be accepted.
OriginalsprogEngelsk
TidsskriftThe Scandinavian Journal of Economics
Vol/bind113
Nummer1
Sider (fra-til)212-227
ISSN0347-0520
DOI
StatusUdgivet - 2011

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