Self-rewards and personal motivation

Alexander Karl Koch, Julia Nafziger, Anton Suvorov, Jeroen van den Ven

Research output: Contribution to journal/Conference contribution in journal/Contribution to newspaperJournal articleResearchpeer-review

13 Citations (Scopus)

Abstract

Self-administered rewards are ubiquitous. They serve as incentives for personal accomplishments and are widely recommended to increase personal motivation. We show that in a model with time-inconsistent and reference-dependent preferences, self-rewards can be a credible and effective tool to overcome self-control problems. We also discuss the different types of self-rewards the individual can use, such as vice goods and virtue goods, and analyze which types of goods the individual prefers.
Original languageEnglish
JournalEuropean Economic Review
Volume68
Pages (from-to)151-167
Number of pages17
ISSN0014-2921
DOIs
Publication statusPublished - May 2014

Keywords

  • Quasi-hyperbolic discounting
  • Reference-dependent preferences
  • Self-control
  • Self-rewards
  • Goals

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