Department of Economics and Business Economics

Self-regulation through Goal Setting

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

  • School of Economics and Management
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.
Original languageEnglish
JournalThe Scandinavian Journal of Economics
Volume113
Issue1
Pages (from-to)212-227
ISSN0347-0520
DOIs
Publication statusPublished - 2011

    Research areas

  • Goals, Self-control, Motivation, Time inconsistency, Psychology

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