Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/232894 
Year of Publication: 
2021
Series/Report no.: 
IZA Discussion Papers No. 14142
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
We provide a tractable model of motivational goal bracketing by a present-biased individual, extending previous work to show that the main insights from models with rational goals carry over to a setting with non-rational goals. Goals motivate because they serve as reference points that make substandard performance psychologically painful. A broad goal allows high performance in one task to compensate for low performance in the other. This partially insures against the risk of falling short of ones' goal(s), but creates incentives to shirk in one of the tasks. Narrow goals have a stronger motivational force and thus can be optimal, providing an explanation for observed instances of narrow bracketing. In particular, if one task outcome becomes known before working on the second task, narrow bracketing is always optimal.
Subjects: 
non-rational goals
multiple tasks
motivational bracketing
self-control
JEL: 
A12
C70
D91
Document Type: 
Working Paper

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