Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/79428 
Erscheinungsjahr: 
2002
Schriftenreihe/Nr.: 
Working Paper No. 02-8
Verlag: 
University of California, Department of Economics, Davis, CA
Zusammenfassung: 
Close to half the California school districts let teachers choose whether to receive their salaries ten monthly payments or in twelve. Fisherine intertemporal maximization implies that they should choose ten payments and earn interest on their savings for their summer. But about half choose twelve installments , even though when summed over a reasonable period the foregone interest is considerable. This can be explained by the cost of exercising self control and by Laibson’s model of hyperbolic discounting. A survey of teachers supports this interpretation.
Schlagwörter: 
Self Control
Intertemporal Utility Maximization
JEL: 
D91
D12
Dokumentart: 
Working Paper

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