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Tag Archives: The New Yorker

There’s something comforting about this story: even Nobel-winning economists procrastinate! Many of us go through life with an array of undone tasks, large and small, nibbling at our conscience. But Akerlof saw the experience, for all its familiarity, as mysterious. He genuinely intended to send the box to his friend, yet, as he wrote, in a paper called “Procrastination and Obedience” (1991), “each morning for over eight months I woke up and decided that the next morning would be the day to send the Stiglitz box.” He was always about to send the box, but the moment to act never arrived. Akerlof, who became one of the central figures in behavioral economics, came to the realization that procrastination might be more than just a bad habit. He argued that it revealed something important about the limits of rational thinking and that it could teach useful lessons about phenomena as diverse as substance abuse and savings habits. Since his essay was published, the study of procrastination has become a significant field in academia, with philosophers, psychologists, and economists all weighing in.

Later: What does procrastination tell us about ourselves? in The New Yorker via Nellie