ISET Economist Blog

A blog about economics in the South Caucasus.

On Rational Procrastination

One of the most fundamental assumptions in mainstream economics is the rationality of humans. Yet, as argued by Timothy A. Pychyl, professor of psychology at Carleton University in Canada, frequently observed procrastinating behavior, i.e. the “needless voluntary delay” (Pychyl), cannot be reconciled with the rational man paradigm.  Pychyl claims in his book The Procrastinator’s Digest that procrastinators violate a most fundamental axiom of rationality, namely the so-called transitivity of preferences. If a person prefers dogs to cats and cats to h...
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Pati Mamardashvili
Very interesting review and findings. I agree that procrastination might work well for individuals. She/he can put a lot of stress... Read More
Monday, 23 May 2016 10:10 AM
Maka Chitanava
I have a comment about time pressure and different gender performances. I think results are consistent from natural selection’s po... Read More
Monday, 23 May 2016 10:10 AM
Eric Livny
Maka, but the stress-resistant males who survived have both daughters and sons, dont they? How does that square with your theory?
Monday, 23 May 2016 1:01 PM
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The Paradox of Soviet Excellence

Here is a question that has bothered me for a while and I am surprised that nobody else seems to have asked it before: How comes Western countries had the better orchestras (collectives) and Soviet Union the better classical music soloists during the Cold War? Would one not expect the contrary? And, perhaps more importantly: can economists learn something relevant from this observation? MUSIC AND SPORTS There were great orchestras both in the East and in the West and one could argue endlessly who were the greatest soloists. However, Van Cliburn is still ...
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Guest — Gia Bib
Interesting viewpoint, however I would restrain from generalizations. In terms of orchestras, for instance it is a well known fact... Read More
Friday, 15 May 2015 12:12 PM
Guest — Eric Livny
I would agree with Gia that such a sweeping generalization may be difficult to defend. The individualistic West produced plenty of... Read More
Friday, 15 May 2015 2:02 PM
Guest — mfmsm
Yes, you highlight some of the very best parts of Communism. What was wrong was the unaccountability of the oligarchy, and the des... Read More
Friday, 15 May 2015 8:08 PM
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