Sunday, November 14, 2010
PROCRASTINATION in the experience of George Akerlof
Image from newyorker.com
So, what is this weird word "Procrastination"? Wikipedia says "Procrastination refers to the act of putting off actions or tasks to a later time. Psychologists often cite such behavior as a mechanism for coping with the anxiety associated with starting or completing any task or decision. Schraw, Pinard, Wadkins, and Olafson have proposed three criteria for a behavior to be classified as procrastination: it must be counterproductive, needless, and delaying."
As an example, I've found an interesting article about the subject. It seems it doesn't matter how many prizes you can win in your field, procrastination could happen to anybody.
" Some years ago, the economist George Akerlof found himself faced with a simple task: mailing a box of clothes from India, where he was living, to the United States. The clothes belonged to his friend and colleague Joseph Stiglitz, who had left them behind when visiting, so Akerlof was eager to send the box off. But there was a problem. The combination of Indian bureaucracy and what Akerlof called “my own ineptitude in such matters” meant that doing so was going to be a hassle—indeed, he estimated that it would take an entire workday. So he put off dealing with it, week after week. This went on for more than eight months, and it was only shortly before Akerlof himself returned home that he managed to solve his problem: another friend happened to be sending some things back to the U.S., and Akerlof was able to add Stiglitz’s clothes to the shipment. Given the vagaries of intercontinental mail, it’s possible that Akerlof made it back to the States before Stiglitz’s shirts did.
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."
What does procrastination tell us about ourselves?. by James Surowiecki at the Newyorker.