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Inconsistent Time Preferences and On-the-job Search

其他書名	When it Pays to be Naive
出版	Department of Economics, Johannes Kepler University of Linz, 2019
URL	http://books.google.com.hk/books?id=d3XjzQEACAAJ&hl=&source=gbs_api

註釋We study optimal employment contracts for present-biased employees who can conduct on-the-job search. Presuming that firms cannot offer long-term contracts, we find that individuals who are naive about their present bias will actually be better off than sophisticated or time-consistent individuals. Moreover, they search more, which partially counteracts the inefficiencies caused by their present bias.