Habit Formation and Naivete in Gym Attendance created 2011.04.06

Habit Formation and Naivete in Gym Attendance created 2011.04.06

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Announcements Peter Kriss will lecture on Tuesday, April 12 th about Affective Forecasting Term Paper Submission is due Thursday, April 21 st in class. Will not accept late submissions. Send your slides one day before your presentation in ppt format. Final Exam is on Thursday, April 28 th in class Study according to the tips given before the quizzes Similar to quiz questions
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Habit Formation and Naivete in Gym Attendance Acland and Levy (2010)
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Acland and Levy (2010) Charness and Gneezy (2009) raises interesting questions How does habit decay over time? How well do subjects predict their future attendance? Extend Charness and Gneezy (2009) study Longer period of data collection (before and after treatment) Eliciting subjects’ predictions of their post- treatment attendance
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Acland and Levy (2010) Design Recruited 120 students Screened for subjects who self-reported to be non- regular gym visitors Subjects completed a questionnaire in the lab
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Unformatted text preview: $25 to attend the gym once during the following week. Additional offer of $100 for the treatment group to attend the gym twice a week in the following four weeks. Treatment and control subjects were asked to predict their future gym attendance Acland and Levy (2010) Design Incentive Compatible Elicitation for predictions of target week attendance Results Results Conclusion Short-run habit as in Charness and Gneezy Habit decays substantially as a result of winter break Subjects over-predict attendance Explain DellaVigna and Malmendier (2006)? Predictions become more accurate over time. Learning? No evidence of crowding-out Future Research Habit formation and habit decay effects in a more policy relevant population Identification of the determinants of habit formation Who are more likely to form a habit? People who have stronger beliefs that fitness was important...
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Habit Formation and Naivete in Gym Attendance created 2011.04.06

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