People tend to wait until deadlines get close to work on projects in part because they believe that they can complete the projects in less time than it will actually take. Which findings from behavioral economics is this observation consistent with?
A)People tend to be time inconsistent and people tend to be overconfident.
B)People tend to be time inconsistent but not that people tend to be overconfident.
C)People tend to be overconfident, but not that people tend to be time inconsistent.
D)Neither that people tend to be overconfident nor that people tend to be time inconsistent.

Question

Quizplus · Accepted Answer

This observation is consistent with the findings that people tend to be time inconsistent and overconfident. Time inconsistency refers to the tendency of people to give more weight to immediate rewards than future ones, leading them to procrastinate. Overconfidence, on the other hand, leads people to underestimate the time and effort required to complete a task, which may cause procrastination and missed deadlines.

People Tend to Wait Until Deadlines Get Close to Work