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behavioural economics, nudges, maximising utility, savings policies, market failure
If you image search the word ‘procrastination’, almost every result features a clock. Time plays an important role when it comes to procrastination. Ahead of time, we often make plans and decide the course of action to take to bring about desired outcomes (we seek to maximise our utility). I want to pass my exam, so I decide it’s in my best interest to study; I want to get healthier so I decide I will go to the gym; I want to go on an epic gap year after my A-levels, so I need to save some money
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