A stitch in time saves nine: Behavioural decision-making explanations for time management problems

Abstract

Time management problems such as choosing urgent instead of important tasks are prevalent but so far they lack a theoretical explanation. The authors argue that time management implies a choice about the use of time. Therefore rational choice theory as a normative theory of choice is relevant to time management, and so is behavioural decision-making research focusing on biases and heuristics that make people deviate from the prediction of rational choice theory. The authors show how these biases and heuristics lead to non-efficient time management. In particular, steep and hyperbolic time discounting is explained and its implications for time management as well as for time management training are presented. Several propositions about the importance of individual and situational variables are also put forward.