This behavior was also observed in New York Cab drivers in the paper LABOR SUPPLY OF NEW YORK CITY CABDRIVERS: ONE DAY AT A TIME https://www.cmu.edu/dietrich/s

This behavior was also observed in New York Cab drivers in the paper LABOR SUPPLY OF NEW YORK CITY CABDRIVERS: ONE DAY AT A TIME https://www.cmu.edu/dietrich/sds/docs/loewenstein/NYCCabdrivers.pdf https://www.cmu.edu/dietrich/sds/docs/loewenstein/NYCCabdriv... > ... Our interpretation of these Žndings is that cabdrivers (at least inexperi- enced ones): (i) make labor supply decisions “one day at a time” instead of inter- temporally substituting labor and leisure across multiple days, and (ii) set a loose daily income target and quit working once they reach that target