We analyze the effect of deadlines on timing of effort when agents are occasionaly distracted. We show that agents precautiously work early when completion of the task is uncertain, but rather likely. Agents who are rarely distracted will always postpone effort since the risk of not completing is small. As a result, increasing the probability of being distracted may even increase the likelihood of meeting the deadline. We further show that introducing the possibility of having the deadline extended may improve the total probability of completing the task without reducing the probability of completing within the originally announced deadline.
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Paper provided by Research Institute of Industrial Economics in its series Working Paper Series with number
618.
Length: 18 pages Date of creation: 13 Apr 2004 Date of revision:
01 Jul 2004 Handle: RePEc:hhs:iuiwop:0618
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Find related papers by JEL classification: D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply M50 - Business Administration and Business Economics; Marketing; Accounting - - Personnel Economics - - - General
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