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Performance of procrastinators: on the value of deadlines

Listed author(s):
  • Fabian Herweg

    ()

  • Daniel Müller

    ()

Earlier work has shown that procrastination can be explained by quasi-hyperbolic discounting. We present a model of effort choice over time that shifts the focus away from completion to performance on a single task. We show that quasi-hyperbolic discounting is detrimental for performance. More intrestingly, we find that being aware of the own self-control problems not necessarily increases performance. Extending this framework to a multi-task model, we show that deadlines help an agent to structure his workload more efficiently, which in turn leads to better performance. Moreover, being restricted by deadlines increases a quasi-hyperbolic discounter's well-being. Thus, we give a theoretical underpinning for recent empirical evidence and numerous casual observations.

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File URL: http://hdl.handle.net/10.1007/s11238-010-9195-6
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Article provided by Springer in its journal Theory and Decision.

Volume (Year): 70 (2011)
Issue (Month): 3 (March)
Pages: 329-366

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Handle: RePEc:kap:theord:v:70:y:2011:i:3:p:329-366
DOI: 10.1007/s11238-010-9195-6
Contact details of provider: Web page: http://www.springer.com

Order Information: Web: http://www.springer.com/economics/economic+theory/journal/11238/PS2

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