Template-Type: ReDIF-Paper 1.0
Title: Performance of Procrastinators: On the Value of Deadlines
Author-Name: Fabian Herweg
Author-Name: Daniel Müller
Author-Email: fherweg@uni-bonn.de
Classification-JEL: A12, D11
Keywords: Effort Choice; Deadlines; (Quasi-) Hyperbolic Discounting; Naiveté; Present-Biased Preferences; Sophistication
Abstract: 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.
Note: 
Length: 32
Creation-Date: 2008-01-23
Revision-Date: 
File-URL: http://www.wiwi.uni-bonn.de/bgsepapers/bonedp/bgse3_2008.pdf
File-Format: application/pdf
Handle: RePEc:bon:bonedp:bgse3_2008