@techreport{Herweg2008value,
abstract = {Earlier work has shown that procrastination can be explained by quasihyperbolic 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.},
address = {Bonn},
author = {Fabian Herweg and Daniel M\"{u}ller},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {A12; D11; 330; Effort Choice; Deadlines; (Quasi-) Hyperbolic Discounting; Naivet\'{e}; Present-Biased Preferences , Sophistication; Leistungsanreiz; Zeit\"{o}konomik; Pr\"{a}ferenztheorie; Abzinsung; Theorie},
language = {eng},
number = {2008,3},
publisher = {Graduate School of Economics},
title = {On the value of deadlines},
type = {Bonn econ discussion papers},
url = {http://hdl.handle.net/10419/27164},
year = {2008}
}
