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Autor:innen: 
Herweg, Fabian
Müller, Daniel
Datum: 
2008
Schriftenreihe/Nr.: 
Bonn Econ Discussion Papers No. 3/2008
Verlag: 
University of Bonn, Bonn Graduate School of Economics (BGSE), Bonn
Zusammenfassung: 
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.
Schlagwörter: 
Effort Choice
Deadlines
(Quasi-) Hyperbolic Discounting
Naiveté
Present-Biased Preferences , Sophistication
JEL: 
A12
D11
Dokumentart: 
Working Paper

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