Performance of procrastinators: On the value of deadlines

Herweg, Fabian und Müller, Daniel (2011): Performance of procrastinators: On the value of deadlines. In: Theory and Decision, Vol. 70, No. 3: pp. 329-366

Abstract

Earlier study has shown that procrastination can be explained by quasi-hyperbolic discounting. We present a model of effort choice over time that shifts the focus from completion of to performance on a single task. We find that being aware of the own self-control problems may reduce a person’s performance as well as his or her overall well-being, which is in contrast to the existing literature on procrastination. Extending this framework to a multi-task model, we show that interim deadlines help a quasi-hyperbolic discounter to structure his or her 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 provide a theoretical underpinning for recent empirical evidence and numerous casual observations.

• Item Type: Journal article
• Faculties: Economics; Economics > Chairs > Junior Professor in Microeconomics (closed)
• Subjects: 300 Social sciences > 330 Economics
• Language: English