Download this Paper Open PDF in Browser

It Is Time to Get Some Rest

30 Pages Posted: 25 Jan 2017 Last revised: 7 Jun 2017

Manel Baucells

University of Virginia - Darden School of Business

Lin Zhao

Chinese Academy of Sciences (CAS) - Academy of Mathematics and Systems Science

Date Written: January 25, 2017

Abstract

We introduce the fatigue disutility model. Set in continuous-time, the model captures the notion that fatigue accumulates with effort, decays with rest, and produces an increase in marginal instant disutility. The model is meant to be prescriptive, although it rationalizes several anomalies observed in time preference. It converges to the time separable model when the recovery rate is high. Under very general conditions the temporal profile of effort that economizes fatigue exhibits a high-low-high pattern. We also consider a variant whereby marginal productivity decreases with fatigue. We examine the optimal management of fatigue and productivity under various scenarios. The model also predicts well the patterns observed in athletes under time trial, and we provide a calibration using data from swimming competitions.

Keywords: Disutility, Effort, Fatigue, Time Preferences, Scheduling, Time Trial

JEL Classification: D01, D03, J22

Suggested Citation

Baucells, Manel and Zhao, Lin, It Is Time to Get Some Rest (January 25, 2017). Darden Business School Working Paper No. 2905773. Available at SSRN: https://ssrn.com/abstract=2905773 or http://dx.doi.org/10.2139/ssrn.2905773

Manel Baucells (Contact Author)

University of Virginia - Darden School of Business ( email )

P.O. Box 6550
Charlottesville, VA 22906-6550
United States

Lin Zhao

Chinese Academy of Sciences (CAS) - Academy of Mathematics and Systems Science ( email )

Beijing
China

Paper statistics

Downloads
78
Rank
268,907
Abstract Views
339