This confirms that, like the case of the icy bucket, students overestimate their ability to fight off tiredness unless they're actually experiencing it, and this affects how they plan their studying.

What amazes me in all these studies is that they show how little we learn from our own experience. A lot of people always study in the last days prior to an exam. The problem is, they repeat this same behaviour year after year. Our decisions are much more affected by our momentary feelings than by data, including our past experience.

EDIT:

People often lack the discipline to adhere to a superior strategy that doesn't "feel" right. Reasoning in a way that sometimes "feels" wrong takes discipline.

-- Michael Bishop, Epistemology and the psychology of human judgement