The perception of effort during exercise and its relationship to fatigue is still not well understood. Although several scales have been developed to quantify exertion Borg's 15-point ratings of perceived exertion (RPE) scale has been adopted as a valid and reliable instrument for evaluating whole body exertion during exercise. However, Borg's category-ratio scale is useful in quantifying sensations of exertion related to those variables that rise exponentially with increases in exercise intensity. Previous research has examined the extent to which afferent feedback arising from cardiopulmonary and peripheral variables mediates the perception of exertion. However, the literature has not identified a single variable that consistently explains exertion ratings. It is concluded that effort perception involves the integration of multiple afferent signals from a variety of perceptual cues. In a process defined as teleoanticipation, the changes in perceived exertion that result from these afferent signals may allow exercise performance to be precisely regulated such that a task can be completed within the biomechanical and metabolic limits of the body. The accuracy with which individuals can regulate exercise intensity based upon RPE values, the decrease in muscle recruitment (central drive) that occurs before fatigue, and the extent to which perceived exertion and heart rate can be altered with hypnosis and biofeedback training all provide evidence for the existence of such a regulatory system. Future research is needed to precisely quantify the extent to which efferent feedforward commands and afferent feedback determine pacing strategies such that an exercise event can be completed without irreversible tissue damage.

In this review, fatigue is described as a conscious sensation rather than a physiological occurrence. We suggest that the sensation of fatigue is the conscious awareness of changes in subconscious homeostatic control systems, and is derived from a temporal difference between subconscious representations of these homeostatic control systems in neural networks that are induced by changes in the level of activity. These mismatches are perceived by consciousness-producing structures in the brain as the sensation of fatigue. In this model, fatigue is a complex emotion affected by factors such as motivation and drive, other emotions such as anger and fear, and memory of prior activity. It is not clear whether the origin of the conscious sensation of fatigue is associated with particular localised brain structures, or is the result of electrophysiological synchronisation of entire brain activity.

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This suggests that endurance performance is not only "limited" by mechanical failure of the exercising muscles ("peripheral fatigue"). Rather performance during prolonged endurance exercise under normal conditions is highly regulated by the central nervous system to ensure that whole-body homeostasis is protected and an emergency reserve is always present.