Spending Time versus Spending Money
研究发现人们在花时间和花钱时存在系统性差异:事后人们更容易通过调整时间投入的价值来适应负面结果;事前人们愿意为高风险高回报选项花更多时间,而花钱时则表现出更标准的风险规避模式。
We find systematic differences in the way that people spend time versus money. Ex post, people are able to more easily accommodate negative outcomes by adjusting the value of their temporal inputs. Ex ante, people are willing to spend more time for higher risk, higher return options whereas when spending money the pattern is reversed and the more standard pattern of increasing risk aversion is observed. Although accurate assessment of the opportunity costs of time is key to making good decisions, ambiguity in the value of time promotes accommodation and rationalization.