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J Appl Psychol. 2011 Jul;96(4):665-76. doi: 10.1037/a0022148.

Time is tight: how higher economic value of time increases feelings of time pressure.

Author information

1
Rotman School of Management, University of Toronto, Toronto, ON, Canada. Sanford.DeVoe@rotman.utoronto.ca

Abstract

The common heuristic association between scarcity and value implies that more valuable things appear scarcer (King, Hicks, & Abdelkhalik, 2009), an effect we show applies to time as well. In a series of studies, we found that both income and wealth, which affect the economic value of time, influence perceived time pressure. Study 1 found that changes in income were associated with changes in perceived time pressure. Studies 2-4 showed that experimentally manipulating time's perceived economic value caused greater feelings of time pressure and less patient behavior. Finally, Study 5 demonstrated that the relationship between income and time pressure was strengthened when participants were randomly assigned to think about the precise economic value of their time.

PMID:
21244125
DOI:
10.1037/a0022148
[Indexed for MEDLINE]

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