The Value of Time in the Future and Present

Money is more valuable in the present than in the future, but we propose that with time the relative value in the future versus the present is more ambiguous. Time would be more valuable in the future if one considered its higher perceived opportunity cost in the future versus the present. However, time would be more valuable in the present if one considered its relative perceived scarcity in the present versus the future. We explore how the relative ambiguity in the value of future versus present time affects people’s decisions to buy and sell time, and expedite and postpone a task.



Citation:

Erica Mina Okada (2008) ,"The Value of Time in the Future and Present", in NA - Advances in Consumer Research Volume 35, eds. Angela Y. Lee and Dilip Soman, Duluth, MN : Association for Consumer Research, Pages: 76-79.

Authors

Erica Mina Okada, University of Hawaii



Volume

NA - Advances in Consumer Research Volume 35 | 2008



Share Proceeding

Featured papers

See More

Featured

G9. The Voice From Afar: How Reverberation Affects Consumer Cognition

Johann Melzner, New York University, USA
Jochim Hansen, University of Salzburg

Read More

Featured

D10. It's Meant for Me: When Serendipity Increases Word-of-Mouth

Colleen Patricia Kirk, New York Institute of Technology
Joann Peck, University of Wisconsin - Madison, USA
Claire Hart, University of South Hampton, UK
Constantine Sedikides, University of South Hampton, UK

Read More

Featured

H3. Does the Style Looks More Expensive? The Effect of Visual Complexity on Luxury Perception of Art Infused Products

Cheng Gao, Nanjing University
Chunqu Xiao, Nanjing University
Kaiyuan Xi, Nanjing University
Hong Zhu, Nanjing University

Read More

Engage with Us

Becoming an Association for Consumer Research member is simple. Membership in ACR is relatively inexpensive, but brings significant benefits to its members.