Time as a Resource: Decision about Allocating and Consuming Time
Time is one of the most cherished and challenging resources at one' disposal. On the one hand, most of life’s most important outcomes, arguably, are those almost 80% of Americans experience “time famine”—having too much to do and not enough time to do it. Thus, understanding how consumers choose to allocate their time to different activities is paramount. Time permitting, I will be talking about series of projects that tackle this general issue answering the questions of (1) If given time, do consumers prefer leisure or work?, (2) Can feeling time rich have downsides?, (3) Can we take productivity focus too far?, and (4) Can thinking about time as money have upsides? Taken together, these projects show that (1) consumers lack, but also waste the time they have and (2) viewing time as a resource to be maximized might have unexpected consequences – especially on the choice and enjoyment of leisurely activities.