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If Money Doesn't Make You Happy, Consider Time

  • Aaker, Jennifer L.

    (Stanford University)

  • Rudd, Melanie

    (Stanford University)

  • Mogilner, Cassie

    (University of Pennsylvania)

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    Although a substantial amount of research has examined the link between money and happiness, far less has examined the link between time and happiness. This paper argues, however, that time plays a critical role in understanding happiness, and it complements the money-spending happiness principles in Dunn, Gilbert, and Wilson (2010) by offering five time-spending happiness principles: 1) spend time with the right people; 2) spend time on the right activities; 3) enjoy the experience without spending the time; 4) expand your time; and 5) be aware that happiness changes over time.

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    Paper provided by Stanford University, Graduate School of Business in its series Research Papers with number 2067.

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    Date of creation: Nov 2010
    Date of revision:
    Handle: RePEc:ecl:stabus:2067
    Contact details of provider: Postal: Stanford University, Stanford, CA 94305-5015
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    1. Kathleen Lloyd & Christopher Auld, 2002. "The Role of Leisure in Determining Quality of Life: Issues of Content and Measurement," Social Indicators Research, Springer, vol. 57(1), pages 43-71, January.
    2. Lina Eriksson & James Rice & Robert Goodin, 2007. "Temporal Aspects of Life Satisfaction," Social Indicators Research, Springer, vol. 80(3), pages 511-533, February.
    3. Leclerc, France & Schmitt, Bernd H & Dube, Laurette, 1995. " Waiting Time and Decision Making: Is Time like Money?," Journal of Consumer Research, University of Chicago Press, vol. 22(1), pages 110-19, June.
    4. Bernard M.S. van Praag & P. Frijters & A. Ferrer-i-Carbonell, 2002. "The Anatomy of Subjective Well-being," Tinbergen Institute Discussion Papers 02-022/3, Tinbergen Institute.
    5. Mogilner, Cassie & Aaker, Jennifer L., 2009. "The Time vs. Money Effect: Shifting Product Attitudes and Decisions through Personal Connection," Research Papers 2014, Stanford University, Graduate School of Business.
    6. Cassie Mogilner & Jennifer L. Aaker & Ginger L. Pennington, 2008. "Time Will Tell: The Distant Appeal of Promotion and Imminent Appeal of Prevention," Journal of Consumer Research, University of Chicago Press, vol. 34(5), pages 670-681, 08.
    7. Bruno S. Frey & Alois Stutzer, 2002. "What Can Economists Learn from Happiness Research?," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 402-435, June.
    8. Loewenstein, George, 1987. "Anticipation and the Valuation of Delayed Consumption," Economic Journal, Royal Economic Society, vol. 97(387), pages 666-84, September.
    9. Wendy Liu & Jennifer Aaker, 2008. "The Happiness of Giving: The Time-Ask Effect," Journal of Consumer Research, University of Chicago Press, vol. 35(3), pages 543-557, 05.
    10. Easterlin, Richard A., 1995. "Will raising the incomes of all increase the happiness of all?," Journal of Economic Behavior & Organization, Elsevier, vol. 27(1), pages 35-47, June.
    11. Liu, Wendy & Aaker, Jennifer L., 2008. "The Happiness of Giving: The Time-Ask Effect," Research Papers 1998, Stanford University, Graduate School of Business.
    12. Borgonovi, Francesca, 2008. "Doing well by doing good. The relationship between formal volunteering and self-reported health and happiness," Social Science & Medicine, Elsevier, vol. 66(11), pages 2321-2334, June.
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