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The Economic Evaluation of Time Organizational Causes and Individual Consequences

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  • Pfeffer, Jeffrey

    (Stanford University)

  • DeVoe, Sanford E.

    (University of Toronto)

Abstract

People acquire ways of thinking about time partly in and from work organizations, where the control and measurement of time use is a prominent feature of modern management--an inevitable consequence of employees selling their time for money. In this paper, we theorize about the role organizational practices play in promoting an economic evaluation of time and time use--where time is thought of primarily in monetary terms and viewed as a scarce resource that should be used as efficiently as possible. While people usually make decisions about time and money differently, we argue that management practices that make the connection between time and money salient can heighten the economic evaluation of time. We consider both the organizational causes of economic evaluation as well as its personal and societal consequences.

Suggested Citation

  • Pfeffer, Jeffrey & DeVoe, Sanford E., 2012. "The Economic Evaluation of Time Organizational Causes and Individual Consequences," Research Papers 2123, Stanford University, Graduate School of Business.
  • Handle: RePEc:ecl:stabus:2123
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    File URL: https://gsbapps.stanford.edu/researchpapers/library/RP2123-1.pdf
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    References listed on IDEAS

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    1. DeVoe, Sanford E. & Pfeffer, Jeffrey, 2009. "When Is Happiness about How Much You Earn? The Effect of Hourly Payment on the Money-Happiness Connection," Research Papers 2024, Stanford University, Graduate School of Business.
    2. Mark Aguiar & Erik Hurst, 2007. "Measuring Trends in Leisure: The Allocation of Time Over Five Decades," The Quarterly Journal of Economics, Oxford University Press, vol. 122(3), pages 969-1006.
    3. Martin Binder & Alex Coad, 2013. "Life satisfaction and self-employment: a matching approach," Small Business Economics, Springer, vol. 40(4), pages 1009-1033, May.
    4. Andersson, Pernilla, 2008. "Happiness and health: Well-being among the self-employed," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(1), pages 213-236, February.
    5. DeSerpa, A C, 1971. "A Theory of the Economics of Time," Economic Journal, Royal Economic Society, vol. 81(324), pages 828-846, December.
    6. Roland Bénabou & Jean Tirole, 2003. "Intrinsic and Extrinsic Motivation," Review of Economic Studies, Oxford University Press, vol. 70(3), pages 489-520.
    7. Benz, Matthias & Frey, Bruno S., 2008. "The value of doing what you like: Evidence from the self-employed in 23 countries," Journal of Economic Behavior & Organization, Elsevier, vol. 68(3-4), pages 445-455, December.
    8. 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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    Cited by:

    1. repec:khe:scajes:v:3:y:2017:i:4:p:123-126 is not listed on IDEAS
    2. Belmi, Peter & Neale, Margaret, 2014. "Mirror, mirror on the wall, who’s the fairest of them all? Thinking that one is attractive increases the tendency to support inequality," Organizational Behavior and Human Decision Processes, Elsevier, vol. 124(2), pages 133-149.
    3. repec:khe:scajes:v:4:y:2018:i:1:p:50-53 is not listed on IDEAS
    4. Dibrell, Clay & Fairclough, Samantha & Davis, Peter S., 2015. "The impact of external and internal entrainment on firm innovativeness: A test of moderation," Journal of Business Research, Elsevier, vol. 68(1), pages 19-26.

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