A 'Present' for the Future: The Unexpected Value of Rediscovery
Although documenting everyday activities may seem trivial, four studies reveal that creating records of the present generates unexpected benefits by allowing future rediscoveries. In Study 1, we use a "time capsule" paradigm to show that individuals underestimate the extent to which rediscovering experiences from the past will be curiosity-provoking and interesting in the future. In Studies 2 and 3, we find that people are particularly likely to underestimate the pleasure of rediscovering ordinary, mundane experiences compared to rediscovering extraordinary experiences. Finally, Study 4 demonstrates that underestimating the pleasure of rediscovery leads to time-inconsistent choices: individuals forgo opportunities to document the present but then prefer to rediscover those moments in the future. Underestimating the value of rediscovery is linked to people's erroneous faith in their memory of everyday events. By documenting the present, people provide themselves with the opportunity to rediscover mundane moments that may otherwise have been forgotten.
Cognition and Thinking;
Creating Reciprocal Value Through Operational Transparency
We investigate whether organizations can create value by introducing visual transparency between consumers and producers. Although existing theory posits that increased contact between the two parties can diminish work performance, we conducted two field and two laboratory experiments in food service contexts that suggest that the introduction of operational transparency improves service quality and efficiency. The introduction of reciprocal operational transparency contributed to a 22.5% increase in customer-reported quality and reduced throughput times to 67.5% of standard. Customers who observed employees engaged in labor perceived greater effort, appreciated that effort, and valued the service more. Employees who observed customers felt more appreciated, and in turn, were more satisfied with their work and exerted increased levels of effort. We find that transparency, by visually revealing operating processes to both producers and consumers, generates a positive feedback loop through which value is created for both parties.
Keywords: Value Creation;