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Publications
  • 2018
  • Chapter
  • Handbook of Well-Being

Time, Money, and Subjective Wellbeing

By: Cassie Mogilner, A.V. Whillans and Michael I. Norton
  • Format:Electronic
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Abstract

Time and money are scarce and precious resources: people experience stress about having insufficient time and worry about having insufficient money. This chapter reviews research showing that the ways in which people spend their time and money, the tradeoffs that people make between having more time or having more money, and the extent to which people focus on each resource can have a significant impact on happiness. Considering subjective well-being (or “happiness”) as a combination of high positive affect, low negative affect, and high feelings of life satisfaction, we explore when, how, and why time and money impact peoples’ anticipated, momentary, and lasting happiness.

Keywords

Money; Time Management; Happiness; Satisfaction

Citation

Mogilner, Cassie, A.V. Whillans, and Michael I. Norton. "Time, Money, and Subjective Wellbeing." In Handbook of Well-Being, edited by Ed Diener, Shigehiro Oishi, and Louis Tay. Noba Scholar Handbook Series. Salt Lake City: DEF Publishers, 2018. Electronic.
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About The Authors

Ashley V. Whillans

Negotiation, Organizations & Markets
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Michael I. Norton

Negotiation, Organizations & Markets
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More from the Authors
  • Ryan Serhant: Time Management for Repeatable Success (A) By: Ashley Whillans and Hawken Lord
  • Laughter on Call: Injecting Conversational Levity By: Alison Wood Brooks, Michael I. Norton and F Katelynn Boland
  • Reaching for Rigor and Relevance: Better Marketing Research for a Better World By: Shilpa Madan, Gita Venkataramani Johar, Jonah Berger, Pierre Chandon, Rajesh Chandy, Rebecca Hamilton, Leslie John, Aparna Labroo, Peggy J. Liu, John G. Lynch, Nina Mazar, Nicole Mead, Vikas Mittal, Christine Moorman, Michael I. Norton, John Roberts, Dilip Soman, Madhu Viswanathan and Katherine White
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