Research Summary
Research Summary
Buying Time
Description
Taking more time for oneself—such as by working less—often comes at the expense of having less money, and working to earn more money often cuts into free time. When attempting to maximize happiness, what should people do: give up money to have more time, or give up time to have more money? Professor Whillans’ ongoing research suggests that prioritizing time over money is associated with greater happiness and life satisfaction. In addition, her work suggests that people who spend money to have more free time by delegating their disliked tasks to others—such as shopping, cooking, and cleaning—report greater well-being. Yet she also finds evidence that many people are reluctant to buy time even if doing so can promote their welfare. She is exploring the idea of “future time-slack,” which is the notion that most people believe that they will have more time in the future than they do in the present.
