The Stability of Temporal vs. Monetary Valuations
This research examines the relative stability of consumer valuations of two fundamental economic resources—time and money—in product decisions. A series of six experiments demonstrates that, in general, money-based valuations (e.g., air fare) lead to more intransitive choices and less consistent preferences than time-based valuations (e.g., flight time), because compared to time-based valuations, monetary valuations lack emotional tags and are more prone to cognitive noise. However, we show that this effect is reversed when the perceived time variability of the given options is high, which increases the role that the inherent ambiguity of time valuation plays in product choice.
Organizational Behavior and Theory | Sales and Merchandising
Society for Judgment and Decision Making Annual Meeting, November 19-22, 2010, St. Louis, MO
City or Country
St. Louis, MI
LEE, Leonard; LEE, Michelle P.; and Zauberman, Gal.
The Stability of Temporal vs. Monetary Valuations. (2010). Society for Judgment and Decision Making Annual Meeting, November 19-22, 2010, St. Louis, MO. Research Collection Lee Kong Chian School Of Business.
Available at: http://ink.library.smu.edu.sg/lkcsb_research/3199