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About: Economic evaluation of time     Goto   Sponge   NotDistinct   Permalink

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In organizational behavior and psychology, Economic evaluation of time refers to the perceiving of time in terms of money. (Other forms of evaluation of time are concerned with the costs and benefits to the general community of changes in time-dependent activities.) When a person evaluates their time in monetary terms, time is viewed as a scarce resource that should be used as efficiently as possible to maximize the perceived monetary gains. Therefore, people who evaluate their time in terms of money are more likely to trade their time for money (i.e., workers provide their time to organizations in exchange for money)—as illustrated by research examining time and money trade-offs.