Abstract
Around the world, increases in wealth have produced an unintended consequence: a rising sense of time scarcity. We provide evidence that using money to buy time can provide a buffer against this time famine, thereby promoting happiness. Using large, diverse samples from the United States, Canada, Denmark, and The Netherlands (n = 6,271), we show that individuals who spend money on time-saving services report greater life satisfaction. A field experiment provides causal evidence that working adults report greater happiness after spending money on a timesaving purchase than on a material purchase. Together, these results suggest that using money to buy time can protect people from the detrimental effects of time pressure on life satisfaction.
Original language | English |
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Pages (from-to) | 8523-8527 |
Journal | Proceedings of the National Academy of Sciences of the United States of America |
Volume | 114 |
Issue number | 32 |
DOIs | |
Publication status | Published - 8 Aug 2017 |
Keywords
- time
- money
- happiness
- well-being
Press/Media
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Guido Weijers - Masterclass Geluk
Paul Smeets
13/04/18
1 Media contribution
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