Sep 10, 2016 2:22 AM GMT
NYT: Given the choice between more time or more money, which would you pick? For a beach vacation, you might pay more for a direct flight to gain a couple of extra hours getting sand between your toes. On the other hand, you might take a better-paying job that requires late nights at the office.
For a research project, we put this question to more than 4,000 Americans of different ages, income levels, occupations and marital and parental status. In a paper in the journal Social Psychological and Personality Science, which we wrote with our student Uri Barnea, we found that most people valued money more than time. Sixty-four percent of the 4,415 people we asked in five surveys chose money.
Is money the right choice? We had also asked our survey respondents to report their level of happiness and life satisfaction. We found that the people who chose time were on average statistically happier and more satisfied with life than the people who chose money.
So money may turn out to be the wrong choice.