The Economic Evaluation of Time: Organizational Causes and Individual Consequences

Stanford Graduate School of Business Research Paper No. 2123

Posted: 27 Nov 2012

See all articles by Jeffrey Pfeffer

Jeffrey Pfeffer

Stanford Graduate School of Business

Sanford E. Devoe

University of Toronto - Joseph L. Rotman School of Management

Date Written: August 1, 2012

Abstract

People acquire ways of thinking about time partly in and from work organizations, where the control and measurement of time use is a prominent feature of modern management — an inevitable consequence of employees selling their time for money. In this paper, we theorize about the role organizational practices play in promoting an economic evaluation of time and time use — where time is thought of primarily in monetary terms and viewed as a scarce resource that should be used as efficiently as possible. While people usually make decisions about time and money differently, we argue that management practices that make the connection between time and money salient can heighten the economic evaluation of time. We consider both the organizational causes of economic evaluation as well as its personal and societal consequences.

Suggested Citation

Pfeffer, Jeffrey and Devoe, Sanford E., The Economic Evaluation of Time: Organizational Causes and Individual Consequences (August 1, 2012). Stanford Graduate School of Business Research Paper No. 2123, Available at SSRN: https://ssrn.com/abstract=2172510 or http://dx.doi.org/10.2139/ssrn.2172510

Jeffrey Pfeffer (Contact Author)

Stanford Graduate School of Business ( email )

655 Knight Way
Stanford, CA 94305-5015
United States

Sanford E. Devoe

University of Toronto - Joseph L. Rotman School of Management ( email )

105 St. George Street
Toronto, Ontario M5S 3E6 M5S1S4
Canada

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