The Cost of Being Too Patient

19 Pages Posted: 14 Jan 2020

See all articles by Paola Giuliano

Paola Giuliano

University of California, Los Angeles (UCLA) - Anderson School of Management; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR); IZA Institute of Labor Economics

Paola Sapienza

Northwestern University - Kellogg School of Management - Department of Finance; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR)

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Date Written: January 2020

Abstract

We study the cost of being too patient on happiness. We find that the relationship between patience and various measures of subjective well-being is hump-shaped: it exists an optimal amount of patience that maximizes happiness. Beyond this optimal level, higher levels of patience have a negative impact on well-being.

Keywords: Happiness, Patience

JEL Classification: A10, D9, Z1

Suggested Citation

Giuliano, Paola and Sapienza, Paola, The Cost of Being Too Patient (January 2020). CEPR Discussion Paper No. DP14302, Available at SSRN: https://ssrn.com/abstract=3518644

Paola Giuliano (Contact Author)

University of California, Los Angeles (UCLA) - Anderson School of Management ( email )

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Los Angeles, CA 90095-1481
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National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
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Centre for Economic Policy Research (CEPR) ( email )

London
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IZA Institute of Labor Economics

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Bonn, D-53072
Germany

Paola Sapienza

Northwestern University - Kellogg School of Management - Department of Finance ( email )

Evanston, IL 60208
United States
847-491-7436 (Phone)
847-491-5719 (Fax)

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Centre for Economic Policy Research (CEPR)

London
United Kingdom

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