Time value of money and happiness
Abstract: An important question in the well-being literature is how earning and spending money makes people happy. Some studies have shown that people are happier when earning money in constant payments, and spending money on significant others. However, some findings suggest that people with financ...
Guardado en:
| Autores principales: | , |
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| Formato: | Artículo |
| Lenguaje: | Inglés |
| Publicado: |
Pontificia Universidad Católica Argentina. Facultad de Psicología y Piscopedagogía
2021
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| Materias: | |
| Acceso en línea: | https://repositorio.uca.edu.ar/handle/123456789/11604 https://doi.org/10.46553/RPSI.17.33.2021.p22-35 |
| Aporte de: |
| Sumario: | Abstract: An important question in the well-being literature is how earning and spending money makes people happy. Some studies have shown that people are happier when earning money in constant payments, and spending money on significant others. However, some findings suggest that people with financial expertise may have different preferences based on the time value of money. The current study was designed to address this issue by asking both financial novices and financial experts if earning money at decreasing, constant or increasing rates would make them happier. By replicating and, more importantly, disambiguating previous
findings, the results suggest that financial
novices are happier when earning money in
constant payments and spending money on
debts, whereas financial experts are happier
when earning money in decreasing payments
and spending money on investments. These
findings suggest that earning and spending
money makes people happier in different
ways depending on their financial expertise. |
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