Time Is Not Money

Tore Ellingsen , Magnus Johannesson

In an ultimatum bargaining experiment, we study how subjects bargain over the returns to their investments of money and time. The most notable finding is that a third of the subjects demand no compensation for their time investments, whereas almost all subjects demand compensation for equally costly monetary investments.

Mots clés: C91; J20; L14; Z13; Bargaining; Sunk costs; Time domain; Monetary domain

Domaines: Économie et finance quantitative [q-fin]

Tore Ellingsen, Magnus Johannesson. Time Is Not Money. Journal of Economic Behavior and Organization, 2009, 72 (1), pp.96. ⟨10.1016/j.jebo.2009.05.010⟩. ⟨hal-00699366⟩