Work & Family. Do You Know What Your Time Is Really Worth?
by: Sue Shellenbarger
Jul 22, 2015
Click here to view the full article on WSJ.com
Click here to view the video on WSJ.com
by: Sue Shellenbarger
Jul 22, 2015
Click here to view the full article on WSJ.com
Click here to view the video on WSJ.com
TOPICS: Opportunity Costs
SUMMARY: There are new ways to look at the value of time, allowing people to make more thoughtful choices.
CLASSROOM APPLICATION: Instructors can use this Work & Family column to introduce issues involved in determining opportunity cost of time. They can also use the column to highlight the types of mistakes people make in time-use decisions.
QUESTIONS:
1. (Advanced) Why does putting a dollar value on your time require more than dividing your pay by hours worked?
2. (Advanced) What are examples of inconsistencies in decisions about the use of time?
3. (Introductory) Should people factor opportunity cost into their time-use decisions?
1. (Advanced) Why does putting a dollar value on your time require more than dividing your pay by hours worked?
2. (Advanced) What are examples of inconsistencies in decisions about the use of time?
3. (Introductory) Should people factor opportunity cost into their time-use decisions?
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