Diverging effects of subjective prospect values of uncertain time and money

Studies from behavioral economics show that the subjective prospect value of money has diminishing sensitivity to losses/gains,represented by an S-shape,and this has been applied in representing the subjective prospect value of time in many transportation studies such as travel behavior modeling and network equilibrium.In this study,we demonstrate that the prospect value of time has an increasing sensitivity to losses/gains and can be represented by anϨ-shape,which contrasts that of money.We further explain the rationality of this surprising finding based on psychological and behavioral theories and discuss extensive practical implications.The correlations between sensitivities to gains and losses in terms of magnitude are revealed as well to shed light on potential underlying correlated behavioral principles.Substantial loss-aversion features are observed in the empirical analysis,supporting endowment effects.Implications of the findings on decision-making and other areas that utilize time as a key indicator have been discussed.The findings may revolutionize many research areas that utilize time as a key indicator such as transportation engineering.

外部环境资源短缺对员工薪酬奖励偏好的影响与机制

以往关于时间与金钱奖励选择问题的探讨主要从员工工龄视角着手。但这一视角不能直接解释外部环境资源短缺时,员工对时间与金钱奖励选择偏好的差异问题。本文依据生命史理论,探讨外部环境资源(如就业资源和自然资源)短缺与否对员工选择时间和金钱奖励偏好的影响及内在机制。本文以即将步入职场的大学生和企业员工为样本,发现不管是外在就业资源短缺还是外在自然资源短缺都会促使员工更加偏好金钱而非时间奖励,内在机制是外部环境资源短缺时人们的心理表征更具体,并且这一现象在高物质主义者身上更为明显(实验1和2)。本文结尾讨论了对资源短缺、时间和金钱等研究领域的理论突破与推进。