Time is not money |
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| Authors: | Tore Ellingsen Magnus Johannesson |
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| Institution: | aDepartment of Economics, Stockholm School of Economics, Box 6501, S-113 83 Stockholm, Sweden |
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| Abstract: | 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. |
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| Keywords: | Bargaining Sunk costs Time domain Monetary domain |
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