Results

Blog

LSE Politics and Policy:

Using people's feelings to value time

People hate wasting time commuting. But translating that into a monetary value to help government policy isn't that straightforward. Christian Krekel, George MacKerron and Iven Stead present a new method to put a value o...Read more...

CentrePiece article

How much is your time worth?

Wages indicate how much people want for their time at work, but how can we find out what value they place on time spent doing other things? Christian Krekel and George MacKerron analyse over two million responses to a sm...Read more...

Blog

LSE Business Review:

How much is your time worth?

Christian Krekel and George MacKerron analyse more than two million data points from a smartphone app that randomly asks people how they feel at any particular moment and what they are currently doing, to provide estimat...Read more...

Blog

What Works Centre for Wellbeing:

Using people's feelings to value time

This short summary introduces the main idea in Christian Krekel and George MacKerron's paper proposing an alternative method to estimate the value of time (VOT): experiential valuation based on experience-sampling....Read more...

CEP discussion paper

Back to Edgeworth? Estimating the value of time using hedonic experiences

Following early economist Francis Y. Edgeworth's proposal to measure people's hedonic experiences as they go about their daily lives, we use a smartphone app that over seven years randomly asked a panel of 30, 928 UK res...Read more...

Journal article

The Economic Journal:

Are You Happy While You Work?

Using a new data source permitting individuals to record their well-being via a smartphone, we explore within-person variance in individuals’ well-being measured momentarily at random points in time. We find paid work is...Read more...

CentrePiece article

Are you happy while you work?

Happiness surveys typically ask people to say how they feel about their life experiences in retrospect, but smartphone technology makes it possible to collect responses on wellbeing 'in the moment'. The authors use this ...Read more...

CEP discussion paper

Are You Happy While You Work?

Recent work in psychology and economics has investigated ways in which individuals experience their lives. This literature includes influences on individuals’ momentary happiness. We contribute to this literature using a...Read more...