This article provides an overview of the literature on the psychological value of time. It discusses various determinants of the discount rate and the possibility of hyperbolic discounting. The historical approach helps us to trace the origins of the concept of psychological value of time. This...

This article demonstrates that socially anxious consumers avoid close relationships with merchants. An experimental approach (n=102) shows that socially anxious consumers prefer small talk with merchants rather than intimate conversations, whereas non-socially anxious consumers prefer intimate...

Experimental research scholars often discretize quantitative variables when testing moderation. This pedagogical article addresses the limitations of this approach and considers when and how spotlight and floodlight analyses should be used depending on whether the moderating variable at stake...

Many empirical and behavioral studies identify a decreasing slope in the term structure of subjective discount rates. Using an experimental methodology based on “free-time” relative comparisons, this paper aims to identify in individual behaviors whether agents see their psychological value...

We derive the implications from the absence of arbitrage in dynamic securities markets with bid-ask spreads. The absence of arbitrage is equivalent to the existence of at least an equivalent probability measure that transforms some process between the bid and the ask price processes of traded...