Oct

12

The psychology of time in trading/investing may attribute in part to
the fact that money is more fungible than time; lost money can be made
back but not lost time. Similarly, is time lost attending to markets
compensated adequately? :

"The results of five field and laboratory experiments reveal a "time versus money effect" whereby activating time (vs. money) leads to a favorable shift in product attitudes and decisions. Because time increases focus on product experience, activating time (vs. money) augments one's personal connection with the product, thereby boosting attitudes and decisions. However, because money increases the focus on product possession, the reverse effect can occur in cases where merely owning the product reflects the self (i.e., for prestige possessions or for highly materialistic consumers). The time versus money effect proves robust across implicit and explicit methods of construct activation."

For example, which wine is more appealing:

"The greatest wine Quiot has ever made in my opinion, this wine shows a dense ruby/purple color and a gorgeous nose of camphor, blackberry, kirsch, some roast beef and Provencal herbs. Full-bodied with great intensity, beautiful purity, a multi-dimensional mouthfeel, and a spectacular finish of close to a minute, this is a fabulous effort from Quiot and should drink well for close to two decades" (Robert Parker)

or

"An expensive French wine at a reasonable price"

(Domaine Du Vieux Lazaret Chateauneuf du Pape Cuvee Exceptionnelle 2005)


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