Time, money and compromise effect

The goal of this research is to shed some additional light on the time-money relationship in presence of a heuristically solvable choice task. This paper analyzes the time-money relationship when money can not any longer be regarded as a fungible resource. Our results show that consumers are more prone to use a compromise heuristic when money becomes a not fungible resource (i.e. its values expires in the near future). Additionally, we demonstrate that consumers with an unstructured (vs. structured) time orientation adopt an heuristic approach to decision making, weighting differently the importance associated to characteristics related to time and money.