Sanford Devoe: Time is Money

Mike interviews Sanford Devoe about the studies reported in the Academy of Management Journal and Organizational Behavior and Human Decision Processes. In these studies, Sanford and co-author Jeff Pfeffer of Stanford University demonstrate that people paid by the hour view time in the same way that they view money, but people paid by salary do not. People who view time as money were more likely to give extra time to work for additional pay, but were less likely to volunteer their time than salaried employees.

Sanford is an Assistant Professor of Organizational Behaviour & HR Management in the Rotman School of Business at the University of Toronto. He earned his PhD from Stanford University in 2007. He studies the psychological dimensions of incentives within organizations.

Recommended further readings:

  • Devoe, S.E., & Pfeffer, J. 2007. Hourly payment and volunteering: The effect of organizational practices on decisions about time use. Academy of Management Journal, 50: 783-798.
  • Devoe, S.E., & Pfeffer, J. 2007. When time is money: The effect of hourly payment on the evaluation of time. Organizational Behavior and Human Decision Processes, 104: 1-13.
  • Evans, J., Kunda, G., & Barley, R. 2004. Beach time, bridge time, and billable hours: The temporal structure of technical contracting. Administrative Science Quarterly, 49: 1-38.
  • Kaveny, M.C. 2001. Billable hours in ordinary time: A theological critique of the instrumentalization of time in professional life. Loyola University Chicago Law Journal, 33: 173-220.
  • Perlow, L.A. 1997. Finding time: How corporations, individuals and families can benefit from new work practices. Ithaca, NY: Cornell University Press.

Michael Johnson

Michael Johnson is an Assistant Professor in Department of Management and Organization at the University of Washington. He can be reached via mdj3@u.washington.edu