The Behavioural Economics Of How We Spend Our Time | Koen Smets | Modern Wisdom 127

Koen Smets is a behavioural economist and professor. We've been told "time is money" for all our lives, but how does time RELATE to money? We can't save time the same way we can save money, so what are the implications for how we should conduct our lives? Today Koen digs deep into the relationship between time, money, life satisfaction and much more. Extra Stuff: Check out Koen's Medium - https://medium.com/@koenfucius Follow Koen on Twitter - https://twitter.com/koenfucius Take a break from alcohol and upgrade your life - https://6monthssober.com/podcast Check out everything I recommend from books to products - https://www.amazon.co.uk/shop/modernwisdom - Listen to all episodes online. Search "Modern Wisdom" on any Podcast App or click here: iTunes: https://apple.co/2MNqIgw Spotify: https://spoti.fi/2LSimPn Stitcher: https://www.stitcher.com/podcast/modern-wisdom - Get in touch in the comments below or head to... Instagram: https://www.instagram.com/chriswillx Twitter: https://www.twitter.com/chriswillx Email: modernwisdompodcast@gmail.com

Koen SmetsguestChris Williamsonhost

Dec 16, 20191h 4mWatch on YouTube ↗

EPISODE INFO

Released: December 16, 2019
Duration: 1h 4m
Channel: Modern Wisdom
Watch on YouTube: ▶ Open ↗

EPISODE DESCRIPTION

Koen Smets is a behavioural economist and professor. We've been told "time is money" for all our lives, but how does time RELATE to money? We can't save time the same way we can save money, so what are the implications for how we should conduct our lives? Today Koen digs deep into the relationship between time, money, life satisfaction and much more. Extra Stuff: Check out Koen's Medium - https://medium.com/@koenfucius Follow Koen on Twitter - https://twitter.com/koenfucius Take a break from alcohol and upgrade your life - https://6monthssober.com/podcast Check out everything I recommend from books to products - https://www.amazon.co.uk/shop/modernwisdom - Listen to all episodes online. Search "Modern Wisdom" on any Podcast App or click here: iTunes: https://apple.co/2MNqIgw Spotify: https://spoti.fi/2LSimPn Stitcher: https://www.stitcher.com/podcast/modern-wisdom - Get in touch in the comments below or head to... Instagram: https://www.instagram.com/chriswillx Twitter: https://www.twitter.com/chriswillx Email: modernwisdompodcast@gmail.com

SPEAKERS

Koen Smets
guest
Chris Williamson
host
Narrator
other

EPISODE SUMMARY

In this episode of Modern Wisdom, featuring Koen Smets and Chris Williamson, The Behavioural Economics Of How We Spend Our Time | Koen Smets | Modern Wisdom 127 explores why Time Isn’t Money: Behavioral Economics Of How We Spend It Chris Williamson and behavioral economist Koen Smets explore time as our scarcest resource and why we systematically undervalue and mismanage it compared to money. They discuss concepts like opportunity cost, mental accounting, and deadlines, applying them to work, commuting, meetings, and personal life. Smets argues that awareness and deliberate planning of time can reveal hidden costs, improve decision-making, and reduce wasted effort—both individually and within organizations. They also examine experiments on speeding fines and charitable giving to show how people perceive the value of time versus money.

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