Do we wait if it’s better, or is it better if we wait? An exploratory study about the relationship between waiting time and perceived value

Abstract

The investigation about waiting time always assumed its negative nature. In this study we explore chance of getting benefits by means of the relationship between waiting time and value: waiting time may increase value expectations, and value –based on previous experiences or as an expectation- may lead to a prediction of waiting and an increase of tolerance with waiting. The framework for these connections is based on four premises: several alternatives, external causal attribution, shortage principle and risk reduction. Recording information using scenarios technique, we may conclude that waiting acts as a sign of value, stimulates the choice and predisposes to wait more pleasantly. We deduce that the way waiting works resembles aheuristic decision rule.