The Opportunity Cost of Time

If you haven’t already read Predictably Irrational by Dan Ariely, I certainly recommend it. If you want to get a summary of his ideas, watch his TED talk.

Dan has recently annouced to involved in a new project, an iOS app called “Timeful” which is being built with the intention to help us better manage our lives and our time.

UPDATE: The app team was acquired and integrated to the Google Calendar team later.

The angle that is quite fascinating is that, according to what they published on the blog so far, the team aims to bring the opportunity cost of time to the user’s awareness.

Since Professor Ariely is an expert in behavioral economics, he knows all too well how our mind plays tricks on us. I am certainly looking forward to see what they can come up with and got on the beta list already.

Here’s a short video in which Dan explains the basic idea and premise.