When you consider a future effort, more work makes the outcome less appealing. But once you have completed the work, more effort makes the outcome seem more valuable. Our relationship with efforts are not simple. For many people, there is a sweet spot – a little effort might make something more valuable, but push too far and the value drops. It is like drop in interest in a proposal of 2 hours of easy workout in exchange to a 30 minute of moderate or strenuous one. At the same time, a beautiful movie 30 minutes away may entice more than an average movie just around the corner from home.
The question is - Why should timing even matter for effort? It is because the world requires “resource rationality” – optimal, efficient use of limited physical and mental resources, balancing the benefits of actions with the required effort. This is also very beautifully captured by the classic psychology of “Law of Less Work”, which basically talks about the idea that given equivalent outcomes, individuals prefer easier options. Anything different would seem irrational or, in plain language, stupid.
To draw a counter argument, why does then the mankind, even animals reward things that require hard work for no additional payoff? Anyone who has labored hard for anything knows that investing effort makes the final prize sweeter – whether in love, career, sports, or most things in our lives.
We need to investigate, and understand better how effort shapes different aspects of value: monetary value, hedonic value, and the aesthetic value.
