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According to the challenge–hindrance model, challenge stressors contain both stressful and challenging aspects, hindrance stressors only stressful aspects. Typically, negative outcomes of challenge stressors refer to well-being (strain), positive outcomes to so-called work outcomes (e.g., productivity, intention to quit). As both effects occur simultaneously, the positive outcomes often emerge only when controlling for the negative effects. We suggest that the negative and the positive effects of challenge stressors may refer to well-being. Specifically, we propose challenge to indicate competence, thus fostering organization-based self-esteem (OBSE), which, in turn, should enhance more general indicators of positive well-being. We explored the effect of time pressure (a prototypical challenge stressor) on a general well-being variable (positive attitude towards life; PAL). We postulated challenge stressors to be …