IDEAS home Printed from https://ideas.repec.org/a/gam/jijerp/v20y2023i5p4301-d1083104.html
   My bibliography  Save this article

View of Times and Temporal Focus under the Pace of Life on the Impact of Intertemporal Decision Making

Author

Listed:
  • Yue Wang

    (School of Education, Zhengzhou University, Zhengzhou 450001, China)

  • Xiaoyu Wang

    (School of Education, Zhengzhou University, Zhengzhou 450001, China)

  • Xiao Yang

    (School of Education, Zhengzhou University, Zhengzhou 450001, China)

  • Fangyuan Yuan

    (School of Education, Zhengzhou University, Zhengzhou 450001, China)

  • Ying Li

    (School of Education, Zhengzhou University, Zhengzhou 450001, China)

Abstract

Previous studies have explored the effects of time poverty and money worship on intertemporal decision making based on a resource scarcity perspective. However, how the pace of life affects intertemporal decision making has not been examined. Furthermore, manipulating time perceptions can influence intertemporal decision-making preferences. Based on the perspective of time perception differences, it remains unknown how views of time or temporal focus affect the intertemporal decision making of individuals with different pace of life. To address these issues, study 1 adopted a correlational study to initially explore the relationship between the pace of life and intertemporal decision making. Studies 2 and 3 used manipulation experiments to examine the effects of the pace of life and view of time and temporal focus and pace of life on intertemporal decision making. The results suggest that the faster the life pace, the more recent rewards are preferred. Views of time and temporal focus manipulations can influence the intertemporal decision making of faster-paced individuals, making them prefer smaller–sooner (SS) payoffs under a linear view of time or future temporal focus and larger–later (LL) payoffs under a circular view of time or past temporal focus. However, the manipulation does not affect the intertemporal decision of slower-paced individuals. Our study examined the effect of the pace of life on intertemporal decision making based on a resource scarcity perspective, and found boundary conditions for the influence of the view of time and temporal focus on intertemporal decision making based on the perspective of differences in people’s perception of time.

Suggested Citation

  • Yue Wang & Xiaoyu Wang & Xiao Yang & Fangyuan Yuan & Ying Li, 2023. "View of Times and Temporal Focus under the Pace of Life on the Impact of Intertemporal Decision Making," IJERPH, MDPI, vol. 20(5), pages 1-13, February.
    • Handle: RePEc:gam:jijerp:v:20:y:2023:i:5:p:4301-:d:1083104
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1660-4601/20/5/4301/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1660-4601/20/5/4301/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Frank May, 2017. "The Effect of Future Event Markers on Intertemporal Choice Is Moderated by the Reliance on Emotions versus Reason to Make Decisions," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 44(2), pages 313-331.
    2. Luu Thi Nguyen & Shouming Chen & Ho Kwong Kwan, 2021. "CEO Temporal Focus and Corporate Philanthropy: The Moderating Role of Ownership," SAGE Open, , vol. 11(1), pages 21582440211, March.
    3. Shipp, Abbie J. & Edwards, Jeffrey R. & Lambert, Lisa Schurer, 2009. "Conceptualization and measurement of temporal focus: The subjective experience of the past, present, and future," Organizational Behavior and Human Decision Processes, Elsevier, vol. 110(1), pages 1-22, September.
    4. Renata M. Heilman & Petko Kusev & Mircea Miclea & Joseph Teal & Rose Martin & Alessia Passanisi & Ugo Pace, 2021. "Are Impulsive Decisions Always Irrational? An Experimental Investigation of Impulsive Decisions in the Domains of Gains and Losses," IJERPH, MDPI, vol. 18(16), pages 1-14, August.
    5. Shane Frederick & George Loewenstein & Ted O'Donoghue, 2002. "Time Discounting and Time Preference: A Critical Review," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 351-401, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Cojuharenco, Irina & Patient, David & Bashshur, Michael R., 2011. "Seeing the "forest" or the "trees" of organizational justice: Effects of temporal perspective on employee concerns about unfair treatment at work," Organizational Behavior and Human Decision Processes, Elsevier, vol. 116(1), pages 17-31, September.
    2. Gui, Dan-Yang & Liu, Shixiong & Dai, Yu & Liu, Ying & Wang, Xiaoli & Huang, Huiying, 2021. "Greater patience and monetary expenditure: How shopping with companions influences purchase decisions," Journal of Retailing and Consumer Services, Elsevier, vol. 63(C).
    3. Wu, Chia-Huei & Liu, Jun & Kwong Kwan, Ho & Lee, Cynthia, 2016. "Why and when workplace ostracism inhibits organizational citizenship behaviors: an organizational identification perspective," LSE Research Online Documents on Economics 64006, London School of Economics and Political Science, LSE Library.
    4. Teklewold, Hailemariam, 2011. "Farming or burning? shadow prices and farmer’s impatience on the allocation of multi-purpose resource in the mixed farming system of Ethiopia," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 116080, European Association of Agricultural Economists.
    5. van den Bergh, J.C.J.M. & Botzen, W.J.W., 2015. "Monetary valuation of the social cost of CO2 emissions: A critical survey," Ecological Economics, Elsevier, vol. 114(C), pages 33-46.
    6. Leonhard K. Lades & Liam Delaney, 2024. "Self-control failures, as judged by themselves," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-14, December.
    7. Robert Gazzale & Julian Jamison & Alexander Karlan & Dean Karlan, 2013. "Ambiguous Solicitation: Ambiguous Prescription," Economic Inquiry, Western Economic Association International, vol. 51(1), pages 1002-1011, January.
    8. Hinnosaar, Marit, 2016. "Time inconsistency and alcohol sales restrictions," European Economic Review, Elsevier, vol. 87(C), pages 108-131.
    9. Caroline Flammer & Michael W. Toffel & Kala Viswanathan, 2021. "Shareholder activism and firms' voluntary disclosure of climate change risks," Strategic Management Journal, Wiley Blackwell, vol. 42(10), pages 1850-1879, October.
    10. Min Gong & David Krantz & Elke Weber, 2014. "Why Chinese discount future financial and environmental gains but not losses more than Americans," Journal of Risk and Uncertainty, Springer, vol. 49(2), pages 103-124, October.
    11. Matteo Iacoviello, 2008. "Household Debt and Income Inequality, 1963–2003," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(5), pages 929-965, August.
    12. Cosmo, Valeria Di & O’Hora, Denis, 2017. "Nudging electricity consumption using TOU pricing and feedback: evidence from Irish households," Journal of Economic Psychology, Elsevier, vol. 61(C), pages 1-14.
    13. repec:cup:judgdm:v:16:y:2021:i:3:p:709-728 is not listed on IDEAS
    14. Richard M. H. Suen, 2014. "Time Preference And The Distributions Of Wealth And Income," Economic Inquiry, Western Economic Association International, vol. 52(1), pages 364-381, January.
    15. Mitchell, O.S. & Piggott, J., 2016. "Workplace-Linked Pensions for an Aging Demographic," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 865-904, Elsevier.
    16. Aman, Hiroyuki & Motonishi, Taizo & Ogawa, Kazuhito & Omori, Kozo, 2024. "The effect of financial literacy on long-term recognition and short-term trade in mutual funds: Evidence from Japan," International Review of Economics & Finance, Elsevier, vol. 89(PB), pages 762-783.
    17. Kimmich, Christian & Fischbacher, Urs, 2016. "Behavioral determinants of supply chain integration and coexistence," Journal of Forest Economics, Elsevier, vol. 25(C), pages 55-77.
    18. Filiz-Ozbay, Emel & Guryan, Jonathan & Hyndman, Kyle & Kearney, Melissa & Ozbay, Erkut Y., 2015. "Do lottery payments induce savings behavior? Evidence from the lab," Journal of Public Economics, Elsevier, vol. 126(C), pages 1-24.
    19. Stephen L. Cheung & Agnieszka Tymula & Xueting Wang, 2022. "Present bias for monetary and dietary rewards," Experimental Economics, Springer;Economic Science Association, vol. 25(4), pages 1202-1233, September.
    20. Xiaobao Li & Houchao Lyu, 2022. "Social Status and Subjective Well-Being in Chinese Adults: Mediating Effect of Future Time Perspective," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 17(4), pages 2101-2116, August.
    21. Lex Borghans & Angela Lee Duckworth & James J. Heckman & Bas ter Weel, 2008. "The Economics and Psychology of Personality Traits," Journal of Human Resources, University of Wisconsin Press, vol. 43(4).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jijerp:v:20:y:2023:i:5:p:4301-:d:1083104. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.