Space, Time, and Intertemporal Preferences
AbstractAlthough subjective judgment of future time plays an important role in a variety of decisions, little is known about the factors that influence such judgments and their implications. Based on a time as distance metaphor and its associated conceptual mapping between space and time, this article demonstrates that spatial distance influences judgment of future time. Participants who consider a longer spatial distance judge the same future time to be longer than those considering a shorter distance. Intertemporal preferences, for which judgment of future delays is a critical factor, also shift with consideration of spatial distance: participants who consider a longer spatial distance also reveal a greater degree of impatience in intertemporal decisions as they perceive a longer delay to future rewards. The current findings support the importance of subjective judgment of future time in intertemporal preferences by introducing a factor that changes time perception without directly changing the value of outcomes.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Consumer Research.
Volume (Year): 39 (2012)
Issue (Month): 4 ()
Pages: 867 - 880
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Web page: http://www.journals.uchicago.edu/JCR/
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