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Family unpredictability, future discounting, and risk taking

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  • Hill, Elizabeth M.
  • Jenkins, Jessica
  • Farmer, Lisa

Abstract

Risk taking is predicted to vary with future discounting, as immediate rewards would be overvalued compared to those in the distant future. Degree of future discounting may be increased by unpredictability in the childhood environment. Here we assess relationships among risk taking, future discounting, the developmental environment, and biological factors, using surveys of 151 college students (19.2% men and 80.8% women; mean age 22.9). In structural equation models, environmental unpredictability had both direct and indirect effects on risk taking. Much but not all of its effect was mediated by future discounting.

Suggested Citation

  • Hill, Elizabeth M. & Jenkins, Jessica & Farmer, Lisa, 2008. "Family unpredictability, future discounting, and risk taking," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(4), pages 1381-1396, August.
    • Handle: RePEc:eee:soceco:v:37:y:2008:i:4:p:1381-1396
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    References listed on IDEAS

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    1. Karp, Larry, 2005. "Global warming and hyperbolic discounting," Journal of Public Economics, Elsevier, vol. 89(2-3), pages 261-282, February.
    2. Rabl, Ari, 1996. "Discounting of long-term costs: What would future generations prefer us to do?," Ecological Economics, Elsevier, vol. 17(3), pages 137-145, June.
    3. Antonovsky, Aaron, 1993. "The structure and properties of the sense of coherence scale," Social Science & Medicine, Elsevier, vol. 36(6), pages 725-733, March.
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    1. Bence Csaba Farkas & Valérian Chambon & Pierre O. Jacquet, 2022. "Do perceived control and time orientation mediate the effect of early life adversity on reproductive behaviour and health status? Insights from the European Value Study and the European Social Survey," Palgrave Communications, Palgrave Macmillan, vol. 9(1), pages 1-14, December.
    2. Angelo Panno & Annalisa Theodorou & Giuseppe Alessio Carbone & Evelina De Longis & Chiara Massullo & Gianluca Cepale & Giuseppe Carrus & Claudio Imperatori & Giovanni Sanesi, 2021. "Go Greener, Less Risk: Access to Nature Is Associated with Lower Risk Taking in Different Domains during the COVID-19 Lockdown," Sustainability, MDPI, vol. 13(19), pages 1-17, September.
    3. Martin, Jesus & Branas, Pablo & Espín, Antonio M. & Gamella, Juan & Herrmann, Benedikt, 2018. "The appropriate response of Spanish Gitanos: Short-run orientation beyond current socio-economic status," MPRA Paper 84591, University Library of Munich, Germany.
    4. Sandra Castro-González & Sara Fernández-López & Lucía Rey-Ares & David Rodeiro-Pazos, 2020. "The Influence of Attitude to Money on Individuals’ Financial Well-Being," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 148(3), pages 747-764, April.

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