Space, Time, and Intertemporal Preferences
Although 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.
Volume (Year): 39 (2012)
Issue (Month): 4 ()
Pages: 867 - 880
|Contact details of provider:|| |
When requesting a correction, please mention this item's handle: RePEc:ucp:jconrs:doi:10.1086/666464. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press)
If references are entirely missing, you can add them using this form.