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The globalizability of temporal discounting

Author

Listed:
  • Ruggeri, Kai
  • Panin, Amma

    (Université catholique de Louvain, LIDAM/CORE, Belgium)

  • García-Garzon, Eduardo
  • , e.a.

Abstract

Economic inequality is associated with extreme preferences for smaller, immediate gains over larger, delayed ones. This pattern, known as temporal discounting, may feed into rising global inequality, yet it is unclear if it is a function of choice preferences or norms, or rather the absence of sufficient resources to meet immediate needs. It is also not clear if these reflect true differences in choice patterns between income groups. We tested temporal discounting and five intertemporal choice anomalies using local currencies and value standards in 61 countries. Across a diverse sample of 13,629 participants, we found highly consistent rates of choice anomalies. Individuals with lower incomes were not significantly different, but economic inequality and broader financial circumstances impact population choice patterns.

Suggested Citation

  • Ruggeri, Kai & Panin, Amma & García-Garzon, Eduardo & , e.a., 2021. "The globalizability of temporal discounting," LIDAM Discussion Papers CORE 2021024, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvco:2021024
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    Other versions of this item:

    • Kai Ruggeri & Amma Panin & Milica Vdovic & Bojana Većkalov & Nazeer Abdul-Salaam & Jascha Achterberg & Carla Akil & Jolly Amatya & Kanchan Amatya & Thomas Lind Andersen & Sibele D. Aquino & Arjoon Aru, 2022. "The globalizability of temporal discounting," Nature Human Behaviour, Nature, vol. 6(10), pages 1386-1397, October.
    • Kai Ruggeri & Amma Panin & Milica Vdovic & Bojana Većkalov & Nazeer Abdul-Salaam & Jascha Achterberg & Carla Akil & Jolly Amatya & Kanchan Amatya & Thomas Lind Andersen & Sibele D Aquino & Arjoon Arun, 2022. "The globalizability of temporal discounting," Post-Print halshs-03903193, HAL.

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    Cited by:

    1. is not listed on IDEAS
    2. Chenyu Lv & Zhi Liu & Ofir Turel & Qinghua He, 2025. "Understanding gender differences in delay discounting: a systematic review and meta-analysis," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 12(1), pages 1-15, December.
    3. Emilio Ocampo, 2023. "Dollarization as an Effective Commitment Device: The Case of Argentina," CEMA Working Papers: Serie Documentos de Trabajo. 848, Universidad del CEMA.
    4. de Almeida, Filipa & Scott, Ian J. & Soro, Jerônimo C. & Fernandes, Daniel & Amaral, André R. & Catarino, Mafalda L. & Arêde, André & Ferreira, Mário B., 2024. "Financial scarcity and cognitive performance: A meta-analysis," Journal of Economic Psychology, Elsevier, vol. 101(C).
    5. Wang, Hao & Hu, Shujie & Siu, Tak Kuen & Wang, Rongming & Wang, Ning, 2024. "Life-cycle planning with CEV model and time-inconsistent preferences," International Review of Economics & Finance, Elsevier, vol. 96(PA).
    6. Rainer Kotschy & Uwe Sunde, 2025. "Gender Gaps in Patience, Risk-Taking, Trust, and Prosociality Have Declined Across Birth Cohorts," CESifo Working Paper Series 12173, CESifo.
    7. Bojana Većkalov & Sandra J. Geiger & František Bartoš & Mathew P. White & Bastiaan T. Rutjens & Frenk Harreveld & Federica Stablum & Berkan Akın & Alaa Aldoh & Jinhao Bai & Frida Berglund & Aleša Brat, 2024. "A 27-country test of communicating the scientific consensus on climate change," Nature Human Behaviour, Nature, vol. 8(10), pages 1892-1905, October.
    8. Guilherme N. Fasolin & Matias Spektor & Renan Marques & Juliana Camargo, 2025. "Determinants of climate change risk perception in Latin America," Nature Communications, Nature, vol. 16(1), pages 1-11, December.

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