TITLE:
The Influence of Time Perception on Intertemporal Preference and Its Psychological Mechanism
AUTHORS:
Shan Jin
KEYWORDS:
Time Perception, Intertemporal Preference, Perceived-Time-Based Model
JOURNAL NAME:
Open Journal of Social Sciences,
Vol.8 No.4,
April
15,
2020
ABSTRACT: Intertemporal choice refers to people’s weighing the costs and benefits
at different time points, and then making choices. Because outcomes in such decisions
are separated by time, the perception of time should play an important role.
Based on previous studies, this paper introduces the influence of time
perception differences caused by different time representations, different
results and individual differences on intertemporal preference, and explains
the causes by perceived-time-based model. In addition, it also introduces the
influence of time frame effect, reward and punishment effect, money management
guidance, emotion, attention, memory and other cognitive mechanisms on time
perception to help people make more rational decisions in the field of
Intertemporal choice. In the future, the research direction can be explored
from other dimensions of time perception to explore the impact of intertemporal
preference and its physiological mechanism.