The Influence of Time Perception on Intertemporal Preference and Its Psychological Mechanism

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.

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