How long is a minute?
| Autor: | Isabelle Brocas, Jorge Tarrasó, Juan D. Carrillo |
|---|---|
| Rok vydání: | 2018 |
| Předmět: |
Consumption (economics)
Economics and Econometrics genetic structures Gratification 05 social sciences Time perception 050105 experimental psychology Correlation 03 medical and health sciences 0302 clinical medicine Psychophysics Mental representation 0501 psychology and cognitive sciences Time preference Psychology Value (mathematics) 030217 neurology & neurosurgery Finance Cognitive psychology |
| Zdroj: | Games and Economic Behavior. 111:305-322 |
| ISSN: | 0899-8256 |
| DOI: | 10.1016/j.geb.2018.06.007 |
| Popis: | Psychophysics studies suggest that our perception of time is different from the objective passage of time. Economics research emphasizes that the value of a reward depends on the delay involved. In this paper, we combine both strands and estimate time perception and time discounting functions at the individual level in an incentivized controlled laboratory environment. We find a negative and statistically significant correlation between time perception and time discounting: subjects who overestimate objective time intervals are less willing to delay gratification. The result suggests that our ability to delay consumption is related to our mental representation of time delays. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
|
Full Text from ScienceDirect