PSYCHOLOGICAL AND BIOLOGICAL FOUNDATIONS OF TIME PREFERENCE

• 成果类型: Article
• 署名作者: Daly, Michael; Harmon, Colm P.; Delaney, Liam
• 署名单位: Trinity College Dublin; University College Dublin
• 刊物名称: JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION
• ISSN/ISSBN: 1542-4766
• DOI: 10.1162/JEEA.2009.7.2-3.659
• 发表日期: 2009
• 页码: 659-669
• 关键词: emotion regulation; immediate; FUTURE

摘要

This paper considers the relationship between the economic concept of time preference and relevant concepts from psychology and biology. Using novel data from a time diary study conducted in Ireland that combined detailed psychometric testing with medical testing and real-time bio-tracking, we examine the extent to which individual differences in financial discounting are related to underlying biological and psychological differences. The paper finds that financial discounting is related to a range of psychological variables including consideration of future consequences, self-control, conscientiousness, extraversion, and experiential avoidance, as well as being predicted by heart rate variability and blood pressure. (JEL: D01, D9, C81)