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ERIC Number: ED510360
Record Type: Non-Journal
Publication Date: 2010-Feb
Pages: 73
Abstractor: As Provided
Reference Count: 58
ISBN: N/A
ISSN: N/A
Psychological Connectedness and Intertemporal Choice
Bartels, Daniel M.; Rips, Lance J.
Online Submission
People tend to attach less value to a good if they know a delay will occur before they obtain it. For example, people value receiving $100 dollars tomorrow more than receiving $100 in 10 years. We explore one reason for this tendency (due to Derek Parfit, 1984): In terms of psychological properties, such as beliefs, values, and goals, the decision maker is more closely linked to the person (his or her future self) receiving $100 tomorrow than to the person receiving $100 in 10 years. For this reason, she prefers her nearer self to have the $100 than her more remote self. Studies 1 and 2 show that the greater the rated psychological connection between two parts of a participant's life, the less she discounts future monetary and nonmonetary benefits (good days at work) over that interval. In Studies 3-5, participants read about characters who undergo large life-changing (and connectedness-weakening) events at different points in their lives, and then make decisions about the timing of benefits on behalf of these characters. All five studies reveal a relation between perceived psychological connectedness and intertemporal choice: Participants prefer benefits to occur before large changes in connectedness, but prefer costs to occur after these changes. The six characters presented to participants in Studies 3 and 5 are appended. (Contains 4 endnotes, 4 figures, and 3 tables.)
Publication Type: Reports - Research
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
IES Funded: Yes
Grant or Contract Numbers: R305A080341