Ruggeri, Kai;
Panin, Amma;
Vdovic, Milica;
Veckalov, Bojana;
Abdul-Salaam, Nazeer;
Achterberg, Jascha;
Akil, Carla;
... Garcia-Garzon, Eduardo; + view all
(2022)
The globalizability of temporal discounting.
Nature Human Behaviour
, 6
(10)
pp. 1386-1397.
10.1038/s41562-022-01392-w.
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Abstract
Economic inequality is associated with preferences for smaller, immediate gains over larger, delayed ones. Such temporal discounting may feed into rising global inequality, yet it is unclear whether it is a function of choice preferences or norms, or rather the absence of sufficient resources for immediate needs. It is also not clear whether these reflect true differences in choice patterns between income groups. We tested temporal discounting and five intertemporal choice anomalies using local currencies and value standards in 61 countries (N = 13,629). Across a diverse sample, we found consistent, robust rates of choice anomalies. Lower-income groups were not significantly different, but economic inequality and broader financial circumstances were clearly correlated with population choice patterns.
| Type: | Article |
|---|---|
| Title: | The globalizability of temporal discounting |
| Location: | England |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1038/s41562-022-01392-w |
| Publisher version: | https://doi.org/10.1038/s41562-022-01392-w |
| Language: | English |
| Additional information: | Open Access This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made. The images or other third party material in this article are included in the article’s Creative Commons license, unless indicated otherwise in a credit line to the material. If material is not included in the article’s Creative Commons license and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/. |
| Keywords: | Social Sciences, Science & Technology, Life Sciences & Biomedicine, Psychology, Biological, Multidisciplinary Sciences, Neurosciences, Psychology, Experimental, Psychology, Science & Technology - Other Topics, Neurosciences & Neurology, DECISION-MAKING, TIME PREFERENCE, REAL, RISK, INEQUALITY, INFLATION, DECREASES, POVERTY, REWARDS, CHOICE |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > School of Life and Medical Sciences UCL > Provost and Vice Provost Offices > School of Life and Medical Sciences > Faculty of Brain Sciences UCL > Provost and Vice Provost Offices > School of Life and Medical Sciences > Faculty of Brain Sciences > Div of Psychology and Lang Sciences UCL > Provost and Vice Provost Offices > School of Life and Medical Sciences > Faculty of Brain Sciences > Div of Psychology and Lang Sciences > UCL Interaction Centre |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10184242 |
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