When waiting to choose increases patience

We explore how waiting to choose influences patience. We propose that waiting to make an intertemporal choice increases the assumed value of the items for which people are waiting, leading them to become more patient. Five studies support this model. Study 1 finds that after waiting to choose, people exhibit greater patience than if they, had not waited or before they had started to wait. Studies 2a and 2b find that increased valuation (rather than decreased cost of the wait) mediates the impact of waiting on patience. Study 3 further finds that whereas waiting to choose increases preference for a larger-later (over smaller-sooner) item, it also increases willingness to pay to expedite delivery of a single item. Finally, study 4 shows the waiting effect is stronger for hedonic than for utilitarian products. These studies modify existing theory by identifying the conditions under which waiting to choose can improve patience. (C) 2013 Elsevier Inc. All rights reserved.