PSYCHOLOGICAL AND BIOLOGICAL FOUNDATIONS OF TIME PREFERENCE

被引:62
作者
Daly, Michael [1 ]
Harmon, Colm P. [2 ]
Delaney, Liam [2 ]
机构
[1] Trinity Coll Dublin, Dublin, Ireland
[2] Univ Coll Dublin, Dublin, Ireland
关键词
EMOTION REGULATION; IMMEDIATE; FUTURE;
D O I
10.1162/JEEA.2009.7.2-3.659
中图分类号
F [经济];
学科分类号
02 ;
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)
引用
收藏
页码:659 / 669
页数:11
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