2022
DOI: 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 … Show more

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Cited by 27 publications
(20 citation statements)
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“…Cross-cultural comparisons would be beneficial in future studies. Delay discounting may be influenced by cultural traits ( 47 ) but some of these differences may stem from economic inequalities and general financial circumstances, rather than culture-specificity ( 48 ).…”
Section: Discussionmentioning
confidence: 99%
“…Cross-cultural comparisons would be beneficial in future studies. Delay discounting may be influenced by cultural traits ( 47 ) but some of these differences may stem from economic inequalities and general financial circumstances, rather than culture-specificity ( 48 ).…”
Section: Discussionmentioning
confidence: 99%
“…Incomes of individuals in the bottom 20% of earners in 2021 were estimated to be 6.7% lower than projected before the pandemic (13). Using secondary data from a large study (n=12,930) on temporal discounting involving 60 countries (14), 12.5% of the total group was classified as being a positive deviant, based on having been born into low-income homes yet showing healthy financial behaviors as adults. This was compared to 16.9% that had been born low-income and did not have such healthy financial habits.…”
Section: Main Textmentioning
confidence: 99%
“…The higher the indifference point, the more an individual is taking future benefits into account and the greater the subjective value of the delayed reward; the lower the indifference point, the lower the subjective value and the greater the short-sighted bias in decision-making. Steep discounting of delayed rewards (evidenced by lower indifference points) is associated with many negative outcomes, including financial instability 21 and problematic health behaviors 22,23 , both of which have intensified since the start of the pandemic [24][25][26] . Critically, for public health purposes, delay discounting is modifiable.…”
mentioning
confidence: 99%