You Only Live Once: Present-hedonistic time perspective predicts risk propensity

Self Cite

The present study aimed to test the incremental validity of Time Perspective (TP) scales in predicting satisfaction with life and mood, over and above the Big Five personality traits. It also investigated whether the new TP construct of Future Negative perspective contributed to prediction of these outcomes. Participants (N = 265) completed four measures: Satisfaction With Life Scale (SWLS), UWIST Mood Adjective Checklist (UMACL), a modified Zimbardo Time Perspective Inventory (ZTPI), and NEO-Five Factor Inventory (NEO-FFI). Results confirmed the incremental validity of TP, although Big Five dimensions were independently predictive of life satisfaction and certain mood scales. Past Negative TP was the strongest single predictor of life satisfaction. However, Future Negative TP was be the strongest mood predictor from the TP universe, after controlling for the Big Five and remaining TP dimensions. Findings suggest that TP is an important aspect of personality for understanding individual differences in well-being.

Section: Methodsmentioning

confidence: 69%

Time Perspectives Predict Mood States and Satisfaction with Life over and above Personality

Stolarski

Matthews

2016

Self Cite

“…Time perspective was measured using the Zimbardo Time Perspective Inventory (ZTPI) as amended by Carelli et al (2011) in the Polish version validated by Jochemczyk et al (2017). This inventory has 64 items covering six different time dimensions: Past-Negative (α = .80); Past-Positive (α = .78); Present-Hedonistic (α = .81); Present-Fatalistic (α = .70); Future-Positive (α = .81); and, Future-Negative (α = .63).…”

Section: Methodsmentioning

confidence: 99%

Cognitive consequences of timeframe bias. On the link between working memory, cognitive switching, and time perspective

Witowska

Zajenkowski

2019

The present study examined how time perspective is associated with working memory updating and cognitive switching. Additionally, stress states and mood as potential mediators of the relationship between time perspective and cognitive performance were analysed. During two sessions participants (n = 200) completed a set of questionnaires measuring time perspective, task-related stress states, and mood. Moreover, in two separate sessions they performed working memory updating and switching tasks. The results indicated that two time perspectives, i.e. Present Fatalism and Past Positive, were associated with updating. Furthermore, mediation analysis showed that positive mood accounted for these relationships. Specifically, Present Fatalism was correlated with low positive mood and in turn, worse working memory scores, whereas Past Positive was associated with high positive mood leading to better performance on the working memory task. None of the time perspective dimensions correlated with cognitive switching. These findings shed more light on the cognitive consequences of timeframe bias and suggest new approaches in research on time perspective and cognitive functioning.

“…In the case of Time Perspective, there is some preliminary evidence supporting the second notion and indicating that the influence of TP on the propensity to take risks in financial decisions should be further investigated. In the previously mentioned study of Jochemczyk et al (2017), Present Hedonistic TP was correlated with the propensity to take risk regardless of the risk domain, while Future TP was negatively correlated with risk-taking propensity in numerous domains with the exception of the propensity to take investment risk. The decision frames have not been taken into account in any study linking individual Time Perspective and the propensity to take risk in various domains.…”

Section: Risky Financial Choices In Different Domains and Framesmentioning

confidence: 74%

“…However, to date there are only two studies that have focused on the relationships between TPs and financial risk preferences. In the study of Jochemczyk et al (2017), the chronic Present Hedonistic TP correlated with the propensity to take risks in various domains, including betting at the horse races, at high-stake poker games and on the outcome of sporting events (scored in total as a gambling risk) and investing in stocks and new businesses (scored in total as an investment risk). At the same time, the Future TP was negatively correlated with risk-taking in various domains, except the investing and social ones.…”

Section: Time Perspectives and Risky Financial Choicesmentioning

confidence: 99%

“…In the attempt to fill the abovementioned gaps in knowledge, two studies were conducted (one correlational and one experimental) exploring the role of chronic and situationally induced TPs in financial risky decision making, in both the gain and loss frames of choice. Based on the framework of the TPT and the results of the latest studies (Jochemczyk et al 2017;Sekścińska et al 2018), we elaborated a series of hypotheses concerning the potential role of individual differences in TP, as well as its situational impact, in decisions made when carrying out gambling tasks.…”

Section: Current Studiesmentioning

confidence: 99%

See 1 more Smart Citation

Risky financial choices in a gain and loss decision frame – the role of chronic and situationally induced time perspectives

Sekścińska

Rudzińska-Wojciechowska

Maison

2018

The aim of the research was to explore the relationship between people's Time Perspectives (TPs) (chronic and induced) and their propensity to take financial risks in gambling tasks with a gain and loss decision frame. The results of the study 1 (N1 = 1093) revealed that a higher chronic Present Hedonistic TP is related to a preference for unsure options in loss and gain frames, while a higher chronic Past Negative TP is related to a preference for sure options in a gain frame of financial choice, but for unsure options in a loss frame. Moreover, higher chronic Future TP is related to unsure option preference in a loss decision frame. The results of the study 2 (N2 = 563) showed that the induced Past Negative TP (in a gain frame) and Present Hedonistic TP (in both decision frames) lead to similar patterns of results to those observed for the chronic TPs. Keywords Chronic time perspectives. Induced time perspectives. Risk. Gambling task. Framing