Loosing Vs. Gaining Control: Enhancing Feelings of Control Reduces Present Bias

Kelly (Kiyeon) Lee, Washington University in St. Louis, USA
Selin A. Malkoc, Washington University in St. Louis, USA
Derek D. Rucker, Northwestern University, USA
Consumers often make decisions about the timing of their consumption with a consistent bias for the present. We propose that present-biased preferences can be partially attributed to a lack of control over consumption decisions. We demonstrate that increasing (decreasing) control participants feel over their consumption can decrease (increase) present bias.
[ to cite ]:
Kelly (Kiyeon) Lee, Selin A. Malkoc, and Derek D. Rucker (2013) ,"Loosing Vs. Gaining Control: Enhancing Feelings of Control Reduces Present Bias", in NA - Advances in Consumer Research Volume 41, eds. Simona Botti and Aparna Labroo, Duluth, MN : Association for Consumer Research.