Impatient to Achieve Or Impatient to Receive: How the Goal Gradient Effect Underlies Time Discounting

Oleg Urminsky, University of Chicago, USA
Indranil Goswami, University of Chicago, USA
Prior research has often confounded goal-gradient and time discounting. We separate the timing of goal completion and reward receipt, observing separate and disassociated large goal-gradient and small time discounting effects. Goal-gradient effects provide a partial, but substantial, explanation of time discounting and, consequently, can inflate estimated discount rates.
[ to cite ]:
Oleg Urminsky and Indranil Goswami (2015) ,"Impatient to Achieve Or Impatient to Receive: How the Goal Gradient Effect Underlies Time Discounting", in NA - Advances in Consumer Research Volume 43, eds. Kristin Diehl and Carolyn Yoon, Duluth, MN : Association for Consumer Research, Pages: 74-79.