Deconstructing the Present Bias: Linking Visceral Factors and Mental Representation Through Time Perception

B. Kyu Kim, University of Pennsylvania, USA
Gal Zauberman, University of Pennsylvania, USA
Visceral factors and concrete mental representation are known to increase the degree of present bias (e.g., hyperbolic discounting). While these drivers are shown to cause present biased preferences, it has been assumed that it is caused by changes in the direct (de)valuation of the outcome. This research, however, demonstrates that affective and cognitive explanations of the present bias operate, at least in part, through shifts in subjective time perception of the relevant time horizon.
[ to cite ]:
B. Kyu Kim and Gal Zauberman (2009) ,"Deconstructing the Present Bias: Linking Visceral Factors and Mental Representation Through Time Perception", in NA - Advances in Consumer Research Volume 36, eds. Ann L. McGill and Sharon Shavitt, Duluth, MN : Association for Consumer Research, Pages: 161-164.