History Matters: When Waiting Increases Patience in Intertemorporal Choice

Xianchi Dai, University of Chicago, USA, and INSEAD, France
Ayelet Fishbach, University of Chicago, USA
In this research, we examine the effect of a waiting experience on intertemporal choice. Previous research attests that people become impatient as they get closer to making a choice between a smaller-sooner reward and a larger-later reward, hence they prefer the smaller-sooner reward. We predict that the wait experience, as one moves from distant to near choices, influences the perceived value of choice options in a way that increases patience. Across four studies we show that waiting increases preference for larger-later rewards. This increase in patience is associated with an increase in the perceived value of the waited category.
[ to cite ]:
Xianchi Dai and Ayelet Fishbach (2009) ,"History Matters: When Waiting Increases Patience in Intertemorporal Choice", in NA - Advances in Consumer Research Volume 36, eds. Ann L. McGill and Sharon Shavitt, Duluth, MN : Association for Consumer Research, Pages: 97-99.