How Soon Is Now? Present Bias and the Mental Accounting of Time

We offer an account of perceived budget periods as an explanation for present-biased preference reversal in intertemporal choice. Based on a dichotomous categorization of time as current and future financial periods, we demonstrate that people are more impatient when options fall into different periods than in the same period.



Citation:

Oleg Urminsky and Minkwang Jang (2020) ,"How Soon Is Now? Present Bias and the Mental Accounting of Time", in NA - Advances in Consumer Research Volume 48, eds. Jennifer Argo, Tina M. Lowrey, and Hope Jensen Schau, Duluth, MN : Association for Consumer Research, Pages: 1064-1058.

Authors

Oleg Urminsky, University of Chicago, USA
Minkwang Jang, University of Chicago, USA



Volume

NA - Advances in Consumer Research Volume 48 | 2020



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