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.


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.


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


NA - Advances in Consumer Research Volume 48 | 2020

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