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

Share Proceeding

Featured papers

See More


Decisional Conflict Predicts Myopia

Paul Edgar Stillman, Ohio State University, USA
Melissa Ferguson, Cornell University, USA

Read More


Product Complexity as a Barrier to Consumer Financial Decision-Making

Timothy Dunn, University of Colorado, USA
Philip M. Fernbach, University of Colorado, USA
Ji Hoon Jhang, Oklahoma State University, USA
John Lynch, University of Colorado, USA

Read More


A Meta-Analysis on the Endowment Effect in Experiments

DANIEL SUN, University of Calgary, Canada

Read More

Engage with Us

Becoming an Association for Consumer Research member is simple. Membership in ACR is relatively inexpensive, but brings significant benefits to its members.