The Effect of View of Time on Intertemporal Decision-Making

Abstract: The Perceived Time-Based Model suggests that view of time can influence intertemporal decision-making. This study uses correlational and experimental methods, based on life history theory, to explore the boundary conditions under which the view of time influences intertemporal decision-making. The results of a questionnaire administered to 684 participants in Study 1 revealed that life history strategies moderated the effect of the view of time on intertemporal decision-making. The view of time was a stronger predictor of intertemporal decision-making in the fast life history strategy condition than in the slow life history strategy. Study 2 further manipulated the linear or circular view of time in individuals with different life history strategies through a manipulation experiment. The results showed that individuals with a fast life history strategy preferred smaller-sooner rewards under linear view of time manipulation and larger-later rewards under circular view of time manipulation. Individuals with a slow life history strategy showed no significant difference in intertemporal decision-making between the two views of time. The study finds that life history strategies are a boundary condition for the view of time to influence intertemporal decision-making, thereby validating and enriching life history theory.