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Psychological and biological foundations of time preference : evidence from a day reconstruction study with biological tracking
Author(s)
Date Issued
2008-08-10
Date Available
2008-10-20T15:30:13Z
Abstract
This paper considers the relationship between the economic concept of time preference and relevant concepts from psychology and biology. Using novel data from a time diary study conducted in Ireland that combined detailed psychometric testing with medical testing and real time bio-tracking, we examine the distribution of a number of psychometric measures linked to the economic concept of time preferences and test the extent to which these measures form coherent clusters and the degree to which these clusters are related to underlying biological substrates. The paper finds that financial discounting is related to a range of psychological variables including consideration of future consequences, self-control, conscientiousness, extraversion, and experiential avoidance as well as being predicted by heart rate variability and blood pressure.
Type of Material
Working Paper
Publisher
University College Dublin. Geary Institute
Series
UCD Geary Institute Discussion Paper Series
WP/19/2008
UCD Centre for Economic Research Working Paper Series
WP08/19
Copyright (Published Version)
2008 Geary Institute
Subject – LCSH
Time and economic reactions--Ireland
Psychometrics--Research
Biology--Research
Language
English
Status of Item
Not peer reviewed
This item is made available under a Creative Commons License
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