The globalizability of temporal discounting

Kai Ruggeri; Amma Panin; Milica Vdovic; Bojana Većkalov; Nazeer Abdul-Salaam; Jascha Achterberg; Carla Akil; Jolly Amatya; Kanchan Amatya; Thomas Lind Andersen; Sibele D. Aquino; Arjoon Arunasalam; Sarah Ashcroft-Jones; Adrian Dahl Askelund; Nélida Ayacaxli; Aseman Bagheri Sheshdeh; Alexander Bailey; Paula Barea Arroyo; Genaro Basulto Mejía; Martina Benvenuti; Mari Louise Berge; Aliya Bermaganbet; Katherine Bibilouri; Ludvig Daae Bjørndal; Sabrina Black; Johanna K.Blomster Lyshol; Tymofii Brik; Eike Kofi Buabang; Matthias Burghart; Aslı Bursalıoğlu; Naos Mesfin Buzayu; Martin Čadek; Nathalia Melo de Carvalho; Ana Maria Cazan; Melis Çetinçelik; Valentino E. Chai; Patricia Chen; Shiyi Chen; Georgia Clay; Simone D’Ambrogio; Kaja Damnjanović; Grace Duffy; Tatianna Dugue; Twinkle Dwarkanath; Esther Awazzi Envuladu; Nikola Erceg; Celia Esteban-Serna; Eman Farahat; R. A. Farrokhnia; Mareyba Fawad; Muhammad Fedryansyah; David Feng; Silvia Filippi; Matías A. Fonollá; René Freichel; Lucia Freira; Maja Friedemann; Ziwei Gao; Suwen Ge; Sandra J. Geiger; Leya George; Iulia Grabovski; Aleksandra Gracheva; Anastasia Gracheva; Ali Hajian; Nida Hasan; Marlene Hecht; Xinyi Hong; Barbora Hubená; Alexander Gustav Fredriksen Ikonomeas; Sandra Ilić; David Izydorczyk; Lea Jakob; Margo Janssens; Hannes Jarke; Ondřej Kácha; Kalina Nikolova Kalinova; Forget Mingiri Kapingura; Ralitsa Karakasheva; David Oliver Kasdan; Emmanuel Kemel; Peggah Khorrami; Jakub M. Krawiec; Nato Lagidze; Aleksandra Lazarević; Aleksandra Lazić; Hyung Seo Lee; Žan Lep; Samuel Lins; Ingvild Sandø Lofthus; Lucía Macchia; Salomé Mamede; Metasebiya Ayele Mamo; Laura Maratkyzy; Silvana Mareva; Shivika Marwaha; Lucy McGill; Sharon McParland; Anișoara Melnic; Sebastian A. Meyer; Szymon Mizak; Amina Mohammed; Aizhan Mukhyshbayeva; Joaquin Navajas; Dragana Neshevska; Shehrbano Jamali Niazi; Ana Elsa Nieto Nieves; Franziska Nippold; Julia Oberschulte; Thiago Otto; Riinu Pae; Tsvetelina Panchelieva; Sun Young Park; Daria Stefania Pascu; Irena Pavlović; Marija B. Petrović; Dora Popović; Gerhard M. Prinz; Nikolay R. Rachev; Pika Ranc; Josip Razum; Christina Eun Rho; Leonore Riitsalu; Federica Rocca; R. Shayna Rosenbaum; James Rujimora; Binahayati Rusyidi; Charlotte Rutherford; Rand Said; Inés Sanguino; Ahmet Kerem Sarikaya; Nicolas Say; Jakob Schuck; Mary Shiels; Yarden Shir; Elisabeth D.C. Sievert; Irina Soboleva; Tina Solomonia; Siddhant Soni; Irem Soysal; Federica Stablum; Felicia T.A. Sundström; Xintong Tang; Felice Tavera; Jacqueline Taylor; Anna Lena Tebbe; Katrine Krabbe Thommesen; Juliette Tobias-Webb; Anna Louise Todsen; Filippo Toscano; Tran Tran; Jason Trinh; Alice Turati; Kohei Ueda; Martina Vacondio; Volodymyr Vakhitov; Adrianna J. Valencia; Chiara Van Reyn; Tina A.G. Venema; Sanne E. Verra; Jáchym Vintr; Marek A. Vranka; Lisa Wagner; Xue Wu; Ke Ying Xing; Kailin Xu; Sonya Xu; Yuki Yamada; Aleksandra Yosifova; Zorana Zupan; Eduardo García-Garzon

doi:10.1038/s41562-022-01392-w

The globalizability of temporal discounting

Kai Ruggeri (Corresponding author), Amma Panin, Milica Vdovic, Bojana Većkalov, Nazeer Abdul-Salaam, Jascha Achterberg, Carla Akil, Jolly Amatya, Kanchan Amatya, Thomas Lind Andersen, Sibele D. Aquino, Arjoon Arunasalam, Sarah Ashcroft-Jones, Adrian Dahl Askelund, Nélida Ayacaxli, Aseman Bagheri Sheshdeh, Alexander Bailey, Paula Barea Arroyo, Genaro Basulto Mejía, Martina BenvenutiMari Louise Berge, Aliya Bermaganbet, Katherine Bibilouri, Ludvig Daae Bjørndal, Sabrina Black, Johanna K.Blomster Lyshol, Tymofii Brik, Eike Kofi Buabang, Matthias Burghart, Aslı Bursalıoğlu, Naos Mesfin Buzayu, Martin Čadek, Nathalia Melo de Carvalho, Ana Maria Cazan, Melis Çetinçelik, Valentino E. Chai, Patricia Chen, Shiyi Chen, Georgia Clay, Simone D’Ambrogio, Kaja Damnjanović, Grace Duffy, Tatianna Dugue, Twinkle Dwarkanath, Esther Awazzi Envuladu, Nikola Erceg, Celia Esteban-Serna, Eman Farahat, R. A. Farrokhnia, Mareyba Fawad, Muhammad Fedryansyah, David Feng, Silvia Filippi, Matías A. Fonollá, René Freichel, Lucia Freira, Maja Friedemann, Ziwei Gao, Suwen Ge, Sandra J. Geiger, Leya George, Iulia Grabovski, Aleksandra Gracheva, Anastasia Gracheva, Ali Hajian, Nida Hasan, Marlene Hecht, Xinyi Hong, Barbora Hubená, Alexander Gustav Fredriksen Ikonomeas, Sandra Ilić, David Izydorczyk, Lea Jakob, Margo Janssens, Hannes Jarke, Ondřej Kácha, Kalina Nikolova Kalinova, Forget Mingiri Kapingura, Ralitsa Karakasheva, David Oliver Kasdan, Emmanuel Kemel, Peggah Khorrami, Jakub M. Krawiec, Nato Lagidze, Aleksandra Lazarević, Aleksandra Lazić, Hyung Seo Lee, Žan Lep, Samuel Lins, Ingvild Sandø Lofthus, Lucía Macchia, Salomé Mamede, Metasebiya Ayele Mamo, Laura Maratkyzy, Silvana Mareva, Shivika Marwaha, Lucy McGill, Sharon McParland, Anișoara Melnic, Sebastian A. Meyer, Szymon Mizak, Amina Mohammed, Aizhan Mukhyshbayeva, Joaquin Navajas, Dragana Neshevska, Shehrbano Jamali Niazi, Ana Elsa Nieto Nieves, Franziska Nippold, Julia Oberschulte, Thiago Otto, Riinu Pae, Tsvetelina Panchelieva, Sun Young Park, Daria Stefania Pascu, Irena Pavlović, Marija B. Petrović, Dora Popović, Gerhard M. Prinz, Nikolay R. Rachev, Pika Ranc, Josip Razum, Christina Eun Rho, Leonore Riitsalu, Federica Rocca, R. Shayna Rosenbaum, James Rujimora, Binahayati Rusyidi, Charlotte Rutherford, Rand Said, Inés Sanguino, Ahmet Kerem Sarikaya, Nicolas Say, Jakob Schuck, Mary Shiels, Yarden Shir, Elisabeth D.C. Sievert, Irina Soboleva, Tina Solomonia, Siddhant Soni, Irem Soysal, Federica Stablum, Felicia T.A. Sundström, Xintong Tang, Felice Tavera, Jacqueline Taylor, Anna Lena Tebbe, Katrine Krabbe Thommesen, Juliette Tobias-Webb, Anna Louise Todsen, Filippo Toscano, Tran Tran, Jason Trinh, Alice Turati, Kohei Ueda, Martina Vacondio, Volodymyr Vakhitov, Adrianna J. Valencia, Chiara Van Reyn, Tina A.G. Venema, Sanne E. Verra, Jáchym Vintr, Marek A. Vranka, Lisa Wagner, Xue Wu, Ke Ying Xing, Kailin Xu, Sonya Xu, Yuki Yamada, Aleksandra Yosifova, Zorana Zupan, Eduardo García-Garzon

Department of Cognition, Emotion, and Methods in Psychology

Publications: Contribution to journal › Article › Peer Reviewed

Abstract

Economic inequality is associated with preferences for smaller, immediate gains over larger, delayed ones. Such temporal discounting may feed into rising global inequality, yet it is unclear whether it is a function of choice preferences or norms, or rather the absence of sufficient resources for immediate needs. It is also not clear whether these reflect true differences in choice patterns between income groups. We tested temporal discounting and five intertemporal choice anomalies using local currencies and value standards in 61 countries (N = 13,629). Across a diverse sample, we found consistent, robust rates of choice anomalies. Lower-income groups were not significantly different, but economic inequality and broader financial circumstances were clearly correlated with population choice patterns.

Ruggeri et al. find in a study of 61 countries that temporal discounting patterns are globally generalizable. Worse financial environments, greater inequality and high inflation are associated with extreme or inconsistent long-term decisions.

Original language	English
Pages (from-to)	1386-1397
Number of pages	12
Journal	Nature Human Behaviour
Volume	6
Issue number	10
Early online date	11 Jul 2022
DOIs	https://doi.org/10.1038/s41562-022-01392-w
Publication status	Published - Oct 2022

Austrian Fields of Science 2012

501021 Social psychology

Keywords

DECISION-MAKING
TIME PREFERENCE
REAL
RISK
INEQUALITY
INFLATION
DECREASES
POVERTY
REWARDS
CHOICE

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

10.1038/s41562-022-01392-wLicence: CC BY 4.0

Cite this

Ruggeri, K., Panin, A., Vdovic, M., Većkalov, B., Abdul-Salaam, N., Achterberg, J., Akil, C., Amatya, J., Amatya, K., Andersen, T. L., Aquino, S. D., Arunasalam, A., Ashcroft-Jones, S., Askelund, A. D., Ayacaxli, N., Sheshdeh, A. B., Bailey, A., Barea Arroyo, P., Mejía, G. B., ... García-Garzon, E. (2022). The globalizability of temporal discounting. Nature Human Behaviour, 6(10), 1386-1397. https://doi.org/10.1038/s41562-022-01392-w

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title = "The globalizability of temporal discounting",

abstract = "Economic inequality is associated with preferences for smaller, immediate gains over larger, delayed ones. Such temporal discounting may feed into rising global inequality, yet it is unclear whether it is a function of choice preferences or norms, or rather the absence of sufficient resources for immediate needs. It is also not clear whether these reflect true differences in choice patterns between income groups. We tested temporal discounting and five intertemporal choice anomalies using local currencies and value standards in 61 countries (N = 13,629). Across a diverse sample, we found consistent, robust rates of choice anomalies. Lower-income groups were not significantly different, but economic inequality and broader financial circumstances were clearly correlated with population choice patterns.Ruggeri et al. find in a study of 61 countries that temporal discounting patterns are globally generalizable. Worse financial environments, greater inequality and high inflation are associated with extreme or inconsistent long-term decisions.",

keywords = "DECISION-MAKING, TIME PREFERENCE, REAL, RISK, INEQUALITY, INFLATION, DECREASES, POVERTY, REWARDS, CHOICE",

author = "Kai Ruggeri and Amma Panin and Milica Vdovic and Bojana Ve{\'c}kalov and Nazeer Abdul-Salaam and Jascha Achterberg and Carla Akil and Jolly Amatya and Kanchan Amatya and Andersen, {Thomas Lind} and Aquino, {Sibele D.} and Arjoon Arunasalam and Sarah Ashcroft-Jones and Askelund, {Adrian Dahl} and N{\'e}lida Ayacaxli and Sheshdeh, {Aseman Bagheri} and Alexander Bailey and {Barea Arroyo}, Paula and Mej{\'i}a, {Genaro Basulto} and Martina Benvenuti and Berge, {Mari Louise} and Aliya Bermaganbet and Katherine Bibilouri and Bj{\o}rndal, {Ludvig Daae} and Sabrina Black and Lyshol, {Johanna K.Blomster} and Tymofii Brik and Buabang, {Eike Kofi} and Matthias Burghart and Aslı Bursalıoğlu and Buzayu, {Naos Mesfin} and Martin {\v C}adek and {de Carvalho}, {Nathalia Melo} and Cazan, {Ana Maria} and Melis {\c C}etin{\c c}elik and Chai, {Valentino E.} and Patricia Chen and Shiyi Chen and Georgia Clay and Simone D{\textquoteright}Ambrogio and Kaja Damnjanovi{\'c} and Grace Duffy and Tatianna Dugue and Twinkle Dwarkanath and Envuladu, {Esther Awazzi} and Nikola Erceg and Celia Esteban-Serna and Eman Farahat and Farrokhnia, {R. A.} and Mareyba Fawad and Muhammad Fedryansyah and David Feng and Silvia Filippi and Fonoll{\'a}, {Mat{\'i}as A.} and Ren{\'e} Freichel and Lucia Freira and Maja Friedemann and Ziwei Gao and Suwen Ge and Geiger, {Sandra J.} and Leya George and Iulia Grabovski and Aleksandra Gracheva and Anastasia Gracheva and Ali Hajian and Nida Hasan and Marlene Hecht and Xinyi Hong and Barbora Huben{\'a} and Ikonomeas, {Alexander Gustav Fredriksen} and Sandra Ili{\'c} and David Izydorczyk and Lea Jakob and Margo Janssens and Hannes Jarke and Ond{\v r}ej K{\'a}cha and Kalinova, {Kalina Nikolova} and Kapingura, {Forget Mingiri} and Ralitsa Karakasheva and Kasdan, {David Oliver} and Emmanuel Kemel and Peggah Khorrami and Krawiec, {Jakub M.} and Nato Lagidze and Aleksandra Lazarevi{\'c} and Aleksandra Lazi{\'c} and Lee, {Hyung Seo} and {\v Z}an Lep and Samuel Lins and Lofthus, {Ingvild Sand{\o}} and Luc{\'i}a Macchia and Salom{\'e} Mamede and Mamo, {Metasebiya Ayele} and Laura Maratkyzy and Silvana Mareva and Shivika Marwaha and Lucy McGill and Sharon McParland and Anișoara Melnic and Meyer, {Sebastian A.} and Szymon Mizak and Amina Mohammed and Aizhan Mukhyshbayeva and Joaquin Navajas and Dragana Neshevska and Niazi, {Shehrbano Jamali} and Nieves, {Ana Elsa Nieto} and Franziska Nippold and Julia Oberschulte and Thiago Otto and Riinu Pae and Tsvetelina Panchelieva and Park, {Sun Young} and Pascu, {Daria Stefania} and Irena Pavlovi{\'c} and Petrovi{\'c}, {Marija B.} and Dora Popovi{\'c} and Prinz, {Gerhard M.} and Rachev, {Nikolay R.} and Pika Ranc and Josip Razum and Rho, {Christina Eun} and Leonore Riitsalu and Federica Rocca and Rosenbaum, {R. Shayna} and James Rujimora and Binahayati Rusyidi and Charlotte Rutherford and Rand Said and In{\'e}s Sanguino and Sarikaya, {Ahmet Kerem} and Nicolas Say and Jakob Schuck and Mary Shiels and Yarden Shir and Sievert, {Elisabeth D.C.} and Irina Soboleva and Tina Solomonia and Siddhant Soni and Irem Soysal and Federica Stablum and Sundstr{\"o}m, {Felicia T.A.} and Xintong Tang and Felice Tavera and Jacqueline Taylor and Tebbe, {Anna Lena} and Thommesen, {Katrine Krabbe} and Juliette Tobias-Webb and Todsen, {Anna Louise} and Filippo Toscano and Tran Tran and Jason Trinh and Alice Turati and Kohei Ueda and Martina Vacondio and Volodymyr Vakhitov and Valencia, {Adrianna J.} and {Van Reyn}, Chiara and Venema, {Tina A.G.} and Verra, {Sanne E.} and J{\'a}chym Vintr and Vranka, {Marek A.} and Lisa Wagner and Xue Wu and Xing, {Ke Ying} and Kailin Xu and Sonya Xu and Yuki Yamada and Aleksandra Yosifova and Zorana Zupan and Eduardo Garc{\'i}a-Garzon",

note = "Publisher Copyright: {\textcopyright} 2022, The Author(s).",

year = "2022",

month = oct,

doi = "10.1038/s41562-022-01392-w",

language = "English",

volume = "6",

pages = "1386--1397",

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Ruggeri, K, Panin, A, Vdovic, M, Većkalov, B, Abdul-Salaam, N, Achterberg, J, Akil, C, Amatya, J, Amatya, K, Andersen, TL, Aquino, SD, Arunasalam, A, Ashcroft-Jones, S, Askelund, AD, Ayacaxli, N, Sheshdeh, AB, Bailey, A, Barea Arroyo, P, Mejía, GB, Benvenuti, M, Berge, ML, Bermaganbet, A, Bibilouri, K, Bjørndal, LD, Black, S, Lyshol, JKB, Brik, T, Buabang, EK, Burghart, M, Bursalıoğlu, A, Buzayu, NM, Čadek, M, de Carvalho, NM, Cazan, AM, Çetinçelik, M, Chai, VE, Chen, P, Chen, S, Clay, G, D’Ambrogio, S, Damnjanović, K, Duffy, G, Dugue, T, Dwarkanath, T, Envuladu, EA, Erceg, N, Esteban-Serna, C, Farahat, E, Farrokhnia, RA, Fawad, M, Fedryansyah, M, Feng, D, Filippi, S, Fonollá, MA, Freichel, R, Freira, L, Friedemann, M, Gao, Z, Ge, S, Geiger, SJ, George, L, Grabovski, I, Gracheva, A, Gracheva, A, Hajian, A, Hasan, N, Hecht, M, Hong, X, Hubená, B, Ikonomeas, AGF, Ilić, S, Izydorczyk, D, Jakob, L, Janssens, M, Jarke, H, Kácha, O, Kalinova, KN, Kapingura, FM, Karakasheva, R, Kasdan, DO, Kemel, E, Khorrami, P, Krawiec, JM, Lagidze, N, Lazarević, A, Lazić, A, Lee, HS, Lep, Ž, Lins, S, Lofthus, IS, Macchia, L, Mamede, S, Mamo, MA, Maratkyzy, L, Mareva, S, Marwaha, S, McGill, L, McParland, S, Melnic, A, Meyer, SA, Mizak, S, Mohammed, A, Mukhyshbayeva, A, Navajas, J, Neshevska, D, Niazi, SJ, Nieves, AEN, Nippold, F, Oberschulte, J, Otto, T, Pae, R, Panchelieva, T, Park, SY, Pascu, DS, Pavlović, I, Petrović, MB, Popović, D, Prinz, GM, Rachev, NR, Ranc, P, Razum, J, Rho, CE, Riitsalu, L, Rocca, F, Rosenbaum, RS, Rujimora, J, Rusyidi, B, Rutherford, C, Said, R, Sanguino, I, Sarikaya, AK, Say, N, Schuck, J, Shiels, M, Shir, Y, Sievert, EDC, Soboleva, I, Solomonia, T, Soni, S, Soysal, I, Stablum, F, Sundström, FTA, Tang, X, Tavera, F, Taylor, J, Tebbe, AL, Thommesen, KK, Tobias-Webb, J, Todsen, AL, Toscano, F, Tran, T, Trinh, J, Turati, A, Ueda, K, Vacondio, M, Vakhitov, V, Valencia, AJ, Van Reyn, C, Venema, TAG, Verra, SE, Vintr, J, Vranka, MA, Wagner, L, Wu, X, Xing, KY, Xu, K, Xu, S, Yamada, Y, Yosifova, A, Zupan, Z & García-Garzon, E 2022, 'The globalizability of temporal discounting', Nature Human Behaviour, vol. 6, no. 10, pp. 1386-1397. https://doi.org/10.1038/s41562-022-01392-w

TY - JOUR

T1 - The globalizability of temporal discounting

AU - Ruggeri, Kai

AU - Panin, Amma

AU - Vdovic, Milica

AU - Većkalov, Bojana

AU - Abdul-Salaam, Nazeer

AU - Achterberg, Jascha

AU - Akil, Carla

AU - Amatya, Jolly

AU - Amatya, Kanchan

AU - Andersen, Thomas Lind

AU - Aquino, Sibele D.

AU - Arunasalam, Arjoon

AU - Ashcroft-Jones, Sarah

AU - Askelund, Adrian Dahl

AU - Ayacaxli, Nélida

AU - Sheshdeh, Aseman Bagheri

AU - Bailey, Alexander

AU - Barea Arroyo, Paula

AU - Mejía, Genaro Basulto

AU - Benvenuti, Martina

AU - Berge, Mari Louise

AU - Bermaganbet, Aliya

AU - Bibilouri, Katherine

AU - Bjørndal, Ludvig Daae

AU - Black, Sabrina

AU - Lyshol, Johanna K.Blomster

AU - Brik, Tymofii

AU - Buabang, Eike Kofi

AU - Burghart, Matthias

AU - Bursalıoğlu, Aslı

AU - Buzayu, Naos Mesfin

AU - Čadek, Martin

AU - de Carvalho, Nathalia Melo

AU - Cazan, Ana Maria

AU - Çetinçelik, Melis

AU - Chai, Valentino E.

AU - Chen, Patricia

AU - Chen, Shiyi

AU - Clay, Georgia

AU - D’Ambrogio, Simone

AU - Damnjanović, Kaja

AU - Duffy, Grace

AU - Dugue, Tatianna

AU - Dwarkanath, Twinkle

AU - Envuladu, Esther Awazzi

AU - Erceg, Nikola

AU - Esteban-Serna, Celia

AU - Farahat, Eman

AU - Farrokhnia, R. A.

AU - Fawad, Mareyba

AU - Fedryansyah, Muhammad

AU - Feng, David

AU - Filippi, Silvia

AU - Fonollá, Matías A.

AU - Freichel, René

AU - Freira, Lucia

AU - Friedemann, Maja

AU - Gao, Ziwei

AU - Ge, Suwen

AU - Geiger, Sandra J.

AU - George, Leya

AU - Grabovski, Iulia

AU - Gracheva, Aleksandra

AU - Gracheva, Anastasia

AU - Hajian, Ali

AU - Hasan, Nida

AU - Hecht, Marlene

AU - Hong, Xinyi

AU - Hubená, Barbora

AU - Ikonomeas, Alexander Gustav Fredriksen

AU - Ilić, Sandra

AU - Izydorczyk, David

AU - Jakob, Lea

AU - Janssens, Margo

AU - Jarke, Hannes

AU - Kácha, Ondřej

AU - Kalinova, Kalina Nikolova

AU - Kapingura, Forget Mingiri

AU - Karakasheva, Ralitsa

AU - Kasdan, David Oliver

AU - Kemel, Emmanuel

AU - Khorrami, Peggah

AU - Krawiec, Jakub M.

AU - Lagidze, Nato

AU - Lazarević, Aleksandra

AU - Lazić, Aleksandra

AU - Lee, Hyung Seo

AU - Lep, Žan

AU - Lins, Samuel

AU - Lofthus, Ingvild Sandø

AU - Macchia, Lucía

AU - Mamede, Salomé

AU - Mamo, Metasebiya Ayele

AU - Maratkyzy, Laura

AU - Mareva, Silvana

AU - Marwaha, Shivika

AU - McGill, Lucy

AU - McParland, Sharon

AU - Melnic, Anișoara

AU - Meyer, Sebastian A.

AU - Mizak, Szymon

AU - Mohammed, Amina

AU - Mukhyshbayeva, Aizhan

AU - Navajas, Joaquin

AU - Neshevska, Dragana

AU - Niazi, Shehrbano Jamali

AU - Nieves, Ana Elsa Nieto

AU - Nippold, Franziska

AU - Oberschulte, Julia

AU - Otto, Thiago

AU - Pae, Riinu

AU - Panchelieva, Tsvetelina

AU - Park, Sun Young

AU - Pascu, Daria Stefania

AU - Pavlović, Irena

AU - Petrović, Marija B.

AU - Popović, Dora

AU - Prinz, Gerhard M.

AU - Rachev, Nikolay R.

AU - Ranc, Pika

AU - Razum, Josip

AU - Rho, Christina Eun

AU - Riitsalu, Leonore

AU - Rocca, Federica

AU - Rosenbaum, R. Shayna

AU - Rujimora, James

AU - Rusyidi, Binahayati

AU - Rutherford, Charlotte

AU - Said, Rand

AU - Sanguino, Inés

AU - Sarikaya, Ahmet Kerem

AU - Say, Nicolas

AU - Schuck, Jakob

AU - Shiels, Mary

AU - Shir, Yarden

AU - Sievert, Elisabeth D.C.

AU - Soboleva, Irina

AU - Solomonia, Tina

AU - Soni, Siddhant

AU - Soysal, Irem

AU - Stablum, Federica

AU - Sundström, Felicia T.A.

AU - Tang, Xintong

AU - Tavera, Felice

AU - Taylor, Jacqueline

AU - Tebbe, Anna Lena

AU - Thommesen, Katrine Krabbe

AU - Tobias-Webb, Juliette

AU - Todsen, Anna Louise

AU - Toscano, Filippo

AU - Tran, Tran

AU - Trinh, Jason

AU - Turati, Alice

AU - Ueda, Kohei

AU - Vacondio, Martina

AU - Vakhitov, Volodymyr

AU - Valencia, Adrianna J.

AU - Van Reyn, Chiara

AU - Venema, Tina A.G.

AU - Verra, Sanne E.

AU - Vintr, Jáchym

AU - Vranka, Marek A.

AU - Wagner, Lisa

AU - Wu, Xue

AU - Xing, Ke Ying

AU - Xu, Kailin

AU - Xu, Sonya

AU - Yamada, Yuki

AU - Yosifova, Aleksandra

AU - Zupan, Zorana

AU - García-Garzon, Eduardo

PY - 2022/10

Y1 - 2022/10

N2 - Economic inequality is associated with preferences for smaller, immediate gains over larger, delayed ones. Such temporal discounting may feed into rising global inequality, yet it is unclear whether it is a function of choice preferences or norms, or rather the absence of sufficient resources for immediate needs. It is also not clear whether these reflect true differences in choice patterns between income groups. We tested temporal discounting and five intertemporal choice anomalies using local currencies and value standards in 61 countries (N = 13,629). Across a diverse sample, we found consistent, robust rates of choice anomalies. Lower-income groups were not significantly different, but economic inequality and broader financial circumstances were clearly correlated with population choice patterns.Ruggeri et al. find in a study of 61 countries that temporal discounting patterns are globally generalizable. Worse financial environments, greater inequality and high inflation are associated with extreme or inconsistent long-term decisions.

AB - Economic inequality is associated with preferences for smaller, immediate gains over larger, delayed ones. Such temporal discounting may feed into rising global inequality, yet it is unclear whether it is a function of choice preferences or norms, or rather the absence of sufficient resources for immediate needs. It is also not clear whether these reflect true differences in choice patterns between income groups. We tested temporal discounting and five intertemporal choice anomalies using local currencies and value standards in 61 countries (N = 13,629). Across a diverse sample, we found consistent, robust rates of choice anomalies. Lower-income groups were not significantly different, but economic inequality and broader financial circumstances were clearly correlated with population choice patterns.Ruggeri et al. find in a study of 61 countries that temporal discounting patterns are globally generalizable. Worse financial environments, greater inequality and high inflation are associated with extreme or inconsistent long-term decisions.

KW - DECISION-MAKING

KW - TIME PREFERENCE

KW - REAL

KW - RISK

KW - INEQUALITY

KW - INFLATION

KW - DECREASES

KW - POVERTY

KW - REWARDS

KW - CHOICE

UR - http://www.scopus.com/inward/record.url?scp=85133877039&partnerID=8YFLogxK

U2 - 10.1038/s41562-022-01392-w

DO - 10.1038/s41562-022-01392-w

M3 - Article

AN - SCOPUS:85133877039

VL - 6

SP - 1386

EP - 1397

JO - Nature Human Behaviour

JF - Nature Human Behaviour

SN - 2397-3374

IS - 10

ER -

The globalizability of temporal discounting

Abstract

Austrian Fields of Science 2012

Keywords

UN SDGs

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Krisen machen ungeduldig

So verändert uns die instabile Wirtschaftslage

Instabile Wirtschaftslage verstärkt Tendenz zum "Spatz in der Hand"

Cite this

The globalizability of temporal discounting

Abstract

Austrian Fields of Science 2012

Keywords

UN SDGs

Access to Document

Other files and links

Press/Media

Krisen machen ungeduldig

So verändert uns die instabile Wirtschaftslage

Instabile Wirtschaftslage verstärkt Tendenz zum "Spatz in der Hand"

Cite this