Effects of emotion on intertemporal decision-making: Explanation from the single dimension priority model

doi:10.3724/SP.J.1041.2022.00122

Abstract

Abstract:

Studies on intertemporal decision-making show that there are significant differences in intertemporal decision-making behavior between positive emotion and negative emotion. From the perspective of single dimension priority model, this study reveals the process mechanism of the influence of emotion on intertemporal decision-making. In Experiment 1, by inducing positive and negative emotions of the participants, we found that the time discount rate of the participants under positive emotions was lower, and they had a stronger tendency to choose delayed options. In Experiment 2, the “visual analog scale task” was used to measure the comparison of inter-dimensional differences in intertemporal decision-making, and to test the explanatory effect of single dimension priority model on intertemporal decision-making. The results showed that the comparison of differences between dimensions plays a mediating role in the influence of emotion on intertemporal decision-making. Experiments 3a and 3b used time and money priming strategies to manipulate the comparison of inter-dimensional differences, and verified the explanatory effect of the single dimension priority model again. The results showed that the effect of emotion on intertemporal decision-making disappears with the initiation of time and money, which further supports the mediating effect of difference comparison between dimensions. From the perspective of decision-making process, this study reveals the psychological mechanism of emotion affecting intertemporal decision-making, and further adds supporting evidence for the explanation of intertemporal decision-making behavior by single dimension priority model.

Key words: intertemporal decision making, positive emotions, negative emotions, comparison of inter-dimensional differences

JIANG Yuan-Ping, JIANG Cheng-Ming, HU Tian-Yi, SUN Hong-Yue. (2022). Effects of emotion on intertemporal decision-making: Explanation from the single dimension priority model. Acta Psychologica Sinica, 54(2), 122-140.

Figures/Tables 12

References 73

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Deferred Amount	Delay time	Emotional group	M	SD	N
100 yuan	10 days	Positive group	0.068	0.083	37
		Negative group	0.096	0.163	36
		Neutral group	0.072	0.082	37
	30 days	Positive group	0.032	0.050	37
		Negative group	0.045	0.061	36
		Neutral group	0.042	0.061	37
	90 days	Positive group	0.014	0.018	37
		Negative group	0.020	0.027	36
		Neutral group	0.014	0.018	37
	180 days	Positive group	0.008	0.009	37
		Negative group	0.013	0.015	36
		Neutral group	0.010	0.012	37
	360 days	Positive group	0.005	0.007	37
		Negative group	0.010	0.009	36
		Neutral group	0.006	0.007	37
1000 yuan	10 days	Positive group	0.064	0.148	37
		Negative group	0.343	0.333	36
		Neutral group	0.075	0.085	37
	30 days	Positive group	0.024	0.053	37
		Negative group	0.088	0.112	36
		Neutral group	0.030	0.037	37
	90 days	Positive group	0.010	0.019	37
		Negative group	0.032	0.037	36
		Neutral group	0.010	0.013	37
	180 days	Positive group	0.008	0.014	37
		Negative group	0.016	0.018	36
		Neutral group	0.007	0.009	37
	360 days	Positive group	0.004	0.006	37
		Negative group	0.008	0.008	36
		Neutral group	0.004	0.006	37

Deferred Amount	Delay time	Emotional group	M	SD	N
100 yuan	10 days	Positive group	0.068	0.083	37
		Negative group	0.096	0.163	36
		Neutral group	0.072	0.082	37
	30 days	Positive group	0.032	0.050	37
		Negative group	0.045	0.061	36
		Neutral group	0.042	0.061	37
	90 days	Positive group	0.014	0.018	37
		Negative group	0.020	0.027	36
		Neutral group	0.014	0.018	37
	180 days	Positive group	0.008	0.009	37
		Negative group	0.013	0.015	36
		Neutral group	0.010	0.012	37
	360 days	Positive group	0.005	0.007	37
		Negative group	0.010	0.009	36
		Neutral group	0.006	0.007	37
1000 yuan	10 days	Positive group	0.064	0.148	37
		Negative group	0.343	0.333	36
		Neutral group	0.075	0.085	37
	30 days	Positive group	0.024	0.053	37
		Negative group	0.088	0.112	36
		Neutral group	0.030	0.037	37
	90 days	Positive group	0.010	0.019	37
		Negative group	0.032	0.037	36
		Neutral group	0.010	0.013	37
	180 days	Positive group	0.008	0.014	37
		Negative group	0.016	0.018	36
		Neutral group	0.007	0.009	37
	360 days	Positive group	0.004	0.006	37
		Negative group	0.008	0.008	36
		Neutral group	0.004	0.006	37

Type	Title
Question 1: Instant options with small amount	A gains 60 yuan now	B gains 100 yuan 30 days later
Question 2: Non-instant options with small amount	A gains 400 yuan 8 weeks later	B gains 600 yuan 16 weeks later
Question 3: Non-instant options with large amount	A gains 6,600 yuan 2 years later	B gains 10,000 yuan 4 years later
Question 4: Instant options with large amount	A gains 640 yuan now	B gains 1000 yuan 6 months later

Type	Title
Question 1: Instant options with small amount	A gains 60 yuan now	B gains 100 yuan 30 days later
Question 2: Non-instant options with small amount	A gains 400 yuan 8 weeks later	B gains 600 yuan 16 weeks later
Question 3: Non-instant options with large amount	A gains 6,600 yuan 2 years later	B gains 10,000 yuan 4 years later
Question 4: Instant options with large amount	A gains 640 yuan now	B gains 1000 yuan 6 months later

Predictive variable		Result Variable: Intertemporal Preference			Result Variables: Comparison of Inter-dimensional differences			Result Variable: Intertemporal Preference
Predictive variable		In addition, it is necessary for us to	SE	t	In addition, it is necessary for us to	SE	t	In addition, it is necessary for us to	SE	t
Question 1	Gender	-0.07	0.21	-0.72	-0.11	0.20	-0.56	-0.05	0.12	-0.42
	Age	0.22	0.07	2.22*	0.10	0.07	1.51	0.02	0.04	0.63
	Emotional Valence	-0.13	0.20	-1. 33	-0.91	0.28	-3.21**	-0.12	0.12	-1. 07
	Time Priming				-2. 12	0.58	-3.66***
	Emotional Valence × Time priming				1.26	0.37	3.42***
	Comparison of Inter-Dimensional Differences							0.81	0.06	13.83***
	R²	0.08			0.18			0.68
	F	2.81*			4.26**			53.86***
Question 2	Gender	-0.07	0.21	-0.67	-0.20	0.20	-1.01	0.01	0.12	0.07
	Age	0.11	0.07	1.07	-0.09	0.07	-1.33	0.05	0.04	1.31
	Emotional valence	-0.22	0.20	-2.25*	-0.88	0.28	-3.17**	-0.12	0.12	-1. 05
	Time Priming				-1. 94	0.57	-3.39**
	Emotional Valence × Time priming				0.80	0.36	2.20*
	Comparison of Inter-Dimensional Differences							0.80	0.06	13.87***
	R²	0.07			0.20			0.68
	F	2.59			5.10***			53.76***
Question 3	Gender	0.01	0.20	0.06	0.05	0.19	0.27	-0.03	0.12	-0.22
	Age	0.25	0.06	2.67**	0.09	0.06	1.48	0.03	0.04	0.84
	Emotional valence	-0.32	0.18	-3.53**	-1. 13	0.27	-4.27***	-0.23	0.12	-1. 89
	Time Priming				-1. 93	0.54	-3.56***
	Emotional Valence × Time priming				0.99	0.35	2.88**
	Comparison of Inter-Dimensional Differences							0.76	0.06	12.30***
	R²	0.20			0.28			0.68
	F	8.36***			7.60***			53.41***
Question 4	Gender	-0.01	0.20	-0.07	-0.29	0.19	-1.58	0.21	0.13	1.64
	Age	0.23	0.06	2.36*	0.04	0.06	0.56	0.06	0.04	1.56
	Emotional valence	-0.28	0.19	-2.99**	-1. 33	0.26	-5.03***	-0.16	0.12	-1.31
	Time Priming				-2. 48	0.54	-4.58***
	Emotional Valence × Time priming				1.37	0.34	3.97***
	Comparison of Inter-dimensional differences							0.76	0.06	12.02***
	R²	0.16			0.28			0.65
	F	6.16**			7.86***			47.32***