In Search of Determinants of Time-Discounting in Monetary Choices: Personal Characteristics Matter Only a Little

Rok, strany: 2022, 313 - 328

Time-discounting in monetary choices is determined by aspects related to the reward, contextual factors and characteristics of a person. In the present study, we used three datasets (Ndata1 = 419; Ndata2 = 485; Ndata3 = 240) to examine how well personal characteristics (sociodemographic, financial situation, self-control, cognitive abilities, negative experiencing, and trustfulness) predict time-discounting in both hypothetical and real reward scenarios. The results of the regression analyses indicate that the characteristics of a person only explain a small proportion of the variance in time-discounting (R2 ranged from .10 to .19). The only substantive predictors of time-discounting in monetary choices were financial literacy and the general tendency to delay gratification. We conclude that there remains much work to be done in explaining what determines time-discounting. However, shifting the focus from personal characteristics to the characteristics of reward and contextual factors could be of interest.

ISO 690:

Vargová, L., Adamkovič, M. 2022. In Search of Determinants of Time-Discounting in Monetary Choices: Personal Characteristics Matter Only a Little. In Studia Psychologica, vol. 64, no.3, pp. 313-328. 0039-3320. DOI: https://doi.org/10.31577/sp.2022.03.856

APA:

Vargová, L., Adamkovič, M. (2022). In Search of Determinants of Time-Discounting in Monetary Choices: Personal Characteristics Matter Only a Little. Studia Psychologica, 64(3), 313-328. 0039-3320. DOI: https://doi.org/10.31577/sp.2022.03.856

Vydavateľ: Institute of Experimental Psychology, Center of Social and Psychologica Sciences, Slovak Academy of Sciences

https://creativecommons.org/licenses/by/4.0/