The Influence Of Social Distance And Risk Preference On Intertemporal Decision-making In The Context Of Gains And Losses

In all kinds of real life,every individual is faced with a variety of choices,sometimes small dust,sometimes big enough to change every aspect of people’s lives.Human beings can not only make present and future decisions in a different time and space,but also make judgment decisions in another person’s position.In addition,they need to take risks for themselves and other people when making decisions about the future.In the context of gain and loss,it is extremely important to understand how people make choices about the present and future based on social distance and risk factors,which can help people stay awake and make relatively rational decisions.Therefore,this paper focuses on the impact of social distance and risk preference on intertemporal decision making in the context of gain and loss,with the construal level theory as the starting point of scientific cognition.In experiment 1,social distance was assessed by the adapted IOS scale,and subjects were asked to make inter-temporal decisions for others with different social distances using the classic titration selection task.After exploration,it can be concluded that in the benefit situation,with the social distance getting farther and farther,individuals have more and more decisions to delay the choice.Following the optimal decision,they choose to delay the benefit for friends and strangers.In the loss situation,they tend to choose immediate loss due to the presence of loss aversion and are not affected by social distance.On the basis of experiment 1,experiment 2 introduced risk factors to discuss theinfluence of social distance and risk preference on inter-temporal decision-making under the situation of gain and loss.The results show :(1)In the context of gain and loss,risk-averse decision-making behaviors occur in high-risk inter-temporal decision-making,which is manifested as more immediate decision-making behaviors among friends and strangers than among themselves in the context of gain and loss.(2)In the context of gain and loss,risk-seeking decision-making behavior appears in the inter-temporal decision-making with low risk,which is manifested as more delayed decision-making behaviors in the benefit context than in the loss context,and more delayed decision-making behaviors in friends and strangers than in the self.In a word,no matter gain or loss,or high or low risk,individuals will try their best to ensure the interests of friends and strangers in inter-temporal selection,and the farther the social distance,the more they care about their gains and losses.The research results further explain the level of interpretation theory and provide a scientific reference for individuals to make decisions in realistic inter-temporal situations.