The Relation Between Intertemporal Choice And Risk Decision Under Loss

In daily life and work, people always need to evaluate a variety of options for decision-making. In these decisions, outcomes occur at present or future, which are called intertemporal choice. Choices among risky prospects are risky decision making. The two types of decision-making play important roles in the society, involving all aspects of people's lives, such as savings, investment, addictive behaviors, etc.According to the previous study, scholars found that intertemporal choice and risk decision-making share similar form of hyperbolic-like discounting function, showing same risk aversion in gains and risking seeking in losses. The above researches, especially the fact that the two kinds of choices share similar discounting form inspire in-depth study of the relationship between intertemporal choice and risk decision-making. Some scholars accordingly proposed that the two decisions may have same psychological process, but then their study show that although the same model, the two types of choices have different magnitude effects, so they still are independent decision-making types. Others speculated that the same forms might reflect the same underlying psychological traitsBut the current findings show that several temperamental traits (sensation seeking, extraversion-introversion and impulsivity) have different relation with the two kinds of choices, so the recent findings are inconsistent with a single-traits account. But nearly all the former researches are only involve gain situation, and the psychological traits are not closely connected with these two choices. So the present study will not only make a further research on the relationship between intertemporal choice and risky decision making in loss but also the role of explore risk preference in the two types of choices.The present research, employing the simulated experiment method, first let participants finishes the online risk preference scale, then invite those whose responses consistent with the scale's logic take part in the hypothetical decision making tasks. There are 32 valid data collected at last. Gets the following results:(1) Intertemporal choice and risky-decision making still have same discounting form-hyperbola-like function in loss condition.(2) Intertemporal choice and risky-decision making share same magnitude effect(3) Intertemporal choice and risky-decision making showing same sign effect(4) The psychological trait of risk preference has the same relationship with the two types of decision making.