The Effect Of Time Perception On Intertemporal Choice Under The Different Income Situation And Loss Situation

Time perception is a kind of perception and judgment without the aid of an external time reference, which we estimate the speed of time lapse and length of time interval. There is a type of decision what so called intertemporal choice, people often need to weigh the costs and benefits in different time points(especially between the present and the future), and then make out their own choice. About the effect of time perception on the intertemporal choice, many scholars have made some research results. Current studies have confirmed that the different ability of time perception(high time perception group vs. low time perception group) present the opposite tendency of reaction in the intertemporal choice. Behavioral results showed that the high time perception group tend to chose smaller- current rewards in the income situation, while the low time perception group tend to chose larger-delayed rewards. In this study, we extend the length of time distance to longer time units(such as “hours”, “days”) to examine the stable characteristic of time perception. In addition, to add intertemporal choice model of the loss situation and discuss the intertemporal choice tendency of individuals under the two situation(income situation vs. loss situation).Study 1 use time replication experiment of different time units to examine the difference of the individual's time perception tendency in different time units such as “second”, “hour”, “day”, “month”, “year” and so on and to discuss the consistency of the individual's perception tendency. On the basis of study 1, we divide the individuals into two groups through time reproduction experiment to examine the difference of two groups' time perception tendency under the income situation and loss situation. In addition, we examine the choice difference of two different perception groups in intertemporal choice under different income and loss situation. The purpose is to discuss further the effect of time perception on the intertemporal choice. The results show that:(1) the time perception tendency of adult individuals in different time units is Consistent and stable.(2) there were significant differences between the two groups divided through time reproduction task in the time perception tendency.(3) the effect of time perception on the intertemporal choice is opposite in different income and loss situation. Due to the overestimate of the delay time, the high time perception group tend to chose smallercurrent rewards in the income situation, but they tend to chose larger-delayed loss in the loss situation.