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Appears in Collections:Economics Journal Articles
Peer Review Status: Refereed
Title: Psychological and Biological Foundations of Time Preference
Authors: Daly, Michael
Harmon, Colm
Delaney, Liam
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Issue Date: Apr-2009
Publisher: Wiley-Blackwell for the European Economic Association (EEA)
Citation: Daly M, Harmon C & Delaney L (2009) Psychological and Biological Foundations of Time Preference, Journal of the European Economic Association, 7 (2-3), pp. 659-669.
Abstract: This paper considers the relationship between the economic concept of time preference and relevant concepts from psychology and biology. Using novel data from a time diary study conducted in Ireland that combined detailed psychometric testing with medical testing and real-time bio-tracking, we examine the extent to which individual differences in financial discounting are related to underlying biological and psychological differences. The paper finds that financial discounting is related to a range of psychological variables including consideration of future consequences, self-control, conscientiousness, extraversion, and experiential avoidance, as well as being predicted by heart rate variability and blood pressure.
Type: Journal Article
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Rights: The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study.
Affiliation: Socio-Management
University College Dublin (UCD)

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