Compared to dematerialized money, cash increases impatience in intertemporal choice

• Main Authors: Duclos, Rod, Khamitov, Mansur
• Other Authors: Nanyang Business School
• Format: Article
• Language: English
• Published: 2019
• Subjects: Intertemporal Choice; Discounting; DRNTU::Business::Marketing::Consumer behavior
• Online Access: https://hdl.handle.net/10356/89593; http://hdl.handle.net/10220/49119
• Institution: Nanyang Technological University

When it comes to trading time for money (or vice versa), people tend to be impatient and myopic. Often dramatically so. For illustration, half of people would rather collect $15 now than $30 in three months. This willingness to forego 50% of the reward to skip a 3‐month wait corresponds to an annual...