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Related Experiment Video

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The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies
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Gratitude: a tool for reducing economic impatience.

David DeSteno1, Ye Li2, Leah Dickens3

  • 1Department of Psychology, Northeastern University d.desteno@gmail.com.

Psychological Science
|April 25, 2014
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Summary

The emotion of gratitude can decrease financial impatience, even when real money is involved. This finding challenges the idea that all emotions must be suppressed for better economic decision-making.

Keywords:
decision makingemotionsopen dataopen materialsself-control

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Area of Science:

  • Behavioral Economics
  • Neuroscience
  • Psychology

Background:

  • Humans often prefer immediate rewards over delayed ones, a tendency linked to 'hot' affective processes driving short-term gratification.
  • Sadness has been shown to increase financial impatience, reinforcing the idea that negative emotions negatively impact economic decisions.

Purpose of the Study:

  • To investigate whether specific emotions, particularly gratitude, can reduce financial impatience.
  • To determine if the effects of gratitude on impatience are distinct from general happiness.

Main Methods:

  • Experimental manipulation of emotional states (gratitude, happiness) in participants.
  • Economic decision-making tasks involving real monetary rewards and varying delays.

Main Results:

  • Participants experiencing gratitude showed reduced financial impatience compared to control conditions.
  • The effect of gratitude on patience was distinct from the effects of general happiness.

Conclusions:

  • Gratitude can promote more patient economic decision-making, challenging the notion that all affective states must be suppressed.
  • Emotions can serve adaptive functions in improving financial self-control and decision-making.