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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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The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies

Published on: August 25, 2023

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Individual Differences in Intertemporal Choice.

Kristof Keidel1,2, Qëndresa Rramani3,4, Bernd Weber3,4

  • 1Department of Psychology, University of Bonn, Bonn, Germany.

Frontiers in Psychology
|May 3, 2021
PubMed
Summary
This summary is machine-generated.

Individual differences in temporal discounting, the preference for immediate rewards, are linked to socio-economic status, intelligence, and personality traits. Future research requires larger samples to clarify these associations and their neural underpinnings.

Keywords:
cognitiondecision makingmolecular geneticsneuroimagingpersonality

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Area of Science:

  • Behavioral Economics
  • Neuroscience
  • Behavioral Genetics

Background:

  • Intertemporal choice involves trade-offs between immediate and delayed rewards.
  • Temporal discounting describes the tendency to prefer smaller, sooner rewards over larger, later ones.
  • Significant individual variability exists in temporal discounting behavior.

Purpose of the Study:

  • To review the literature on individual differences in temporal discounting.
  • To identify associations with socio-economic, personality, cognitive, and genetic factors.
  • To suggest directions for future research in this maturing field.

Main Methods:

  • Narrative literature review.
  • Synthesis of findings from large-scale studies, neuroimaging, and genetic association studies.
  • Critical analysis of existing evidence and effect sizes.

Main Results:

  • Steeper temporal discounting correlates with higher impulsivity and extraversion (small effect sizes).
  • Negative correlations observed with future-oriented cognition and inhibitory control (small effect sizes).
  • Consistent association with lower intelligence (larger effect sizes), potentially moderated by socio-demographics.
  • Inconsistent neuroimaging findings and complex genetic architecture revealed by GWAS.

Conclusions:

  • Temporal discounting is associated with key socio-economic and health variables.
  • Effect sizes for most associations are small-to-medium, necessitating larger, powered studies.
  • Further research is crucial for understanding neural correlates and mediating mechanisms.