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Related Experiment Video

Updated: Jul 19, 2025

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies
08:24

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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Social Influences on Similarity Judgments and Intertemporal Choice.

Francine W Goh1, Jeffrey R Stevens1

  • 1Department of Psychology, Center for Brain, Biology and Behavior, University of Nebraska-Lincoln, Lincoln, NE, USA.

Psychological Reports
|August 14, 2023
PubMed
Summary
This summary is machine-generated.

Social influence impacts intertemporal choices. Viewing others' similarity judgments shifted preferences towards larger, delayed rewards by altering personal judgments, aiding long-term decision-making.

Keywords:
Intertemporal choicesimilarity judgmentssocial influence

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Area of Science:

  • Behavioral Economics
  • Decision Science
  • Social Psychology

Background:

  • Intertemporal choices are often modeled using discounting, focusing on time and reward value.
  • Similarity models offer an alternative, evaluating options based on attribute similarity (reward amount, time delay).
  • Social influence on individual judgment and choice is a recognized psychological phenomenon.

Purpose of the Study:

  • To investigate how social information about similarity judgments affects individual similarity judgments.
  • To determine if social influence on similarity judgments alters subsequent intertemporal choices.
  • To explore the potential of social information to promote long-term beneficial choices.

Main Methods:

  • Three studies were conducted involving participants making similarity judgments and intertemporal choices.
  • Participants' judgments and choices were assessed before and after exposure to others' similarity judgments.
  • Analysis focused on changes in personal similarity judgments and subsequent intertemporal choice preferences.

Main Results:

  • Exposure to social similarity judgments favoring larger, later rewards increased participants' preference for such options.
  • This shift in preference correlated with participants adjusting their personal similarity judgments to align with social information.
  • Social influence directly mediated the change in intertemporal choice behavior through altered similarity perceptions.

Conclusions:

  • Social information regarding similarity judgments can significantly shape intertemporal decision-making.
  • Individuals adapt their attribute-based judgments to conform to perceived social norms or preferences.
  • Harnessing social influence on similarity judgments may offer a strategy to encourage choices with long-term benefits.