Related Experiment Video
Updated: Jul 8, 2025
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
735
Scarcity makes people short-sighted? Evidence from intertemporal decision-making
Chang Zeng1, Qi Wu1, Cuihua Bi1
1School of Psychology, Sichuan Normal University, Sichuan, China.
Psych Journal
|December 18, 2023
Summary
Time scarcity increases anxiety and promotes short-sighted choices. However, a greater sense of control over time can mitigate anxiety, fostering long-term decision-making and delayed gratification.
Area of Science:
- Psychology
- Behavioral Economics
- Cognitive Science
Background:
- Modern societal pressures exacerbate time scarcity.
- Time scarcity can negatively influence decision-making, leading to short-sighted behaviors.
- Understanding the psychological mechanisms behind these choices is crucial.
Purpose of the Study:
- To investigate the impact of time scarcity on intertemporal choices.
- To examine the mediating role of anxiety in this relationship.
- To explore the moderating effect of the sense of control over time.
Main Methods:
- Three experiments were conducted to assess the effects of perceived and manipulated time scarcity.
- Mediation analysis was used to evaluate the role of anxiety.
- Moderation analysis explored the influence of the sense of control.
Main Results:
- Time scarcity was causally linked to a preference for smaller, sooner gains.
- Anxiety significantly mediated the relationship between time scarcity and intertemporal choice.
- A sense of control over time reduced anxiety under conditions of time scarcity.
Conclusions:
- Time scarcity increases anxiety, leading to short-sighted intertemporal choices.
- Developing a sense of control over time can buffer against the negative emotional and behavioral consequences of time scarcity.
- Interventions aimed at enhancing perceived control may promote more patient decision-making.
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