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The globalizability of temporal discounting

K. Ruggeri,A. Panin,M. Vdovic,Bojana Većkalov,Nazeer abdul-Salaam,Jascha Achterberg,Carla Akil,Jolly Amatya,K. Amatya,T. Andersen,S. Aquino,Arjoon Arunasalam,Sarah Ashcroft-Jones,A. Askelund,Nélida Ayacaxli,A. B. Sheshdeh,Alexander Bailey,Paula Barea Arroyo,Genaro Basulto Mejía,M. Benvenuti,Mari Louise Berge,Aliya Bermaganbet,Katherine Bibilouri,L. Bjørndal,Sabrina Black,Johanna Blomster Lyshol,Tymofii Brik,E. K. Buabang,M. Burghart,Aslı Bursalıoğlu,Naos Mesfin Buzayu,M. Čadek,Nathalia Melo de Carvalho,A. Cazan,Melis Çetinçelik,Valentino E Chai,Patricia Chen,Shiyi Chen,Georgia Clay,Simone D'Ambrogio,K. Damnjanović,Grace Duffy,Tatianna M. Dugue,Twinkle Dwarkanath,E. Envuladu,Nikola Erceg,Celia Esteban-Serna,Eman S A Farahat,R. Farrokhnia,Mareyba Fawad,Muhammad Fedryansyah,D. Feng,S. Filippi,Matías Fonollá,René Freichel,L. Freira,Maja Friedemann,Ziwei Gao,Suwen Ge,Sandra J. Geiger,Leya George,Iulia Grabovski,Aleksandra Gracheva,A. Gracheva,A. Hajian,N. Hasan,Marlene Hecht,Xinyi Hong,B. Hubená,Alexander Ikonomeas,S. Ilić,David Izydorczyk,Lea Jakob,M. Janssens,H. Jarke,O. Kácha,K. Kalinova,F. Kapingura,Ralitsa Karakasheva,D. Kasdan,E. Kemel,Peggah R. Khorrami,Jakub M. Krawiec,Nato Lagidze,Aleksandra Lazarević,A. Lazić,H. Lee,Žan Lep,S. Lins,I. Lofthus,Lucía Macchia,S. Mamede,Metasebiya Ayele Mamo,L. Maratkyzy,Silvana Mareva,Shivika Marwaha,Lucy McGill,S. McParland,A. Melnic,Sebastian A. Meyer,S. Mizak,A. Mohammed,Aizhan Mukhyshbayeva,J. Navajas,Dragana Neshevska,Shehrbano Jamali Niazi,A. Nieto,Franziska Nippold,J. Oberschulte,T. Otto,R. Pae,Tsvetelina Panchelieva,S. Park,Daria Stefania Pascu,I. Pavlovič,M. Petrović,Dora Popović,Gerhard M. Prinz,Nikolay R. Rachev,Pika Ranc,Josip Razum,Christina Eun Rho,Leonore Riitsalu,F. Rocca,R. Rosenbaum,James Rujimora,B. Rusyidi,Charlotte Rutherford,Rand Said,Inés Sanguino,Ahmet Kerem Sarikaya,Nicolas Say,Jakob Jakob,Mary Shiels,Yarden Shir,Elisabeth D. C. Sievert,I. Soboleva,Tina Solomonia,Siddhant Soni,Irem Soysal,F. Stablum,F. Sundström,Xintong Tang,Felice Tavera,Jacqueline Taylor,Anna-Lena Tebbe,K. Thommesen,Juliette Tobias-Webb,A. Todsen,F. Toscano,Tran Tran,Jason Trinh,Alice Turati,Kohei Ueda,Martina Vacondio,V. Vakhitov,A. Valencia,C. V. Reyn,T. Venema,Sanne Verra,J. Vintr,M. Vranka,Lisa Wagner,Xue Wu,Ke Xing,Kailin Xu,S. Xu,Yuki Yamada,Aleksandra Yosifova,Z. Zupan,Eduardo Garcia-Garzon

Published 2021 in Nature Human Behaviour

ABSTRACT

Economic inequality is associated with preferences for smaller, immediate gains over larger, delayed ones. Such temporal discounting may feed into rising global inequality, yet it is unclear whether it is a function of choice preferences or norms, or rather the absence of sufficient resources for immediate needs. It is also not clear whether these reflect true differences in choice patterns between income groups. We tested temporal discounting and five intertemporal choice anomalies using local currencies and value standards in 61 countries (N = 13,629). Across a diverse sample, we found consistent, robust rates of choice anomalies. Lower-income groups were not significantly different, but economic inequality and broader financial circumstances were clearly correlated with population choice patterns. Ruggeri et al. find in a study of 61 countries that temporal discounting patterns are globally generalizable. Worse financial environments, greater inequality and high inflation are associated with extreme or inconsistent long-term decisions.

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