Effects of emotion on intertemporal decision-making: Explanation from the single dimension priority model

Abstract

<p id="p00005">Studies show that significant differences are found in intertemporal choice between people in positive and negative emotions. However, the mechanism underlying this effect is underexplored. This study aimed to reveal the process mechanism of emotions on intertemporal decision making on the basis of the single dimension priority model by using a process-oriented method-a visual analog scale. <break/>We conducted three studies, where emotions were induced by video clip-induced technique to trigger target emotions (positive, neutral and negative). In study 1, the effects of emotions on intertemporal choice was investigated. This study used a 3 (emotion: positive, neutral, negative) × 2 (delay amount: 100, 1000 yuan) × 5 (delay time: 10, 30, 90, 180, 360 days) mixed design with emotion as a between-subjects variable. Participants were randomly assigned to positive, neutral, and negative conditions and were asked to complete the delay discounting task. In study 2, the process mechanism of emotions on intertemporal choice with a between-subjects design (emotion: positive, negative) was explored. Participants in each condition were asked to complete the delay discounting task and to compare the difference in the delay dimension with that on the outcome dimension. In studies 3a and 3b, 2 (emotion: positive, negative) × 2 (priming: time priming/money priming, no priming) between-subjects designs were used to manipulate the difference-comparing process and explore whether the effect of emotions on intertemporal choice disappeared. <break/>The results were observed as follows: (1) Emotions affected intertemporal choice significantly. Participants in the positive condition preferred the delay reward more than participants in the negative and neutral condition. (2) The difference-comparing process played a mediating role in the relationship between emotion and intertemporal decision making. Participants in positive emotion perceived that the difference in outcome dimension was greater than that of delay dimension and preferred the delay option. Participants in negative emotions perceived opposite and tended to choose the immediate choice. (3) The effect of emotions on intertemporal decision making disappeared when the difference-comparing process was manipulated. <break/>In summary, this study revealed the psychological mechanism of emotions on intertemporal decision making from the perspective of decision-making process and added important procedural evidence to the single dimension priority model.