Abstract
ObjectiveThis study aimed to investigate the association between time preference (i.e., time discounting and hyperbolic time discounting) and personal values (the areas of priority values and commitment to value) in a sample of adult community residents in Japan.MethodsData from respondents (N = 2787) who completed the wave 1 and 3 surveys of a three-wave panel study of adult community residents in municipalities in Tokyo and suburban areas spanning 2010–2017 were analysed. Time discount rate and hyperbolic discount were measured using a three-item choice-based scale at the wave 1. Areas of priority value at present and at age 15 were measured by 11 questions for different value areas at the wave 3; the commitment to value at present and age 15 was measured by the Personal Value Questionnaire-II (PVQ-II) at the wave 3. Linear regression analyses were conducted of priority areas of values and commitment to value on time preference indicators, adjusting for sociodemographic variables and childhood socioeconomic status.ResultsAfter excluding those with missing responses, data from 1880 and 1958 respondents were subject to analyses on time discounting and hyperbolic time discounting, respectively. Time discount rate was significantly and negatively associated with the value area of maintaining a stable life at present. Hyperbolic time discounting was significantly and negatively associated with the commitment to value at age 15.ConclusionThere may be an association between time preference and personal values. Time discounting and hyperbolic time discounting may be associated with different aspects of personal values, i.e., area of priority values and commitment to value, respectively.
Highlights
Personal values are defined as broad, desirable, and transsituational goals and underlie and guide attitudes and behaviour of individuals [1]
As the first step to know the relationship between personal values and time preference, the present study aims to investigate the cross-sectional associations of time preference with personal values at present assessed by a self-report questionnaire in a large community adult sample in Japan
Characteristics of the sample After excluding respondents who had a missing response in demographic variables and indicators of personal value (n = 303), those with irrational responses to the time discount scale (IR1, n = 75; irrational group 2 (IR2), n = 143; switcher group (SW), n = 51; and irrational group 3 (IR3), n = 176) and those with any missing response on Q1, Q2 or Q3 (n = 159), data from 1880 respondents were subject to further analysis on time discount
Summary
Personal values are defined as broad, desirable, and transsituational goals and underlie and guide attitudes and behaviour of individuals [1]. The determinants and health impacts of personal value are still largely understudied [1]. A number of variables may affect the acquisition and character of personal value. Gender and age are associated with personal value [8, 10]. Personality traits are thought to be key components in the development of personal value. A previous metaanalysis showed the association between Big Five personality traits and the areas of priority values: openness to experience is associated with self-direction, stimulation and universalism; agreeableness with benevolence and universalism; and extraversion with power, achievement orientation and stimulation seeking [11]. Other personal psychological factors may be associated with personal values
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