Psychological time and intertemporal preference.

Many decisions people make involve intertemporal tradeoffs between current and future costs and benefits. Because outcomes in such decisions are separated by time (i.e., delay), the perception of time should play an important role. Traditionally, researchers have treated time as objective information (i.e., calendar time) and examined the effect of different delays on intertemporal preference. Recently, researchers have started to take into account the subjective nature of future time perception and to use psychological (subjective) time rather than objective calendar time as a focal explanatory variable for intertemporal preference. The subjective nature of future time perception and its impact on intertemporal preference has particular significance because it implies that one's impatience can be reduced by altering his or her time perception.

Controllable objects seem closer.

More and more we interact with other people across varying amounts of geographical distance. What shapes our categorization of a fixed amount of such distance as near or far? Building upon and expanding prior work on the association between spatial distance perception and reachability, we argue that people judge a given geographical distance as subjectively smaller when they can exert control across that distance. Studies 1-4 demonstrate this effect of control on spatial distance judgment in disparate contexts, including political, work, and family domains, and explore implications of such judgments for the downstream judgment of travel time to a location (Study 2). We do not find that one's desire for control moderates these effects (Study 4). Supporting a cognitive association argument, we find evidence that the association between control and distance is bidirectional, with subjective distance influencing perceived controllability (Study 5). Theoretical and practical implications of these findings are discussed.

Brain activity in valuation regions while thinking about the future predicts individual discount rates.

People vary widely in how much they discount delayed rewards, yet little is known about the sources of these differences. Here we demonstrate that neural activity in ventromedial prefrontal cortex (VMPFC) and ventral striatum (VS) when human subjects are asked to merely think about the future--specifically, to judge the subjective length of future time intervals--predicts delay discounting. High discounters showed lower activity for longer time delays, while low discounters showed the opposite pattern. Our results demonstrate that the correlation between VMPFC and VS activity and discounting occurs even in the absence of choices about future rewards, and does not depend on a person explicitly evaluating future outcomes or judging their self-relevance. This suggests a link between discounting and basic processes involved in thinking about the future, such as temporal perception. Our results also suggest that reducing impatience requires not suppression of VMPFC and VS activity altogether, but rather modulation of how these regions respond to the present versus the future.

Can Victoria's Secret change the future? A subjective time perception account of sexual-cue effects on impatience.

Sexual cues influence decisions not only about sex, but also about unrelated outcomes such as money. In the presence of sexual cues, individuals are more impatient when making intertemporal monetary tradeoffs, choosing smaller immediate amounts over larger delayed amounts. Previous research has emphasized the power of sexual cues to induce a strong general psychological desire to obtain not only sex-related but all available rewards. In the case of money, that heightened appetite enhances the perceived value of immediate monetary rewards. We propose a different psychological mechanism to explain this effect: Sexual cues induce impatience through their ability to lengthen the perceived temporal distance to delayed rewards. That is, sexual cues make the temporal delay seem subjectively longer, resulting in greater impatience for monetary rewards. We attribute this process to the arousing nature of sexual cues, thus extending findings on arousal and overestimation of elapsed time to the domain of future time perception and intertemporal preferences.