On time: contributions from the social sciences

Abstract

This paper provides a brief review of the anthropology and psychology literature as it relates to time, an important variable in finance. First, the paper discusses ways that individuals represent time, and introduces cultural variations in the perception of time. Then the experience of time passing, and behavioral pace, is discussed. The succession of time and the orientation toward past, present, and future, are described. The paper may provide implications for academics whose finance research is related to behavior over time.