跨期不耐:主观财务时期解释时间不一致的选择

IF 5.7 1区 管理学 Q1 BUSINESS Journal of Consumer Research Pub Date : 2023-05-02 DOI:10.1093/jcr/ucad029
Minkwang Jang, Oleg Urminsky
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引用次数: 1

摘要

消费者时间偏好的不一致性已经得到了很好的证实,并被用来解释看似短视的行为(例如,自我控制的失败)。然而,先前的研究将时间不一致的偏好(随时间变化的贴现率)与当前偏差(当结果从当前延迟时,而不是从未来时间延迟时,会产生更大的折扣)混为一谈。这项研究表明,时间不一致的偏好只有在选择被大大延迟(例如,未来几个月)时才会被可靠地观察到,这不能用当前偏见来解释。这种看似困惑的现象可以用一种新的跨时期贴现框架来解释,该框架预测,消费者在不同主观财务时期的期权之间做出选择时,会更没有耐心。因此,他们表现出不一致的时间偏好,不太愿意等待同样延迟的结果,特别是当两种选择的共同延迟将较大的后一种选择转移到下一个财务期间时。六项研究和多项补充研究表明,对主观财务期间的敏感性比目前基于当前偏见的时间贴现模型更好地解释了时间不一致的消费者偏好。
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Cross-Period Impatience: Subjective Financial Periods Explain Time-Inconsistent Choices
Abstract Inconsistency in consumer time preferences has been well established and used to explain seemingly short-sighted behaviors (e.g., failures of self-control). However, prior research has conflated time-inconsistent preferences (discount rates that vary over time) with present bias (greater discounting when outcomes are delayed specifically from the present, as opposed to from a future time). This research shows that time-inconsistent preferences are reliably observed only when choices are substantially delayed (e.g., months into the future), which cannot be explained by present bias. This seeming puzzle is explained by a novel cross-period discounting framework, which predicts that consumers are more impatient when choosing between options occurring in different subjective financial periods. As a result, they display inconsistent time preferences and are less willing to wait for an equally delayed outcome specifically when a common delay to both options moves the larger-later option into a subsequent financial period. Six studies and multiple supplementary studies demonstrate that sensitivity to subjective financial periods accounts for time-inconsistent consumer preferences better than current models of time discounting based on present bias.
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来源期刊
CiteScore
12.00
自引率
9.70%
发文量
53
期刊介绍: Journal of Consumer Research, established in 1974, is a reputable journal that publishes high-quality empirical, theoretical, and methodological papers on a wide range of consumer research topics. The primary objective of JCR is to contribute to the advancement of understanding consumer behavior and the practice of consumer research. To be considered for publication in JCR, a paper must make a significant contribution to the existing body of knowledge in consumer research. It should aim to build upon, deepen, or challenge previous studies in the field of consumption, while providing both conceptual and empirical evidence to support its findings. JCR prioritizes multidisciplinary perspectives, encouraging contributions from various disciplines, methodological approaches, theoretical frameworks, and substantive problem areas. The journal aims to cater to a diverse readership base by welcoming articles derived from different orientations and paradigms. Overall, JCR is a valuable platform for scholars and researchers to share their work and contribute to the advancement of consumer research.
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