Research output

Article in Journal ()

Psychological and Biological Foundations of Time Preference

Daly M, Harmon C & Delaney L (2009) Psychological and Biological Foundations of Time Preference, Journal of the European Economic Association, 7 (2-3), pp. 659-669.

This paper considers the relationship between the economic concept of time preference and relevant concepts from psychology and biology. Using novel data from a time diary study conducted in Ireland that combined detailed psychometric testing with medical testing and real-time bio-tracking, we examine the extent to which individual differences in financial discounting are related to underlying biological and psychological differences. The paper finds that financial discounting is related to a range of psychological variables including consideration of future consequences, self-control, conscientiousness, extraversion, and experiential avoidance, as well as being predicted by heart rate variability and blood pressure.

AuthorsDaly Michael, Harmon Colm, Delaney Liam
Publication date04/2009
PublisherWiley-Blackwell for the European Economic Association (EEA)
ISSN 1542-4766

Journal of the European Economic Association: Volume 7, Issue 2-3

© University of Stirling FK9 4LA Scotland UK • Telephone +44 1786 473171 • Scottish Charity No SC011159
My Portal