Time-discounting in monetary choices is determined by aspects related to the reward, contextual factors and characteristics of a person. In the present study, we used three datasets (Ndata1 = 419; Ndata2 = 485; Ndata3= 240) to examine how well personal characteristics (sociodemographic, financial situation, self-control, cognitive abilities, negative experiencing, and trustfulness) predict time-discounting in both hypothetical and real reward scenarios. The results of the regression analyses indicate that the characteristics of a person only explain a small proportion of the variance in time-discounting (R2 ranged from .10 to .19). The only substantive predictors of time-discounting in monetary choices were financial literacy and the general tendency to delay gratification. We conclude that there remains much work to be done in explaining what determines time-discounting. However, shifting the focus from personal characteristics to the characteristics of reward and contextual factors could be of interest.
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.