Consumers' budgets are influenced by the temporal frame used for the budget period. Budgets planned for the next month are much lower than recorded expenses, while those for the next year are closer to recorded expenses (study 1). The difficulty of estimating budgets for the next year imparts...

Different framing of the same duration (1 year, 12 months, 365 days) can influence consumers’ impressions of subjective duration, and thus affect their judgments and decisions. The authors propose that ironically, self-relevance amplifies this duration framing effect. Consumers for whom a...