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...

Decisions often involve trade-offs between a more normative option and a less normative but more tempting one. The authors propose that the intrapersonal conflict that is evoked by choices involving incompatible goals can be resolved through scope-insensitive justifications. The authors describe...

This chapter provides a behavioral decision perspective on the implications of intertemporal choice research for retirement savings. In particular, we focus on two cognitive mechanisms explaining how and why future monetary outcomes are discounted: (1) changes in the perception of delayed...