The Dynamic Preference Reversal Of Intertemporal Choice And Its Influencing Factor

In intertemporal choice,people’s choice preferences tend to change with the delay time of options or changes in decision-making moments.In the past,intertemporal choice research mainly focused on static preference reversal,which refers to the preference reversal caused by the change of delay time at a fixed decision moment.In addition,in the intertemporal choice,the date of obtaining the option benefit is unchanged,and the selection preference will also change with the change of the decision-making moment,and there will be a dynamic preference reversal.Through three experiments,this thesis mainly examines the dynamic preference reversal in intertemporal choice and the relationship between static preference reversal and dynamic preference reversal,and at the same time explores the factors that influence decision makers’ dynamic preference reversal.Experiment 1 adopted the two factors mixed design to explore the phenomenon of dynamic preference reversal.For the subjects in the static selection scenario,they are measured whether they have a static preference reversal;for the subjects in the dynamic selection scenario,they are measured whether they have a dynamic preference reversal.The results showed that the subjects had a significant static preference reversal under the static choice situation,and the subjects had a significant dynamic preference reversal under the dynamic choice situation.The design idea of Experiment 2 was basically the same as Experiment 1.The difference is that the within-subject design was adopted.All subjects measured the static preference reversal before measuring whether there is a dynamic preference reversal.The results found that not only did the subjects have a static preference reversal,but also a dynamic preference reversal,and the proportion of people with static preference reversal was significantly higher than the proportion of people with dynamic preference reversal.Experiment 3 based on Experiment 2,and systematically investigated which factors had significant influence to the occurrence of dynamic preference reversal,such as a consistent tendency of choice,time sunk costs,anticipated emotion,and perceptions of time intervals.The lower the tendency of subjects to maintain consistency with previous choices and the stronger the anticipated emotion activation of evaluating SS options,the probability of dynamic preference reversal occurring is higher.While time sunk cost,and time interval has no significant influence on whether the subjects have dynamic preference reversal.Based on the above research,this paper found that decision makers have time inconsistency in intertemporal choice,and clarified the difference between static preference reversal and time inconsistency,and initially explores the psychological mechanism of time inconsistency,which has strong theoretical significance.At the same time,this paper also found that the proportion of decision-makers who experienced time inconsistency was significantly lower than that of static preference reversal.This may be inspiring to strengthen self-control,that is,making decision may be an effective means to strengthen self-control in advance.