scholarly journals The Effect of Language on Economic Behavior: Evidence from Savings Rates, Health Behaviors, and Retirement Assets

2013 ◽  
Vol 103 (2) ◽  
pp. 690-731 ◽  
Author(s):  
M. Keith Chen
Keyword(s):  
Health Behaviors ◽  
Intertemporal Choice ◽  
Safer Sex ◽  
Economic Behavior ◽  
Language Structure ◽  
The Future ◽  
Encode Time ◽  
Savings Rates

Languages differ widely in the ways they encode time. I test the hypothesis that the languages that grammatically associate the future and the present, foster future-oriented behavior. This prediction arises naturally when well-documented effects of language structure are merged with models of intertemporal choice. Empirically, I find that speakers of such languages: save more, retire with more wealth, smoke less, practice safer sex, and are less obese. This holds both across countries and within countries when comparing demographically similar native households. The evidence does not support the most obvious forms of common causation. I discuss implications for theories of intertemporal choice. (JEL D14, D83, E21, I12, J26, Z13)

scholarly journals Determining the psychometric properties of a novel questionnaire to measure “preparedness for the future” (Prep FQ)

2021 ◽  
Vol 19 (1) ◽  
Author(s):  
Daren K. Heyland ◽  
J. Paige Pope ◽  
Xuran Jiang ◽  
Andrew G. Day
Keyword(s):  
Quality Of Life ◽  
Construct Validity ◽  
Health Behaviors ◽  
Psychometric Properties ◽  
Well Being ◽  
High Quality ◽  
The Future ◽  
Quality Of Death ◽  
Test Retest Reliability

Abstract Background People are living longer than ever before. However, with living longer comes increased problems that negatively impact on quality of life and the quality of death. Tools are needed to help individuals assess whether they are practicing the best attitudes and behaviors that are associated with a future long life, high quality of life, high quality of death and a satisfying post-death legacy. The purpose of paper is to describe the process we used to develop a novel questionnaire (“Preparedness for the Future Questionnaire™ or Prep FQ”) and to define its psychometric properties. Methods Using a multi-step development procedure, items were generated, for the new questionnaire after which the psychometric properties were tested with a heterogeneous sample of 502 Canadians. Using an online polling panel, respondents were asked to complete demographic questions as well as the Prep-FQ, Global Rating of Life Satisfaction, the Keyes Psychological Well-Being scale and the Short-Form 12. Results The final version of the questionnaire contains 34 items in 8 distinct domains (“Medico-legal”, “Social”, “Psychological Well-being”, “Planning”, “Enrichment”, “Positive Health Behaviors”, “Negative Health Behaviors”, and “Late-life Planning”). We observed minimum missing data and good usage of all response options. The average overall Prep FQ score is 51.2 (SD = 13.3). The Cronbach alphas assessing internal reliability for the Prep FQ domains ranged from 0.33 to 0.88. The intra-class correlation coefficient (ICC) used to assess the test–retest reliability had an overall score of 0.87. For the purposes of establishing construct validity, all the pre-specified relationships between Prep FQ and the other questionnaires were met. Conclusion Analyses of this novel measure offered support for its face validity, construct validity, test–retest reliability, and internal consistency. With the development of this useful and valid scale, future research can utilize this measure to engage people in the process of comprehensively assessing and improving their state of preparedness for the future, tracking their progress along the way. Ultimately, this program of research aims to improve the quality and quantity of peoples live by helping them ‘think ahead’ and ‘plan ahead’ on the aspects of their daily life that matter to their future.

Family Health Behaviors

2019 ◽  
Vol 109 (9) ◽  
pp. 3162-3191 ◽  
Author(s):  
Itzik Fadlon ◽  
Torben Heien Nielsen
Keyword(s):  
Health Behaviors ◽  
Administrative Data ◽  
Preventive Care ◽  
Adult Children ◽  
Family Members ◽  
Family Health ◽  
Health Shocks ◽  
Health Related Behaviors ◽  
The Future ◽  
Health Related

We study how health behaviors are shaped through family spillovers. We leverage administrative data to identify the effects of health shocks on family members’ consumption of preventive care and health-related behaviors, constructing counterfactuals for affected households using households that experience the same shock but a few years in the future. Spouses and adult children immediately improve their health behaviors and their responses are both significant and persistent. These spillovers are far-reaching as they cascade even to coworkers. While some responses are consistent with learning information about one’s own health, the evidence points to salience as a major operative explanation. (JEL D15, D83, I12, J12)

scholarly journals What the future holds and when A description-experience gap in intertemporal choice

2018 ◽  
Author(s):  
Junyi Dai ◽  
Thorsten Pachur ◽  
Timothy Joseph Pleskac ◽  
Ralph Hertwig
Keyword(s):  
Intertemporal Choice ◽  
Temporal Uncertainty ◽  
The Future

This project is aimed at replicating and extending the results of the project Intertemporal choice under temporal uncertainty.

scholarly journals A influência de imagens emocionais na dilatação pupilar e na tomada de decisão econômica intertemporal

2021 ◽  
Author(s):  
◽  
W. Pires
Keyword(s):  
Intertemporal Choice ◽  
Traditional Theory ◽  
Pupillary Dilation ◽  
Emotional Stimuli ◽  
Economic Decisions ◽  
Negative Images ◽  
The Future ◽  
Long Time ◽  
Future 2 ◽  
Economic Choices

The traditional theory of finance, for a long time, has been considered as absolutely correct. The traditional thought originated from the economy, which suggests that people make decisions in a strictly rational way in the ordinary economic choices. Contrary to this, at present, in Behavioral Economics, it is known that decisions are not made by humans with total rationality. Emotional stimuli by images, then, were inserted to detect possible interference in decisions. The present study used 3 sets of emotional images: positive, negative and neutral, previously presented to different volunteers and displayed to determine the relationship between emotional images, the respective pupil responses, and inter-temporal economic choices. In which the first question deals with receiving wages in ascending or descending order over 6 years. The second question refers to the minimum required amount to be worth a 1- month wait and for a 1-year wait to receive R$ 1,000.00 earned and the third question concerns a hosting earned to enjoy in 1 month. in a 3-star hotel, or, in 1 year, in a 5-star hotel There is evidence that the positive and negative images provided greater pupillary dilation in relation to its baseline. For the first and three intertemporal economic questions, no interference from emotional stimuli in the choices was observed, with only about half of the volunteers opting for a choice that provides the greatest gain, regardless of the stimulus to which they were previously induced. This indicates that the emotional stimulus, although proven to be absorbed by the volunteers through the measurement of pupillary dilation, was not decisive to interfere in the intertemporal choice of these two questions (1 and 3), as they supported incoherent choices regardless of the type of stimulus. In question 2, it was observed that when faced with a discount from the near (1 month) and distant (1 year) future, they made decisions inconsistent with the economic logic, since the averages of the results of the Future Discount 1 (DF1) and Discount of the Future 2 (DF2) were 0.5170 for 1 year and 0.1987 for 1 month annualized. Thus, the theory assumes that DF1 is equal to DF2. This study is the first, to the best of our knowledge, to relate the interference of the emotional state, measured by a type of biosignal, to intertemporal economic decisions

scholarly journals A guaranteed immediate payout reduces impatience of financially constrained individuals

2022 ◽  
Vol 119 (3) ◽  
pp. e2108832119
Author(s):  
Kimberley van der Heijden ◽  
Anouk Festjens ◽  
Caroline Goukens ◽  
Tom Meyvis
Keyword(s):  
Lived Experiences ◽  
Intertemporal Choice ◽  
Time Preferences ◽  
Financial Strain ◽  
Financial Constraint ◽  
Capture Time ◽  
Future Needs ◽  
The Future ◽  
Choice Tasks

A large stream of literature found that individuals who experience financial strain are particularly concerned about their present needs—that is, they are more likely to choose smaller immediate payoffs over larger future payoffs. In contrast, some recent findings suggest that financially constrained individuals may be more concerned about future needs instead (e.g., they are relatively more likely to invest in long-lived durables than in short-lived experiences). We propose that the use of traditional intertemporal choice tasks has made prior studies overly sensitive to the myopia-inducing effects of financial constraint. These tasks typically offer a choice between receiving a smaller payoff in the present versus a larger payoff in the future. Across three studies, we observe that, as long as some immediate payout is guaranteed, financially constrained individuals are as likely as nonconstrained individuals to accept a delay for a larger payoff. These findings qualify prior demonstrations of the myopic effects of financial constraint and suggest that the traditionally used choice paradigm might not accurately capture time preferences, particularly for financially constrained individuals. Furthermore, they provide possible interventions for those interested in reducing the myopia of financially constrained individuals who are facing all now versus all later decisions.

scholarly journals THE ROLE AND BEHAVIOR OF THE INDIVIDUAL IN THE DEVELOPMENT OF SOCIAL CAPITAL

2021 ◽  
Vol 2 (1) ◽  
pp. 39-44
Author(s):  
Natalia Rіabinina
Keyword(s):  
Economic Growth ◽  
Social Capital ◽  
General Concept ◽  
Economic Behavior ◽  
Economic Changes ◽  
Economic Concept ◽  
The Future ◽  
Main Components ◽  
The Individual ◽  
And Behavior

At the intersection of the past and the future there is a point of present, which, due to external and internal socio-economic requirements, activates the subject himself, when uniting the sciences of economics and sociology, as well as psychology, philosophy and law, we see the development of a new scientific direction - social capital. Interdisciplinary and multi-vector methodological conception on development has the capabilities to use in all spheres of life, to develop a more productive and inclusive economy because it works directly with people and for people. The development of society and the formation of institutions of citizenship and economic growth are inherently connected with the new economic and social concept, which is an incentive for self-organization, and the establishment of interpersonal and intergroup relations, leading to a path of harmonization based on sincere help and trust. Formulation of the goals and objectives of the article (setting a task). A large amount of research on social capital, a wide and diverse direction of study directly inhibits the systemicity and orderliness of concepts and theoretical knowledge, so at the beginning of the study it is necessary to put problems, tasks, a place in the knowledge system and connection with other disciplines. The purpose of the study is to separate and determine the individuality of a person in the process of social capital, attitude and behavior of the individual and group at all levels of this concept, analysis, specifics and structural content of social capital. Methodology. During the research, to study and achieve the goal, the analysis of theoretical aspects and generalizations of scientific sources, dialectic cognition of the formation of social capital, revealed a kind of economic concept, methods of induction and deduction, abstraction of theoretical provisions and dialectic cognition were carried out. Results. The article raises the issue of the resource of socio-economic growth and improvement, on the basis of intergroup and interpersonal interactions and relationships at a high micro level, on the foundation of trust and cooperation between people, single work and development of state, economic, civic platforms. It is with humans that the mechanism of development, accumulation and effective use begins. The accumulation of individuality in the development of social capital of the economic system and the main components of social capital, such as trust and reliability, are studied. The analysis of economic behavior of the individual when making a rational decision in the world of economic changes is carried out. The practical component of the main provisions of the concept and levels of social capital, and its role in the general concept of the economic component can further develop and be used in the process of developing the analysis and development of the individual with individual behavior and personal decision-making. Value/originality. The theory of social capital itself is new and little-studied, so any vector of study and research gives a new impetus to interest and further development of the detection of theoretical aspects, generalization to definition and essence, outlining the main directions of development and formation for the future.

Sign in / Sign up

Export Citation Format

Share Document