The role of time perception in intertemporal decision-making: New exploration of time decision-making model

Cuihua BI, Huaiyuan QI
2022 Advances in Psychological Science  
Time" is the "necessity" of intertemporal decision-making. People's perception of time delay determines the result of intertemporal decision-making. In recent years, researchers have discovered that "time length perception", "time resource perception" and "time frame perception" are the main ways that time perception affects intertemporal decision-making. The neural mechanism of action of time perception contains both micro-level and macro-level. The "logarithmic/exponential time discount
more » ... , "perceptual time base model" and "multimodal drift diffusion model" provide behavioral explanations for the way time perception works. However, the existing theoretical models still have many limitations, which are mainly embodied in two aspects: "prediction deviation of long and short time interval" and "deviation of actual decision and expected decision". Therefore, it is essential to explore in-depth the fundamental ways in which time perception affects intertemporal decision-making, analyze the limitations of existing theoretical models, and propose a mechanism framework for integration. Future research urgently needs to further integrate the theoretical models of time perception, and carry out research on brain mechanisms and applications, to more fully expose the nature of time perception and help individuals and society make more rational decisions.
doi:10.3724/sp.j.1042.2022.01106 fatcat:nlajneo6dvc3xebtx4aw4g43gq