The Economics of Instant Gratification
Page 156—Humans versus chimps:
Rosati, A. G., J. R. Stevens, B. Hare, and M. D. Hauser. “The
Evolutionary Origins of Human Patience: Temporal
Preferences in Chimpanzees, Bonobos, and
Human Adults.”
Current Biology
17 (2007): 1663–68.
Page 157—Only humans think about future:
Gilbert, D.
Stumbling on Happiness
. New York:
Knopf, 2006.
Page 158—Reversal of preferences:
Ainslie, G. “Specious Reward:
A Behavioral Theory of
Impulsiveness and Impulse Control.”
Psychological Bulletin
82 (1975): 463–96.
Page 159—“Bounded rationality”:
Mullainathan, S., and R. H. Thaler. “Behavioral Economics.”
Working Paper No. 00-27 (2000).
www.ssrn.com/abstract=245828
.
Pages 159–160—Brain responds to immediate rewards:
Cohen, J. D. “The Vulcanization of the
Human Brain: A Neural Perspective on Interactions between Cognition and Emotion.”
Journal of
Economic Perspectives
19 (2005): 3–24.
Page 160—Future versus immediate rewards:
McClure, S. M., D. I. Laibson, G. Loewenstein, and
J. D. Cohen. “Separate Neural Systems Value Immediate and Delayed Monetary Rewards.”
Science
306 (2004): 503–07.
Page 161—Put the candy away:
Painter, J. E., B. Wansink, and J. B. Hieggelke. “How Visibility
and Convenience Influence Candy Consumption.”
Appetite
38 (2002): 237–38.
Page 161—“Ten-minute delay”:
McClure, S. M., K. M. Ericson, D. I. Laibson, G. Loewenstein,
and J. D. Cohen. “Time Discounting for Primary Rewards.”
Journal of Neuroscience
27 (2007):
5796–804.
Page 163—“The Marshmallow Test”:
Mischel, W., Y. Shoda, and M. I. Rodriguez. “Delay of
Gratification in Children.”
Science
244 (1989): 933–38.
Page 164—Follow-up to the marshmallow test:
Mischel, W., Y. Shoda, and P. K. Peake. “The
Nature of Adolescent Competencies Predicted by Preschool Delay of Gratification.”
Journal of
Personality and Social Psychology
54 (1988): 687–96. See also Eigsti, I. M., V. Zayas, W. Mischel,
Y. Shoda, O. Ayduk, M. B. Dadlani, M. C. Davidson, J. Lawrence Aber, and B. J. Casey. “Predicting
Cognitive Control from Preschool to Late Adolescence and Young Adulthood.”
Psychological
Science
17 (2006): 478–84.
Page 164—Discount rate predicts self-control problems:
Ikeda, S., M.-I. Kang, and F. Ohtake.
“Hyperbolic Discounting, the Sign Effect, and the Body Mass Index.”
Journal of Health Economics
29 (2010): 268–84. See also Kirby, K. N., N. M. Petry, and W. K. Bickel. “Heroin Addicts Have
Higher Discount Rates for Delayed Rewards Than Non-Drug-Using Controls.”
Journal of
Experimental Psychology: General
128 (1999): 78–87. See also Alessi, S. M., and N. M. Petry.
“Pathological Gambling Severity Is Associated with Impulsivity in a Delay Discounting Procedure.”
Behavioural Processes
64 (2003): 345–54. See also Zauberman, G., and B. K. Kim. “Time
Perception and Retirement Saving: Lessons from Behavioral Decision Research.” Pension Research
Council Working Paper 2010-35. (2010):
www.ssrn.com/abstract=1707666
. See also Zimbardo, P.
G., and J. N. Boyd. “Putting Time in Perspective: A Valid, Reliable Individual-Differences Metric.”
Journal of Personality and Social Psychology
77 (1999): 1271–88.
Page 165—Think about the future reward first:
Weber, E. U., E. J. Johnson, K. F. Milch, H.
Chang, J. C. Brodscholl, and D. G. Goldstein. “Asymmetric Discounting in Intertemporal Choice.”
Psychological Science
18 (2007): 516–23.
Page 166—Precommitment:
Schelling, T. C. “Egonomics, or the Art of Self-Management.”
The
American Economic Review
68 (1978): 290–94.
Page 167—Constrain your future self:
Ainslie, G. “Specious Reward: A Behavioral Theory of
Impulsiveness and Impulse Control.”
Psychological Bulletin
82 (1975): 463–96.
P
age 168—A writer’s strategy:
Grossman, L. “Jonathan Franzen: Great American Novelist.”
Time
.
August 12, 2010.
Page 170—ATM intervention:
Rosen, M. I., B. J. Rounsaville, K. Ablondi, A. C. Black, and R. A.
Rosenheck. “Advisor-Teller Money Manager (ATM) Therapy for Substance Use Disorders.”
Psychiatric Services
61 (2010): 707–13. See also Black, A. C., and M. I. Rosen. “A Money
Management-Based Substance Use Treatment Increases Valuation of Future Rewards.”
Addictive
Behaviors
36 (2011): 125–28.
Pages 171–174—Thinking about present vs. future selves:
Mitchell, J. P., J. Schirmer, D. L.
Ames, and D. T. Gilbert. “Medial Prefrontal Cortex Predicts Intertemporal Choice.”
Journal of
Cognitive Neuroscience
23 (2011): 857–66. See also D’Argembeau, A., D. Stawarczyk, S. Majerus,
F. Collette, M.
Van der Linden, and E. Salmon. “Modulation of Medial Prefrontal and Inferior
Parietal Cortices When Thinking About Past, Present, and Future Selves.”
Social Neuroscience
5
(2010): 187–200. See also Ersner-Hershfield, H., G. E. Wimmer, and B. Knutson. “Saving for the
Future Self: Neural Measures of Future Self-Continuity Predict Temporal Discounting.”
Social
Cognitive and Affective Neuroscience
4 (2009): 85–92.
Page 172—Future selves are strangers:
Pronin, E., C. Y. Olivola, and K. A. Kennedy. “Doing
unto Future Selves as You Would Do unto Others: Psychological Distance and Decision Making.”
Personality and Social Psychology Bulletin
34 (2008): 224–36.
Page 175—Brain activation and self-control choice:
Mitchell, J. P., J. Schirmer, D. L. Ames, and
D. T. Gilbert. “Medial Prefrontal Cortex Predicts Intertemporal Choice.”
Journal of Cognitive
Neuroscience
23 (2011): 857–66.
Pages 176–178—Retirement savings survey:
Harris Interactive Poll. “Number of Americans
Reporting No Personal or Retirement Savings Rises.” Survey of 2,151 adults in the U. S. conducted
between November 8 and 15, 2010. Reported online February 2, 2011.
Page 177—Future-self continuity measure illustration:
Courtesy Jon Baron and Hal Ersner-
Hershfield. Ersner-Hershfield, H., M. T. Garton, K. Ballard, G. R. Samanez-Larkin, and B. Knutson.
“Don’t Stop Thinking About Tomorrow: Individual Differences in Future Self-Continuity Account for
Saving.”
Judgment and Decision Making
4 (2009): 280–86.
Page 177—Meeting future self helps students save for retirement:
Ersner-Hershfield, H., D. G.
Goldstein, W. F. Sharpe, J. Fox, L. Yeykelvis, L. L. Carstensen, and J. Bailenson. “Increasing Saving
Behavior Through Age-Progressed Renderings of the Future Self.”
Journal of Marketing Research,
in press.
Page 179—Imagining the future helps people delay gratification:
Peters, J., and C. Buchel.
“Episodic Future Thinking Reduces Reward Delay Discounting Through an Enhancement of
Prefrontal-Mediotemporal Interactions.”
Neuron
66 (2010): 138–48.
Page 180—Visualizing future self increases exercise:
Murru, E. C., and K. A. Martin Ginis.
“Imagining the Possibilities: The Effects of a Possible Selves Intervention
on Self-Regulatory
Efficacy and Exercise Behavior.”
Journal of Sport & Exercise Psychology
32 (2010): 537–54.
Page 181—Hyperopia
. Kivetz, R., and A. Keinan. “Repenting Hyperopia: An Analysis of Self-
Control Regrets.”
Journal of Consumer Research
33 (2006): 273–82.
