Effect Rules and Attention Mechanism of Probability on Immediacy Effect of Intertemporal Choice

Intertemporal choice (IC) refers to relative preferences and trade-offs for costs and benefits that occur over time, which is ubiquitous in human’s everyday life. However, due to the risk of waiting, individuals’ preferences may be affected by sense of risk. The present study takes a methodical approach to delineate the precise mechanism of probability of IC. Using eye-tracking technique, we examine the process characteristics of the well-studied behavioral effect known as the immediacy effect of IC. In Study 1, we manipulated time condition and probability levels. In Study 2, using the similar paradigm, we investigated the eye movement pattern of decision making. The behavioral result indicated that adding probability to IC options, most probability conditions reduced immediacy effect. The eye-tracking result showed that adding probability to IC options leads individuals to pay more attention to the time attribute, and the eye movement pattern predict individuals’ choices.