Proceedings of the 3rd International Conference on Big Data Economy and Digital Management, BDEDM 2024, January 12–14, 2024, Ningbo, China

Research Article

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

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  • @INPROCEEDINGS{10.4108/eai.12-1-2024.2347163,
        author={Yiqi  Chen and Qianyu  Hu and Litong  Li and Lei  Zhou},
        title={Effect Rules and Attention Mechanism of Probability on Immediacy Effect of Intertemporal Choice },
        proceedings={Proceedings of the 3rd International Conference on Big Data Economy and Digital Management, BDEDM 2024, January 12--14, 2024, Ningbo, China},
        publisher={EAI},
        proceedings_a={BDEDM},
        year={2024},
        month={6},
        keywords={risky intertemporal choice intertemporal choice probability immediacy effect},
        doi={10.4108/eai.12-1-2024.2347163}
    }
    
  • Yiqi Chen
    Qianyu Hu
    Litong Li
    Lei Zhou
    Year: 2024
    Effect Rules and Attention Mechanism of Probability on Immediacy Effect of Intertemporal Choice
    BDEDM
    EAI
    DOI: 10.4108/eai.12-1-2024.2347163
Yiqi Chen1, Qianyu Hu1, Litong Li1, Lei Zhou1,*
  • 1: Guangdong University of Technology
*Contact email: leizhou913@gmail.com

Abstract

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.