Mental Temporal Accounting

11 Pages Posted: 8 Aug 2019

See all articles by Julia M. Puaschunder

Julia M. Puaschunder

Harvard University; New School for Social Research; Columbia University; Princeton University; George Washington University Center for International Business Education and Research; The New School - Bernard Schwartz Center for Economic Policy Analysis (CEPA)

Multiple version iconThere are 2 versions of this paper

Date Written: June 30, 2019

Abstract

This paper introduces Mental Temporal Accounting – the behavioral economics application of mental accounting in the time domain. While most discounting studies are in the finance domain, social and environmental components have not gotten as much attention as appearing to require based on the novel perspectives this research grants. Theoretically we may also derive conclusions for contact theory and point at opening monetary gains focuses to social and environmental cues that may nudge people to perceive time differently and act on it accordingly. As mental accounting was successfully introduced to be extendable onto time, traditional mental accounting theory (Thaler 1999) should be revisted for attention to time discounting in the social and environmental spheres alongside the economic attention. Elucidating how contexts and experiencing critical life stages of parenthood influence temporal activity allocation choices promises to improve manifold decisions on education, health, asset management, career paths and common goods preservation throughout life for this generation and the following.

Keywords: discounting, economic time, environmental time, mental temporal discounting, social time, time

Suggested Citation

Puaschunder, Julia M., Mental Temporal Accounting (June 30, 2019). RAIS Conference Proceedings - The 13th International RAIS Conference on Social Sciences and Humanities. Available at SSRN: https://ssrn.com/abstract=3434067 or http://dx.doi.org/10.2139/ssrn.3434067

Julia M. Puaschunder (Contact Author)

Harvard University ( email )

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New School for Social Research ( email )

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The New School - Bernard Schwartz Center for Economic Policy Analysis (CEPA) ( email )

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