Relationship between the bias towards the present and the intertemporal choice
Carlos Gabriel Borbón Morales, Eduardo Leyva León, Marisol Arvizu Armenta
According to the behavioral economics approach, it is assumed that people are inconsistent when making choices at different moments in time, among them is the bias towards the present, (tendency of individuals to give greater importance to the rewards close to a present time). The objective of this article is to relate the intertemporal choices of 84 young adults, their gender and the bias towards the present. Through a quasi-experimental design using a choice test, it was found that 45% present bias towards the present in their choices. No statistically significant differences were found between age, time to choose and bias in the elections; on the other hand, significant differences were found regarding sex and bias towards the present. The results show that the participants' choices are not consistent.