Exposure to immersive virtual environments decreases present bias

Valeria Faralla, Alessandro Innocenti, Stefano Baraldi, Sara Ermini, Luca Lusuardi, Maurizio Masini, Vincenzo Santalucia, Diletta Scaruffi and Matteo Sirizzotti

Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), 2024, vol. 108, issue C

Abstract: In a Cave Automatic Virtual Environment, we conducted an experiment to investigate the influence of future self-continuity on the delay of immediate monetary gratification. By utilizing immersive virtual environments, we aimed to accentuate the role of environmental cues in shaping behavior. Our findings revealed that these environmental stimuli had a significant impact, leading to a higher likelihood of selecting a larger delayed option. This effect was attributed to the enhanced desirability of future gratification and a reduction in the influence of present bias on future rewards. These results underscore the utility of virtual environments as a valuable tool for both testing and elucidating intertemporal choice behavior.

Keywords: Intertemporal choice; Present bias; Future self-continuity; Connectedness; Virtual reality (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:soceco:v:108:y:2024:i:c:s2214804323001805

DOI: 10.1016/j.socec.2023.102154

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