Are Impulsive Decisions Always Irrational? An Experimental Investigation of Impulsive Decisions in the Domains of Gains and Losses

Renata M. Heilman, Petko Kusev, Mircea Miclea, Joseph Teal, Rose Martin, Alessia Passanisi and Ugo Pace
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Renata M. Heilman: Department of Psychology, Babeş–Bolyai University, 400015 Cluj–Napoca, Romania
Petko Kusev: Behavioural Research Centre, Huddersfield Business School, The University of Huddersfield, Huddersfield HD1 3DH, UK
Mircea Miclea: Department of Psychology, Babeş–Bolyai University, 400015 Cluj–Napoca, Romania
Joseph Teal: Behavioural Research Centre, Huddersfield Business School, The University of Huddersfield, Huddersfield HD1 3DH, UK
Rose Martin: Department of People and Organisations, Surrey Business School, University of Surrey, Guildford GU2 7XH, UK
Alessia Passanisi: Faculty of Human and Social Sciences, UKE—Kore University of Enna, Cittadella Universitaria, 94100 Enna, Italy
Ugo Pace: Faculty of Human and Social Sciences, UKE—Kore University of Enna, Cittadella Universitaria, 94100 Enna, Italy

IJERPH, 2021, vol. 18, issue 16, 1-14

Abstract: Intertemporal choices are very prevalent in daily life, ranging from simple, mundane decisions to highly consequential decisions. In this context, thinking about the future and making sound decisions are crucial to promoting mental and physical health, as well as a financially sustainable lifestyle. In the present study, we set out to investigate some of the possible underlying mechanisms, such as cognitive factors and emotional states, that promote future-oriented decisions. In a cross-sectional experimental study, we used a gain and a loss version of an intertemporal monetary choices task. Our main behavioural result indicated that people are substantially more impulsive over smaller and sooner monetary losses compared to equivalent gains. In addition, for both decisional domains, significant individual difference predictors emerged, indicating that intertemporal choices are sensitive to the affective and cognitive parameters. By focusing on the cognitive and emotional individual factors that influence impulsive decisions, our study could constitute a building block for successful future intervention programs targeted at mental and physical health issues, including gambling behaviour.

Keywords: impulsivity; decisional domain; losses; individual predictors; delay discounting (search for similar items in EconPapers)
JEL-codes: I I1 I3 Q Q5 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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