Back to the Present: How Direction of Mental Time Travel Affects Similarity and Saving

Katherine L Christensen, Hal E Hershfield and Sam J Maglio

Journal of Consumer Research, 2024, vol. 51, issue 4, 761-774

Abstract: Many consumers say they want to save for the future yet struggle to do so. This research examines this saving behavior problem from a persuasive messaging standpoint. With the goal of helping people take better care of their future selves, we build on a stream of research that has found that the way people view their identities over time affects the saving decisions they make. Although past research on similarity judgments across time almost exclusively starts with the present self and moves forward to the future self, such judgments could theoretically start at any point in time. Here, we explore the possibility of backward mental time travel, by asking people to start in the future and return to the present. A series of studies shows that mentally traveling from the future to the present—rather than the present to the future—increases perceived similarity between selves across time by reducing the uncertainty of the destination self. Lab studies and two large-scale experiments indicate that, as an important outcome of this novel intervention, mentally traveling from the future to the present has a small but positive impact, systematically increasing savings intentions and savings behavior.

Keywords: mental time travel; similarity judgments; future self; financial decision making (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:oup:jconrs:v:51:y:2024:i:4:p:761-774.

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