Time preference reversals refers to systematic inconsistencies between preferences and valuations in intertemporal choice. When faced with a pair of intertemporal options, people preferred the smaller-sooner option but assign a higher price to the larger-later one. Different hypotheses postulate that the differences in evaluation scale or output format between the choice and the bid tasks cause the preference reversal. However, these hypotheses have not been distinguished. In the present study, we conducted a hybrid task, which shares the same evaluation scale (...) with the bid task and shares the same output format with the choice task. By comparing these three tasks, we can figure out the key reason for time preference reversal. The eye-tracking measures reflecting attention allocation, cognitive effort and information search pattern were examined. Results showed that participants' time preference and eye-tracking measures in the hybrid task were similar to those in the choice task, but different from those in the bid task. Our findings suggest that the output format is the core reason for time preference reversal and may deepen our understanding of the mechanisms that underlie time preference reversal. (shrink)

According to the dual-system theories, the decisions in an ultimatum game are governed by the automatic System 1 and the controlled System 2. The former drives the preference for fairness, whereas the latter drives the self-interest motive. However, the association between the contributions of the two systems in UG and the cognitive process needs more direct evidence. In the present study, we used the process dissociation procedure to estimate the contributions of the two systems and recorded participants eye movements to (...) examine the cognitive processes underlying UG decisions. Results showed that the estimated contributions of the two systems are uncorrelated and that they demonstrate a dissociated pattern of associations with third variables, such as reaction time and mean fixation duration. Furthermore, the relative time advantage and the transitions between the two payoffs can predict the final UG decisions. Our findings provide evidence for the independent contributions of preference for fairness and self-interest maximizing inclinations to UG and shed light on the underlying processes. (shrink)

Despite various studies examining intertemporal choice with hypothetical rewards due to problematic real reward delivery, there remains no substantial evidence on the effect of the incentives on the decision confidence and cognitive process in intertemporal choice and no comprehensive exploration on the loss domain. Hence, this study conducts an eye-tracking experiment to examine the effect of incentive approach and measure participants' decision confidence using a between-subject design in both gain and loss domains. Results replicated previous findings which show incentives do (...) not affect intertemporal choice in the gain domain. In contrast, in the loss domain, participants in the incentivized group were more likely to choose the larger-later options than those in the non-incentivized group. Furthermore, the decision confidence and the mean fixation duration differed between the incentivized and non-incentivized groups in both gain and loss domains. These findings allow for a better understanding of the effect of incentives on intertemporal choice and provide valuable information for the design of incentives in future intertemporal experiments. (shrink)