The focus of this thesis is to explore the impact of positive affective state and moodsalience on intertemporal decision making. We found that positive affect significantly influenceintertemporal preference. We also found that when current mood becomes salient to the decisionmaker, the direction of preference changes. Specifically, we hypothesized and found thatindividuals with positive mood are more likely to choose the later larger (long term) rewardsthan the individuals with a neutral mood. We discuss three factors that could explain choicebehaviour in such situations. These factors are the willingness to maintain positive mood,temporal orientation and risk perception, and increase in the level of dopamine in brain.Moreover, our results indicate that when current positive mood is salient, individuals becomemore concerned about their affective state, and are more likely to engage in affect regulation, andas a result, more likely to prefer the sooner smaller (immediate) rewards. These findings suggestthat experiencing positive affect would increase patience and self-control. However, this is thecase when the level of mood salience is not high. When individuals’ attention is directed to theiremotional states, they tend to choose sooner smaller rewards that could assist them in keepingtheir good mood and avoiding negative feelings.
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Positive Affect, Mood Salience, and Intertemporal Decisions
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