Political Ideology and Intertemporal Choice
(A2019-2239)

AUTHORS

Eugene Chan, Monash University; Leona Tam, University of Technology Sydney

KEYWORDS

time; political; financial

ABSTRACT

Political ideology and intertemporal choice are two board areas studied by researchers in many disciplines, but the relationship between them has not yet been clear. Across four studies, this research reveals that political conservatism decreases preference in reward delay (that is, increases preference for near future reward). This effect is mediated by debt aversion. The policitcl ideology effect is moderated by power. When individuals perceive themselves to be powerful, the difference between conservative ideology and liberal ideology disappears that the present preference of conservative ideology on intertemporal choice is significantly reduced. These findings are discussed in light of their implications for research on political marketing and personal financial management.