Understanding the date–delay effect: demographic and behavioral insights in intertemporal choice

Abstract

Previous research has questioned the validity of Samuelson’s Discounted Utility model, revealing certain anomalies in intertemporal choice processes. This theoretical–empirical study investigates the date–delay effect, which suggests that individuals make less impulsive monetary decisions when time is framed as calendar dates rather than as delay terms. First, we propose a theoretical definition of this anomaly, assuming the property of nonseparability. Next, we conduct an empirical analysis by using data obtained from a questionnaire distributed to Spanish university students ( N = 155 ). The results confirm the presence of the date–delay effect and its association with demographic (e.g., country of origin, age), academic and behavioral variables (e.g., sport practice, obesity), as well as the non-separability property in both date and delay scenarios. These results highlight the importance of further exploring the interplay between temporal framing and individual characteristics, offering valuable insights for future research and practical applications.