• Asia Marketing Journal
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• v.20 no.2
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• pp.29-40
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• 2018

Recent research reported that perception of future time is non-linearly scaled. That is, as objective time gets longer, subjective perception of the objective time does not grow proportionally. The non-linear time perception implies that the same future time feels shorter when it starts in the future than when it starts immediately. The authors call this as a future contraction effect. The current research tests two important implications of the effect regarding consumers' intertemporal preference for durable goods. First, consumers who contract future more will be more impatient for durable goods compared to those who contract less because the former would feel to use the same durable goods longer when it is purchased immediately. Second, consumers' impatience will be alleviated when their tendency to contract future is reduced. The authors find support for these predictions through two studies. Taken together, the current research demonstrates a property of time perception that has important ramifications for understanding consumers' intertemporal preference for durable goods.

• Proceedings of the Korean Institute of Intelligent Systems Conference
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• 2004.10a
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• pp.331-334
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• 2004

In this paper, we define signed interval-valued Choquet integrals and shows the signed interval-valued Choquet integrals can model violations of separability and monotonicity Furthermore, we discuss some applications to intertemporal preference, asset pricing, and welfare evauations.

• Journal of the Korean Society for Industrial and Applied Mathematics
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• v.16 no.2
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• pp.107-124
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• 2012

In this paper we conduct comparative statics for optimal consumption and portfolio selection of an agent who has a utility function of Epstein and Zin type. We derive the Slutsky equations and decompose the total effects of changes into the substitution effects and the income effects. We identify the role of the elasticity of intertemporal substitution and the coefficient of relative risk aversion.

• Korean Journal of Culture and Social Issue
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• v.27 no.2
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• pp.191-216
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• 2021

How an individual construes one's future influences everyday decisions. For example, savings and impulsive purchasing, which is highly familiar with our life, are related to future time perception. Drawing on the idea of future self-continuity, the perceived connectedness between the current and future self, this study demonstrated whether media images with various age ranges influence a sense of connectedness with one's future self as well as impatience. Furthermore, the study measured whether these relationships were moderated by the positivity of older adults and an individual's dispositional optimism in general. Results showed that watching various images of people with a wide range of age (from the 20s to 90s) in social media increased young adults' (the 20s) self-continuity and decreased their intention of impatient consumption. This effect was also moderated by the degree to which the participants perceive aging positively.