Saving for your future self: The role of imaginary experiences. Issue 4 (4th July 2017)

• Record Type: Journal Article
• Authors: Macrae, C. Neil; Mitchell, Jason P.; Golubickis, Marius; Ho, Nerissa S. P.; Sherlock, Rain; Parlongo, Raffaella; Simpson, Olivia C. M.; Christian, Brittany M.
• Is Part Of: Self and identity. Volume 16:Issue 4(2017)
• Page Start: 384
• Page End: 398
• Publication Date: 2017-07-04
• Subjects: Self -- prospection -- mental imagery -- visual perspective -- intertemporal choice; Self -- Periodicals; Identity (Psychology) -- Periodicals; Cognition -- Periodicals; Motivation (Psychology) -- Periodicals; 155.205
• DOI: 10.1080/15298868.2016.1264465
• Languages: English
• ISSNs: 1529-8868

Abstract

Abstract: Despite increased longevity, many people fail to save the funds necessary to support their retirement. In an attempt both to elucidate and remedy this failing, research exploring the "future-self continuity" hypothesis has revealed that temporal discounting is decreased and saving increased when connections between one's current and future self are strengthened. Here, we explored the possibility that a basic component of mental imagery – spatial visual perspective – may be an important determinant of people's decisions to spend now or save for the future. The results of two experiments supported this prediction. Rates of saving were enhanced when a distant-future event was generated from a third-person vs. first-person vantage point, an effect that was mediated by visual bodily awareness during mental imagery.