{"pk":29029,"title":"Planning failures induced by budgetary overruns cause intertemporal impulsivity","subtitle":null,"abstract":"Recent research has identified intertemporal impulsivity as a critical cognitive variable for explaining the autocatalyticnature of socioeconomic status (SES). But how exactly this relationship transpires has not been clearly identified. Wepresent results from a novel experimental study, demonstrating that decision-makers’ time preference becomes morepresent-focused when they experience budgetary overruns in a sequential decision-making task. On the basis of theseresults, we hypothesize that steep intertemporal discounting in low SES individuals may arise as a rational metacognitiveadaptation to persistently experiencing planning and control failures in long-term plans. Consilient evidence in support ofthis hypothesis and downstream policy implications are briefly discussed.","language":"eng","license":{"name":"","short_name":"","text":null,"url":""},"keywords":[],"section":"Poster Presentations with Abstracts","is_remote":true,"remote_url":"https://escholarship.org/uc/item/3g4544f2","frozenauthors":[{"first_name":"Arjun","middle_name":"","last_name":"Mitra","name_suffix":"","institution":"University of Allahabad","department":""},{"first_name":"Narayanan","middle_name":"","last_name":"Srinivasan","name_suffix":"","institution":"University of Allahabad","department":""},{"first_name":"Nisheeth","middle_name":"","last_name":"Srivastava","name_suffix":"","institution":"Indian Institute of Technology","department":""}],"date_submitted":null,"date_accepted":null,"date_published":"2019-01-01T18:00:00Z","render_galley":null,"galleys":[{"label":"PDF","type":"pdf","path":"https://journalpub.escholarship.org/cognitivesciencesociety/article/29029/galley/18900/download/"}]}