Cultural differences in intertemporal decision making: A comparison between Chile and China

Abstract A cross‐cultural comparison is made of delay discounting in samples of participants from Chile and China. Comparisons are made based on previous literature that suggests that individuals from an Asian culture should be willing to postpone delayed rewards more than are individuals from a Latin American culture. To test the cross‐cultural validity of a hyperbolic discounting model, the model was fitted to both data sets. Additionally, a self‐enhancement measure was evaluated as a potential mediator between culture of origin and delay discounting. Seventy‐eight college students from China and 120 college students from Chile, with similar demographic backgrounds, discounted hypothetical monetary outcomes using an adjusting‐amount titration procedure. Additionally, participants completed a self‐enhancement measure. Age, academic major, gender, and grade point average were controlled. Chilean participants discounted much more steeply than Chinese nationals did. No support was obtained for the mediation of self‐enhancement between culture of origin and degree of delay discounting. In both samples, delay discounting was better described by a hyperboloid than an exponential function, the only exception being the $10,000 condition in which the medians for Chilean participants' present subjective value were equally well explained by a hyperboloid and an exponential function.