Gains vs Losses: Anticipation is associated with time preference, such that the more people enjoy anticipating an event, the more they prefer to delay it, & the more they dread it, the more they prefer to accelerate it

Kisses vs. shocks: Anticipation asymmetries explain time preferences for gains vs. losses. David J. Hardisty, Shane Frederick, Elke U. Weber. Under review. http://davidhardisty.info/downloads/Dread.Manuscript.31.docx

Abstract: The dread of future losses weighs more heavily than the pleasure of anticipating future gains, even after controlling for loss aversion. This happens because waiting for a gain is a mixed emotional experience that is both pleasurable (due to savoring) and painful (due to impatience), whereas waiting for a loss is a more unidimensionally painful experience (dread). Anticipation is associated with time preference, such that the more people enjoy anticipating an event, the more they prefer to delay it, and the more they dread it, the more they prefer to accelerate it. In combination, these findings explain and mediate the "sign" effect in discounting, i.e., the fact that losses are discounted less than gains.

Keywords: intertemporal choice, delay discounting, framing, affect