People tend to choose smaller, immediate rewards over larger, delayed rewards. This phenomenon is thought to be associated with emotional engagement. However, few studies have demonstrated the real-time impact of incidental emotions on intertemporal choices. This research investigated the effects of music-induced incidental emotions on intertemporal choices, during which happy or sad music was played simultaneously. We found that music-induced happiness made participants prefer smaller-but-sooner rewards (SS), whereas music-induced sadness made participants prefer larger-but-later rewards (LL). Time perception partially mediated this effect: the greater the perceived temporal difference, the more likely they were to prefer SS. Tempo and mode were then manipulated to disentangle the effects of arousal and mood on intertemporal choices. Only tempo-induced arousal, but not mode-induced mood, affected intertemporal choices. These results suggest the role of arousal in intertemporal decision making and provide evidence in support of equate-to-differentiate theory with regard to the non-compensatory mechanism in intertemporal choices.
Keywords: Intertemporal choice; arousal; incidental emotions; music; time perception.