You Only Live Once: Present-hedonistic time perspective predicts risk propensity

Risk-taking has been linked to stable personality traits, such as impulsivity and extraversion. We propose that time perspective is another personal characteristic that affects risk taking. Specifically, we hypothesized that a habitual focus on the hedonic aspects of the present would be associated with greater risk-taking propensity in a variety of domains (e.g., health, investments, ethics). We conducted a study in which 514 participants filled out a number of scales, including the Zimbardo Time Perspective Inventory, a scale of risk-taking propensity, and the Ten-Item Personality Inventory. We observed that a Present-Hedonistic time perspective was more strongly (positively) linked to risk-taking propensity than was any other predictor, including personality traits. This relationship was observed in all studied risk-taking domains. On average, individuals who are focused on the hedonistic aspects of the present appeared to be more interested in risk-taking than are those whose do not focus on this perspective.