Limited time perspective, values, and greed: Imagining a limited future reduces avarice in extrinsic people

We explored the adage that “at the end of life nobody wishes they’d made more money”, by inducing a limited-time perspective (LTP) in some participants. In Study 1, participants in the LTP condition who were high in extrinsic value orientation (EVO) became less greedy in a raffle-ticket-taking task, making them as generous as intrinsic participants. Study 2 replicated this effect and demonstrated the effect was robust to alternative explanations. Study 3 examined value reports directly, finding that LTP participants evidenced reduced EVO and were less proself in a decomposed prisoner’s dilemma. Results are considered via an integration of multiple lines of research including humanistic, life-span, social-cognitive, and existential perspectives, with the conclusion that a LTP can facilitate in certain individuals a reassessment and realignment of their value systems and behaviors.