Memory, anticipation, and future-bias

One proposed explanation for a particular kind of temporal preference lies in a disparity between the emotional intensity of memory compared to anticipation. According to the memory/anticipation disparity explanation, the utility of anticipation of a particular event if that event is future, whether positive or negative, is greater than the utility of retrospection of that same event if it is past, whether positive or negative, and consequently, overall utility is maximized when we prefer negative events to be located in the past rather than the future, and positive ones in the future rather than the past. To have this preference is to be (at least apparently) future biased. If this explanation is correct, it would tend to confer rational justification upon these preferences. This paper empirically investigates this explanation. Our results suggest that, at most, this explanation might be a partial one of some people’s preferences some of the time, rather than a general explanation of future bias. In turn, this lends some indirect support to a competing explanation that appeals to temporal asymmetries in emotion and attention. Since that explanation would arguably tend not to confer rational justification upon (apparently) future-biased preferences, we argue that our findings provide some reason to be skeptical that these preferences are, in general, rationally justified.