“Time-Left Versus Future-Age: How Framing Life and Healthy Life Expectancy Shapes Perceived Time and Health Decisions”
by David Faro
London Business School
Place: MA-330
Abstract
Statistics and predictions about life expectancy and healthy life expectancy feature on across a wide range of consumer-facing platforms, from retirement planning tools to health-tracking apps, wellness products, and insurance calculators. These are typically presented in future-age frame (e.g., ‘As a 50-year-old, you are expected to live until the age of 84’) or in time-left frame (e.g., ‘As a 50-year-old, you are expected to live for another 34 years’). Across seven online studies (N = 4103) and one field experiment (N = 14,422), we show that the time-left frame makes total life expectancy and healthy life expectancy feel shorter than the future-age frame. We propose that this effect occurs because, compared to the future-age frame, the time-left frame more strongly prompts individuals to engage in mental bucket-listing—thinking about the things they still want to do or achieve in their lifetime or healthspan. We demonstrate the consequences of this effect on consumer decisions and behaviors concerning health and longevity..
Bio
David Faro received his PhD in Marketing and Behavioural Science at the University of Chicago. He joined London Business School in 2006. Dr Faro’s research examines consumer and managerial decision-making. He is particularly interested in how to help consumers make better financial and health decisions. He also does research on the psychology of time perception and prosocial behaviour. Dr Faro co-directs the Strategic Branding executive-education programme at London Business School. He also teaches the “Behavioural Economics in Action” and “Crisis Leadeship” courses for degree programmes. Before joining academia, Dr Faro worked in household appliance firms in Turkey and Greece..
