Individual differences in long-range time representation

On the basis of experimental data, long-range time representation has been proposed to follow a highly compressed power function, which has been hypothesized to explain the time inconsistency found in financial discount rate preferences. The aim of this study was to evaluate how well linear and power function models explain empirical data from individual participants tested in different procedural settings. The line paradigm was used in five different procedural variations with 35 adult participants. Data aggregated over the participants showed that fitted linear functions explained more than 98% of the variance in all procedures. A linear regression fit also outperformed a power model fit for the aggregated data. An individual-participant-based analysis showed better fits of a linear model to the data of 14 participants; better fits of a power function with an exponent β > 1 to the data of 12 participants; and better fits of a power function with β