We use a social experiment to test whether the government of Zambia’s cash transfer program affects intertemporal choice. A cash transfer program may also alter expectations about future quality of life and make one happier, two conditions that can affect intertemporal decision-making and the desire to invest in the future. We find that the program affects time discounting and that psychological states are also strongly associated with time discounting, but psychological states do not mediate the effect of the cash transfer on time discounting.

中文翻译：

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大规模针对贫困的现金转移计划对跨期选择的影响

我们使用社会实验来检验赞比亚政府的现金转移计划是否影响跨期选择。现金转移计划也可能会改变对未来生活质量的预期并使人们更快乐，这两个条件会影响跨期决策和对未来的投资愿望。我们发现该计划影响时间贴现，心理状态也与时间贴现密切相关，但心理状态不会调节现金转移对时间贴现的影响。