In this paper, we study how increasing the cognitive demands of multitasking affects time preferences. The novelty of this paper is that it studies how time perception mediates the effect of multitasking on time preferences. Results from experimental psychology have demonstrated that people tend...

We study Nature's trade-off when endowing people with the cognitive ability to distinguish between different time periods or different prizes. Our key premise is that cognitive ability is a scarce resource, to be deployed only where and when it really matters. We show that this simple insight...