Standing in Your Peer's Shoes Hurts Your Feats: The Self-Others Discrepancy in Risk Attitude and Impulsivity.

It is often a good strategy to "stand in the other person's shoes" to see a situation from a different perspective. People frequently attempt to infer what someone else would recommend when no advisor is available to help with a decision. Such situations commonly concern intertemporal or risky choices, and the usual assumption is that lay people make such decisions differently than experts do.

Impulsive people have a compulsion for immediate gratification-certain or uncertain.

Impulsivity has been defined as choosing the smaller more immediate reward over a larger more delayed reward. The purpose of this research was to gain a deeper understanding of the mental processes involved in the decision making. We examined participants' rates of delay discounting and probability discounting to determine their correlation with time-probability trade-offs.