You may not have heard the term “intertemporal choice” but I’m sure you all experience it often. Intertemporal choice (DeSteno, 2009) is a situation in which decisions hold different consequences as time unfolds.
Here’s an example using the impact of anger in a negotiation:
If we are in a negotiation, and I become angry at you and threaten to walk away from the table if you don’t accept my offer, there are likely to be different consequences of my anger in the short and long term. In the short term, I may be able to convince you to accept my offer and so “win” the negotiation. However, in the long term, you may refuse to negotiate with me again, and you may also tell others about my behaviour which may damage my reputation.
Intertemporal choice is often about short term gain for long term pain, but it can also work the other way around. If I forego that third chocolate donut for lunch, I may “suffer” the loss of enjoyment that eating it would give me, but it might be better for my long term health!
The ability to act cooperatively often involves delaying gratification (so choosing short term pain for a longer term gain).