Inflation expectations play a central role in monetary policy effectiveness, yet relatively little is known about how individual behavioral traits shape expectation formation. This study examines whether time discounting and hyperbolic discounting, key dimensions of intertemporal preferences, are systematically associated with household inflation expectations. Using large-scale survey data from Japan that elicit both time preference measures and qualitative inflation expectations, we analyze expectations over one-, three-, and five-year horizons. The empirical analysis employs ordered probit models that fit well with the categorical nature of survey-based inflation expectations and controls for a rich set of demographic, socioeconomic, and behavioral characteristics, including financial literacy and risk preferences. The results reveal clear horizon-dependent patterns. Hyperbolic discounting is positively associated with short-term inflation expectations, suggesting that present-biased individuals place greater weight on recent inflation developments. In contrast, higher time discount rates are associated with higher inflation expectations at medium and longer horizons, indicating that impatience is more relevant for beliefs about distant future prices. These findings provide novel evidence on the behavioral micro-foundations of inflation expectation formation and highlight the importance of heterogeneity in time preferences. From a policy perspective, the results suggest that one-size-fits-all communication strategies may be insufficient and that effective expectation management may require tailoring messages to account for differences in individuals’ time orientation across forecast horizons.

Obesity is a major global health concern related to chronic diseases and rising healthcare costs. While previous studies focused on diet habits, environmental issues, and physical activity, financial literacy remains an overlooked factor in weight management. This study examined the relationship between financial literacy and the body mass index (BMI), using financial literacy as a proxy for rational health decision-making. A quantitative approach was employed, where linear regression analyzed the BMI as a continuous variable and a probit regression assessed overweight, normal weight, and underweight categories. A nationwide survey, the Preference Parameter Study, conducted by Osaka University, Japan, in the United States, provided the data for this study. The results indicate a significant negative association between financial literacy and the BMI, with higher financial literacy linked to a lower BMI and a greater likelihood of maintaining a normal weight. The key control variables, including impatience, gender, education, income, and smoking, also significantly affected the BMI. These findings reflect a strong correlation between financial literacy and the weight status; however, due to data limitations, causal inferences could not be made. We acknowledge the potential endogeneity and the cross-sectional nature of the data as limitations. Thus, while our results suggest a potential role for financial literacy in promoting rational health behavior, the policy implications should be interpreted with caution. Future research should explore targeted interventions across various demographic groups to maximize the impact.