When making choices in software projects, engineers and other stakeholders engage in decision making that involves uncertain future outcomes. Research in psychology, behavioral economics and neuroscience has questioned many of the classical assumptions of how such decisions are made. This literature review aims to characterize the assumptions that underpin the study of these decisions in Software Engineering. We identify empirical research on this subject and analyze how the role of time has been characterized in the study of decision making in SE. The literature review aims to support the development of descriptive frameworks for empirical studies of intertemporal decision making in practice.