Time-Based Effects are the processes in which a form of time manipulation occurs to an audio signal. This can produce desired results that can be minimal in difference to the original sound to something much greater. These effects alter the perception of sound in the stereo field. These effects have been used since early recording started and are still used in the studio and on stage today.
The first effect I want to talk about is Delay. Delay is a delayed signal or soundwave that takes additional time to reach your ears. This is normally caused by reflective surfaces and the distance the sound has to travel. It can also be caused by machines and software to get a desired effect. Delay is a natural effect. An example of it would be if you sang in a hall or church, the echos you'd be hearing are a bunch of delays all happening at once. It can also be created artificially through software and outboard gear.
Reverb is the persistence of soundwaves and their behavior as they move through an environment. Reverberation is basically a number of differently spaced delays being heard. It is a naturally occuring event and has been taken use of since people started making music. Many clubs and venues were built to accoustic standards to get greatly inhanced performances. People created many different ways to create altificial reverb. They built and used echo chambers, plate and spring reverb, and even created algorithms to digitally recreate and simulate the accoustic properties of giant halls and churches to small rooms.
The other effects are flange, chorus, and phaser. They all have to do with playing back or echoing the audio signal at given intervals of time. Flange has a delay time of less than 30 miliseconds. With a high amount of feedback, It gives the audio signal a sound of being underwater. Chorus with a shorter sweep of delay time and instruments that sound somewhat similar give the signal a doubling effect. If a phaser has a delay sweep betwwen 0 to 1 miliseconds, you get an effect called phasing. Phasers filter the signal but created a series of troughs and peaks in the frequency spectrum. Those peaks and troughs are modulated creating a sweeping effect sound.