Delay discounting of monetary rewards over a wide range of amounts

作者: Leonard Green , Joel Myerson , Luís Oliveira , Seo Eun Chang

DOI: 10.1002/JEAB.45

关键词: Double exponential functionFunction (mathematics)HyperboloidConstant (mathematics)Social psychologyDiscountingMathematicsNeuroeconomicsEconometricsRange (statistics)Hyperboloid model

摘要: The present study examined delay discounting of hypothetical monetary rewards over a wide range amounts (from $20 to $10 million) in order determine how reward amount affects the parameters hyperboloid function and compare fits model with two models used neuroeconomics: quasi-hyperbolic double-exponential. Of three assessed, provided best fit data. results may be compared those previous on probability (Myerson, Green, & Morris, 2011) that same extended amounts. accurately described both types discounting, but had opposite effects degree discounting. Importantly, delayed affected rate parameter not its exponent, whereas was true for probabilistic reward. finding exponent remains relatively constant across provides strong support psychophysical scaling interpretation, stands stark contrast increases Taken together, these findings argue involve fundamentally different decision-making mechanisms.

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