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Temporal Discounting When the Choice Is Between Two Delayed Rewards.
- Source :
-
Journal of Experimental Psychology. Learning, Memory & Cognition . Sep2005, Vol. 31 Issue 5, p1121-1133. 13p. - Publication Year :
- 2005
-
Abstract
- The present experiments extend the temporal discounting paradigm from choice between an immediate and a delayed reward to choice between 2 delayed rewards: a smaller amount of money available sooner and a larger amount available later. Across different amounts and delays, the data were consistently well described by a hyperbola-like discounting function, and the degree of discounting decreased systematically as the delay to the sooner reward increased. Three theoretical models (the elimination-by-aspects, present-value comparison, and common-aspect attenuation hypotheses) were evaluated. The best account of the data was provided by the common-aspect attenuation hypothesis, according to which the common aspect of the choice alternatives (i.e., the time until the sooner reward is available) receives less weight in the decision-making process. [ABSTRACT FROM AUTHOR]
- Subjects :
- *REASONING
*DECISION making
*PROBLEM solving
*HYPOTHESIS
*LOGIC
*PSYCHOLOGY
Subjects
Details
- Language :
- English
- ISSN :
- 02787393
- Volume :
- 31
- Issue :
- 5
- Database :
- Academic Search Index
- Journal :
- Journal of Experimental Psychology. Learning, Memory & Cognition
- Publication Type :
- Academic Journal
- Accession number :
- 18834861
- Full Text :
- https://doi.org/10.1037/0278-7393.31.5.1121