Time-related Discounting of Value and Decision-Making about Job Options

Many career-related decisions involve outcomes that are delayed, but the reduction of the value of outcomes with time is seldom studied. After reviewing literature on time-based value discounting and highlighting its relevance to career choice, three studies using the Raineri and Rachlin (1993) methodology are reported. Study 1 (N= 35) established that value discounting in relation to job choice follows the hyperbolic discount function, with discounting at short delays correlating with anxiety. Study 2 (N= 68) examined age differences in discounting and revealed that older respondents discounted less than younger respondents at shorter delays, but more at very long delays. Study 3 (N= 33) provided evidence that discounting is less with filled than unfilled intervals. Implications for career decision-making and career counseling are discussed and future research possibilities outlined.