New designs for research in delay discounting
Full text is not in this repository.
Official URL: http://journal.sjdm.org/11/m37/m37.pdf
The two most influential models in delay discounting research have been the exponential (E) and hyperbolic (H) models. We develop a new methodology to design binary choice questions such that exponential and hyperbolic discount rates can be purposefully manipulated to make their rate parameters orthogonal (Pearson’s R = 0), negatively correlated (R = –1), positively correlated (R = +1), or to hold one rate constant while allowing the other to vary. Then we extend the method to similarly contrast different versions of the hyperboloid model. The arithmetic discounting model (A), which is based on differences between present and future rewards rather than their ratios, may easily be made orthogonal to any other pair of models. Our procedure makes it possible to design choice stimuli that precisely vary the relationship between different discount rates. However, the additional control over the correlation between different discount rate parameters may require the researcher to either restrict the range that those rate parameters can take, or to expand the range of times the participant must wait for future rewards.
|Research Areas:||Business School > Accounting and Finance|
|Citations on ISI Web of Science:||1|
|Deposited On:||16 Apr 2012 12:10|
|Last Modified:||06 Feb 2013 11:05|
Repository staff and depositor only: item control page
Full text downloads (NB count will be zero if no full text documents are attached to the record)
Downloads per month over the past year