Time discounting for primary and monetary rewards
نویسندگان
چکیده
منابع مشابه
Time discounting for primary and monetary rewards
There is considerable evidence indicating individuals are highly impatient. In particular, they exhibit higher discount rates in the short run than in the long run (Frederick et al., 2002). This result has significant implications for how we model intertemporal decisionmaking (Strotz, 1955–56). In most of the experiments, short-term discount rates are measured using monetary rewards delivered a...
متن کاملTime discounting for primary rewards.
Previous research, involving monetary rewards, found that limbic reward-related areas show greater activity when an intertemporal choice includes an immediate reward than when the options include only delayed rewards. In contrast, the lateral prefrontal and parietal cortex (areas commonly associated with deliberative cognitive processes, including future planning) respond to intertemporal choic...
متن کاملDiscounting of monetary and directly consumable rewards.
We compared temporal and probability discounting of a nonconsumable reward (money) and three directly consumable rewards (candy, soda, and beer). When rewards were delayed, monetary rewards were discounted less steeply than directly consumable rewards, all three of which were discounted at equivalent rates. When rewards were probabilistic, however, there was no difference between the discountin...
متن کاملEnhanced Neural Responses to Imagined Primary Rewards Predict Reduced Monetary Temporal Discounting.
The pervasive tendency to discount the value of future rewards varies considerably across individuals and has important implications for health and well-being. Here, we used fMRI with human participants to examine whether an individual's neural representation of an imagined primary reward predicts the degree to which the value of delayed monetary payments is discounted. Because future rewards c...
متن کاملSome Comments on the Use of Monetary and Primary Rewards in the Measurement of Time Preferences
The experiments reported in Halevy (2014) utilize cash payments to elicit subjects' temporal preferences. Some researchers (Cubitt and Read, 2007) argue that only primary rewards should be used to elicit such choices, since models of intertemporal preferences study the substitution between utility ows and not monetary payments. As such, the argument continues, all economists would agree that a ...
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ژورنال
عنوان ژورنال: Economics Letters
سال: 2010
ISSN: 0165-1765
DOI: 10.1016/j.econlet.2009.10.020