Intertemporal choices are decisions with consequences that play out over time. These choices range from the prosaic--how much food to eat at a meal--to life-changing decisions about education, marriage, fertility, health behaviors and savings. Intertemporal preferences also affect policy debates about long-run challenges, such as global warming. Historically, it was assumed that delayed rewards...

Intertemporal choices consist of trade-offs between reward magnitude and the delay until those rewards are received. Distaste for delay (i.e., impatience) is related to various undesirable variables including drug use, credit card debt, and low grade point average. These findings have underscored the critical need to better understand intertemporal preferences. Previous work has shown that forc...

Intertemporal choices are a ubiquitous class of decisions that involve selecting between outcomes available at different times in the future. We investigated the neural systems supporting intertemporal decisions in healthy younger and older adults. Using functional neuroimaging, we find that aging is associated with a shift in the brain areas that respond to delayed rewards. Although we replica...

Dispatchable energy storage system (ESS) plays a critical role in the smart grid through shift and power support. However, it exhibits different operational strategies economic benefits application scenarios due to its inherent degradation behaviour. This paper aims explore technical feasibility of flexible traction supply (FTPSS) integrating ESS renewable sources (RES) based on load characteri...

Two separate cognitive processes are involved in choosing between rewards available at different points in time. The first is temporal discounting, which consists of combining information about the size and delay of prospective rewards to represent subjective values. The second involves a comparison of available rewards to enable an eventual choice on the basis of these subjective values. While...

A large literature has used choice experiments involving time-dated monetary rewards, to test whether time discounting is exponential or hyperbolic, with mixed results. One explanation, proposed by the psychologist Daniel Read (2001), is that the observed choice patterns reflect a type of framing effect, known as sub-additivity, rather than hyperbolic or exponential discounting. An alternative ...

There is equivocal support for the hypothesis that preference for later larger (LL) over sooner smaller (SS) monetary alternatives (e.g., $50 in four months over $30 today) is associated with functioning of the insula and the prefrontal cortex (especially the lateral PFC). In the present study, we re-examined overall neural correlates of choice using a procedure to minimize potential confounds ...