Intertemporal decision-making involves simultaneous evaluation of both the magnitude and delay to reward, which may require the integrated representation and comparison of these dimensions within working memory (WM). In the current study, neural activation associated with intertemporal decision-making was directly compared with WM load-related activation. During functional magnetic resonance im...

Different species vary in their ability to wait for delayed rewards in intertemporal choice tasks. Models of rate maximization account for part of this variation, but other factors such as social structure and feeding ecology seem to underly some species differences. Though studies have evaluated intertemporal choice in several primate species, including Old World monkeys, New World monkeys, an...

From finding food to choosing mates, animals must make intertemporal choices that involve fitness benefits available at different times. Species vary dramatically in their willingness to wait for delayed rewards. Why does this variation across species exist? An adaptive approach to intertemporal choice suggests that time preferences should reflect the temporal problems faced in a species's envi...

In intertemporal decision making, individuals prefer smaller rewards delivered sooner over larger rewards delivered later, often to an extent that seems irrational from an economical perspective. This behavior has been attributed to a lack of self-control and reflection, the nonlinearity of human time perception, and several other sources. Although an increasing number of models propose differe...

In this article, we show how the degree of risk aversion, discounting, and preference for intertemporal substitution for a natural resource manager can be structurally estimated within a recursive utility framework. We focus on the management of a reservoir in California, and test the data for consistency with a recursive utility model specification versus standard time-additive separability. T...

Anticipatory time (e.g., prospective duration into the future) is one of the key pieces of information to be processed in intertemporal decisions decisions requiring a tradeoff between smaller sooner and larger delayed outcomes. Extensive research has examined human and animal perception of time as it is currently passing (i.e., experienced time) and time that has already passed (i.e., retrospe...