Temporal discounting when the choice is between two delayed rewards

The present experiments extend the temporal discounting paradigm from choice between an immediate and a delayed reward to choice between 2 delayed rewards: a smaller amount of money available sooner and a larger amount available later. Across different amounts and delays, the data were consistently well described by a hyperbola-like discounting function, and the degree of discounting decreased systematically as the delay to the sooner reward increased. Three theoretical models (the elimination-by-aspects, present-value comparison, and common-aspect attenuation hypotheses) were evaluated. The best account of the data was provided by the common-aspect attenuation hypothesis, according to which the common aspect of the choice alternatives (i.e., the time until the sooner reward is available) receives less weight in the decision-making process.     

Preference reversals with losses

People who prefer larger, later gains over smaller, sooner gains when considering outcomes far in the future often reverse their preference as the alternatives become closer in time. This finding, which is contrary to a normative economic account of intertemporal choice, has been interpreted as support for hyperboloid discounting, but the results can also be explained by steeper discounting of smaller amounts. The present study is the first to demonstrate that analogous preference reversals occur with losses: People who preferred a smaller, sooner loss over a larger, later loss when the outcomes were far in the future reversed their preference when these alternatives were closer in time. Because there was no magnitude effect (i.e., smaller losses were not discounted more steeply than larger losses), the present findings strongly support the proposition that reversals in preference between delayed outcomes occur because of the hyperboloid shape of the discounting function.     

Individual Differences in Delay Discounting: Differences are Quantitative with Gains,but Qualitative with Losses

Research on delay discounting and inter‐temporal choice has yielded significant insights into decision making. Although research has focused on delayed gains, the discounting of losses is potentially important in precisely those areas where the discounting of gains has proved informative (e.g., substance use and abuse). Participants in the current study completed both a questionnaire consisting of choices between immediate and delayed gains and an analogous questionnaire consisting of choices between immediate and delayed losses. For almost all participants, the likelihood of choosing the delayed gain decreased with increases in the wait until it would be received. In contrast, when losses (i.e., payments) were involved, different participants showed quite different patterns of choices. More specifically, although the majority of the participants became increasingly likely to choose to pay later as the delay was increased, some participants appeared to be debt averse, in that they were more likely to choose the immediate payment option when the delay was long than when it was brief. These debt‐averse participants also were more likely to choose to wait for a larger delayed gain than other participants and scored lower on Impulsiveness than those who showed the typical pattern of discounting delayed losses. Taken together, these results suggest that in the case of delayed gains, people differ only quantitatively (i.e., in how steeply they discount), whereas in the case of delayed losses, people differ qualitatively as well as quantitatively, contrary to the common assumption that a single impulsivity trait underlies choices between immediate and delayed outcomes. Copyright © 2016 John Wiley & Sons, Ltd.     

Temporal Discounting Mechanisms of Future‐oriented Coping: Evidence from Delay Discounting and Task Prioritization Paradigms

Four studies were conducted to examine the relationship between future‐oriented coping and temporal discounting under different situational conditions. In Study 1, 138 participants were primed with either stressful or neutral stimuli, followed by a delay‐discounting task. In Study 2, 118 participants were primed with either stressful or neutral stimuli, followed by a task‐prioritization activity. The results of both studies indicated that future‐oriented coping had a significant negative association with temporal discounting or the number of rational choices in the neutral‐priming condition, but the relationship was not significant in the stress‐priming condition. In Study 3, qualitative data revealed that the major reason for shifting choices from larger but later payoffs to smaller but sooner rewards in a stressful condition was to reduce the stressful mood, create a positive mood, and promote a sense of accomplishment. This explanation was corroborated by Study 4, in which one group was allowed to choose an immediate payoff and the other group was blocked from choosing that immediate payoff. We confirmed that post‐test anxiety was significantly lower in the immediate payoff group compared with the delayed‐payoff group in proactive and preventive coping, using pre‐test anxiety as a covariate. Preventive coping helped to reduce anxiety levels in a stressful condition only when there was a choice to obtain an immediate payoff. These findings underscore the relationship between future‐oriented coping and temporal discounting, as well as the flexibility of discounting in the face of stress. Copyright © 2015 John Wiley & Sons, Ltd.     

Delay discounting of monetary gains and losses in adolescents with ADHD: Contribution of delay aversion to choice

Adolescents with attention-deficit/hyperactivity disorder (ADHD) are known to have stronger preferences for smaller immediate rewards over larger delayed rewards in delay discounting tasks than their peers, which has been argued to reflect delay aversion. Here, participants performed a delay discounting task with gains and losses. In this latter condition, participants were asked whether they were willing to wait in order to lose less money. Following the core assumption of the delay aversion model that individuals with ADHD have a general aversion to delay, one would predict adolescents with ADHD to avoid waiting in both conditions. Adolescents (12–17 years) with ADHD (n = 29) and controls (n = 28) made choices between smaller immediate and larger delayed gains, and between larger immediate and smaller delayed losses. All delays (5–25 s) and gains/losses (2–10 cents) were experienced. In addition to an area under the curve approach, a mixed-model analysis was conducted to disentangle the contributions of delay duration and immediate gain/delayed loss amount to choice. The ADHD group chose the immediate option more often than controls in the gain condition, but not in the loss condition. The contribution of delay duration to immediate choices was stronger for the ADHD group than the control group in the gain condition only. In addition, the ADHD group scored higher on self-reported delay aversion, and delay aversion was associated with delay sensitivity in the gain condition, but not in the loss condition. In sum, we found no clear evidence for a general aversion to delay in adolescents with ADHD.     

Asymmetry of the group context effect on delay discounting

Binary choice delay discounting tasks require participants to indicate preference between smaller, immediate, and larger, delayed rewards. Previous research indicates that when the delayed reward is shared with others, the delayed outcome is preferred compared with when the outcomes are for the self only, resulting in lower rates of delay discounting. The present series of studies sought to replicate and extend this finding. Study 1 compared delay discounting on a standard task in which both immediate and delayed outcomes are for the self and a group context task where the delayed outcome was shared with one other person. Replicating previous results, group context resulted in lower rates of delay discounting, and this effect was independent of how the shared outcome was presented. Study 2 compared delay discounting on a standard task and a group context task where the immediate outcome was shared. In contrast to Study 1, group context resulted in higher rates of delay discounting, suggesting that preference in intertemporal choice tracks the shared outcome. Moreover, this effect was not independent of how the shared outcome was presented. This is the first study to reveal that group context, when applied to the immediate outcome, can result in higher rates of delay discounting.     

得失情境下的图形框架对跨期选择倾向的影响

为分离言语表述的干扰,实验采用简单选择任务,通过2(图形框架)×2(跨期选择)×2(得失情境)被试内实验设计探讨得失情境下图形框架对个体跨期选择的影响。结果发现:(1)在突出时间条件下,被试更倾向于选择小而即时的选项,而在突出金额条件下,被试选择小而即时和大而延时的概率没有差异;(2)收益情境中,个体更多地选择大而延时的选项,而在损失情境中,个体选择即时损失的概率更高。结果表明,跨期选择中个体的决策偏好会随着得失情境及决策选项描述方式的变化而变化。     

得失不对称：跨期选择中自我-他人决策差异

采用跨期选择任务范式,考察得失情境下自我–他人决策差异。结果发现：（1）为自己决策比为他人决策更偏好于选择即刻选项;（2）损失情境比获益情境下更偏好于选择即刻选项;（3）获益情境下为自己决策与为他人决策在选择即刻选项上不存在显著差异,而损失情境下为自己决策比为他人决策更偏好于选择即刻选项,表明得失情境下自我–他人决策差异存在不对称性。     

Testing the effect of risk on intertemporal choice in the Chinese cultural context

Previous studies using Western samples have found that introducing uncertainty to an intertemporal choice decreases the degree of discounting future rewards. The authors of this article examined the effect of risk on intertemporal choice using Chinese participants and found that respondents preferred the smaller but sooner (SS) outcome to the larger but later (LL) one in the presence of risk, which indicates that risk increases rather than decreases the degree of discounting future rewards. Thus, variations in response patterns between different cultural groups suggest that culture may play an important role in intertemporal choice and researchers should delve into this topic from an emic rather than an etic perspective.     

Impulsive choice and pre‐exposure to delays: iv. effects of delay‐ and immediacy‐exposure training relative to maturational changes in impulsivity

Impulsive choice describes preference for smaller, sooner rewards over larger, later rewards. Excessive delay discounting (i.e., rapid devaluation of delayed rewards) underlies some impulsive choices, and is observed in many maladaptive behaviors (e.g., substance abuse, gambling). Interventions designed to reduce delay discounting may provide therapeutic gains. One such intervention provides rats with extended training with delayed reinforcers. When compared to a group given extended training with immediate reinforcers, delay‐exposed rats make significantly fewer impulsive choices. To what extent is this difference due to delay‐exposure training shifting preference toward self‐control or immediacy‐exposure training (the putative control group) shifting preference toward impulsivity? The current study compared the effects of delay‐ and immediacy‐exposure training to a no‐training control group and evaluated within‐subject changes in impulsive choice across 51 male Wistar rats. Delay‐exposed rats made significantly fewer impulsive choices than immediacy‐exposed and control rats. Between‐group differences in impulsive choice were not observed in the latter two groups. While delay‐exposed rats showed large, significant pre‐ to posttraining reductions in impulsive choice, immediacy‐exposed and control rats showed small reductions in impulsive choice. These results suggest that extended training with delayed reinforcers reduces impulsive choice, and that extended training with immediate reinforcers does not increase impulsive choice.     

Weighing Outcomes by Time or Against Time? Evaluation Rules in Intertemporal Choice

Models of intertemporal choice draw on three evaluation rules, which we compare in the restricted domain of choices between smaller sooner and larger later monetary outcomes. The hyperbolic discounting model proposes an alternative‐based rule, in which options are evaluated separately. The interval discounting model proposes a hybrid rule, in which the outcomes are evaluated separately, but the delays to those outcomes are evaluated in comparison with one another. The tradeoff model proposes an attribute‐based rule, in which both outcomes and delays are evaluated in comparison with one another: People consider both the intervals between the outcomes and the compensations received or paid over those intervals. We compare highly general parametric functional forms of these models by means of a Bayesian analysis, a method of analysis not previously used in intertemporal choice. We find that the hyperbolic discounting model is outperformed by the interval discounting model, which, in turn, is outperformed by the tradeoff model. Our cognitive modeling is among the first to offer quantitative evidence against the conventional view that people make intertemporal choices by discounting the value of future outcomes, and in favor of the view that they directly compare options along the time and outcome attributes.     

负折扣现象:跨期决策中的自我-他人决策差异

负折扣现象作为一种违背时间折扣假定的现象越来越多地引起研究者关注。本文通过两种指标考察了为自己决策和为他人决策在负折扣现象上的差异。实验1运用二择一选择范式考察人们在为自己决策和为他人决策时对于何时发生负性事件的时间偏好。结果发现,相比较于为他人决策,为自己决策时被试更倾向于选择早些发生负性事件,即更容易产生负折扣现象。实验2运用测量时间折扣率的经典范式考察了人们在为自己决策和为他人决策时的时间折扣率。结果发现,为自己决策时比为他人决策时的时间折扣率更小,更容易出现负折扣率。总体结果表明,为自己决策比为他人决策更容易出现负折扣现象。从情绪卷入的角度看,我们推测,为自己决策时由于更多的预期负性情绪卷入,从而导致更容易产生负折扣现象。     

THE EFFECTS OF CHOICE ON SELF‐CONTROL

Three adolescents with traumatic brain injury performed a physical therapy task in the absence of programmed consequences or duration requirements. Next, the experimenter gave the participants the options of a smaller immediate reinforcer with no response requirement or a larger delayed reinforcer with a response requirement. Self‐control training exposed participants to a procedure during which they chose between a smaller immediate reinforcer and a progressively increasing delayed reinforcer whose values varied and were determined by a die roll. The participants chose whether they or the experimenter rolled the die. All participants initially demonstrated low baseline durations of the physical therapy task, chose the smaller immediate reinforcer during the choice baseline, and changed their preference to the larger delayed reinforcer during self‐control training.     

Choice patterns reveal qualitative individual differences among discounting of delayed gains,delayed losses,and probabilistic losses

A new probabilistic losses questionnaire as well as Kirby's delayed gains questionnaire and a previously developed delayed losses questionnaire were administered to a large online sample. Almost all participants showed the positive discounting choice pattern expected on the Kirby questionnaire, decreasing their choice of a delayed gain as time to its receipt increased. In contrast, approximately 15% of the participants showed negative discounting on the delayed losses questionnaire and/or the probabilistic losses questionnaire, decreasing their choice of an immediate loss as time to a delayed loss decreased and/or decreasing their choice of a certain loss as likelihood of the probabilistic loss increased. Mixture model analysis confirmed the existence of these negative discounting subgroups. The inconsistent findings observed in previous research involving delayed/probabilistic losses may be due to differences in the proportion of negative discounters who participated in previous studies. Further research is needed to determine how negative discounting of delayed and probabilistic losses manifests itself in everyday decisions. It should be noted that the presence of individuals who show atypical choice patterns when losses are involved may pose challenges for efforts to modify discounting in order to ameliorate behavioral problems, especially because many such problems concern choices that have negative consequences, often delayed and/or probabilistic.     

ALTERING THE MAGNITUDE OF DELAY DISCOUNTING BY PATHOLOGICAL GAMBLERS

The present study explored the delay discounting of future and past monetary rewards by pathological gamblers. Using a multiple baseline design, following repeated exposure to choices between smaller immediate and larger delayed consequences, participants completed a relational responding task that attempted to alter the psychological functions of irrelevant stimuli and to affect subsequent delay discounting. Results support previous literature on the discounting of delayed consequences by pathological gamblers, illustrate that the discounting of past rewards occurs in a similar fashion to the well‐documented literature on the discounting of future rewards, and that magnitude of discounting can be altered.     

概率贴现和时间贴现在人脑中的分离

本研究运用ERP技术来检验概率贴现和时间贴现是否反映了相同的神经机制过程。在本研究中,我们在一个刺激中同时操纵概率贴现（风险vs.安全）和时间贴现（1个月后vs.今天）水平。通过对两个过程上的ERN以及全时间段的ERP分析来确定它们是否反映了相同的认知过程。结果发现,这两者在ERN上存在差异,同时这两个效应在ERP的时程和出现的电极点上都存在差异。这些差异表明这两者可能包含着不同的神经机制过程。     

Failure to find a distance effect in pigeon choice: Manipulating amount and delay of reinforcement

The choice behavior of primates, including humans, displays a distance effect: Latency to choose between alternatives appears to increase with smaller differences in value. There is, so far, no demonstration of this effect in birds. Tests of distance effects in birds have been conducted in binary choice situations with a dominant alternative, where one alternative is superior to the other in all aspects that meaningfully contribute to value (e.g., provides access to the same reinforcer, but with a shorter delay). The present study considers the possibility that including dominant alternatives in choice tests precludes distance effects. Four pigeons were presented with binary choices between alternatives that varied in amount and delay. Some choices had a dominant alternative (smaller–sooner or larger–later vs. smaller–later) and some did not (smaller–sooner vs. larger–later). Across phases, only the delay to the smaller–sooner reinforcer varied. Distance effects were expected to be expressed as longer latencies as choice between smaller–sooner and larger–later reinforcers approached indifference. Despite the sensitivity of choice to differences in amount and delay, no distance effect was observed. Alternative explanations for the failure to find a distance effect in pigeon choice, including the Sequential Choice Model (SCM), are discussed.     

Discounting: A practical guide to multilevel analysis of choice data

Multilevel modeling provides the ability to simultaneously evaluate the discounting of individuals and groups by examining choices between smaller sooner and larger later rewards. A multilevel logistic regression approach is advocated in which sensitivity to relative reward magnitude and relative delay are considered as separate contributors to choice. Examples of how to fit choice data using multilevel logistic models are provided to help researchers in the adoption of these methods.     

Waiting by mistake: Symbolic representation of rewards modulates intertemporal choice in capuchin monkeys,preschool children and adult humans

In the Delay choice task subjects choose between a smaller immediate option and a larger delayed option. This paradigm, also known as intertemporal choice task, is frequently used to assess delay tolerance, interpreting a preference for the larger delayed option as willingness to wait. However, in the Delay choice task subjects face a dilemma between two preferred responses: “go for more” (i.e., selecting the larger, but delayed, option) vs. “go for sooner” (i.e., selecting the immediate, but smaller, option). When the options consist of visible food amounts, at least some of the choices of the larger delayed option might be due to a failure to inhibit a prepotent response towards the larger option rather than to a sustained delay tolerance. To disentangle this issue, we tested 10 capuchin monkeys, 101 preschool children, and 88 adult humans in a Delay choice task with food, low-symbolic tokens (objects that can be exchanged with food and have a one-to-one correspondence with food items), and high-symbolic tokens (objects that can be exchanged with food and have a one-to-many correspondence with food items). This allows evaluating how different methods of representing rewards modulate the relative contribution of the “go for more” and “go for sooner” responses. Consistently with the idea that choices for the delayed option are sometimes due to a failure at inhibiting the prepotent response for the larger quantity, we expected high-symbolic tokens to decrease the salience of the larger option, thus reducing “go for more” responses. In fact, previous findings have shown that inhibiting prepotent responses for quantity is easier when the problem is framed in a symbolic context. Overall, opting for the larger delayed option in the visible-food version of the Delay choice task seems to partially result from an impulsive preference for quantity, rather than from a sustained delay tolerance. In capuchins and children high-symbolic stimuli decreased the individual’s preference for the larger reward by distancing from its appetitive features. Conversely, the sophisticated symbolic skills of adult humans prevented the distancing effect of high-symbolic stimuli in this population, although this result may be due to methodological differences between adult humans and the other two populations under study. Our data extend the knowledge concerning the influence of symbols on both human and non-human primate behavior and add a new element to the interpretation of the Delay choice task. Since high-symbolic stimuli decrease the individual’s preference for the larger reward by eliminating those choices due to prepotent responses towards the larger quantity, they allow to better discriminate responses based on genuine delay aversion. Thus, these findings invite greater caution in interpreting the results obtained with the visible-food version of the Delay choice task, which may overestimate delay tolerance.     

Temporal discounting predicts student responsiveness to exchange delays in a classroom token system

Typical assessments of temporal discounting involve presenting choices between hypothetical monetary outcomes. Participants choose between smaller immediate rewards and larger delayed rewards to determine how the passage of time affects the subjective value of reinforcement. Few studies, however, have compared such discounting to actual manipulations of reward delay. The present study examined the predictive validity of a temporal discounting procedure developed for use with children. Forty-six sixth-grade students completed a brief discounting assessment and were then exposed to a classwide intervention that involved both immediate and delayed reinforcement in a multiple baseline design across classrooms. The parameters derived from two hyperbolic models of discounting correlated significantly with actual on-task behavior under conditions of immediate and delayed exchange. Implications of temporal discounting assessments for behavioral assessment and treatment are discussed.