Discounting of food,sex, and money

Discounting is a useful framework for understanding choice involving a range of delayed and probabilistic outcomes (e.g., money, food, drugs), but relatively few studies have examined how people discount other commodities (e.g., entertainment, sex). Using a novel discounting task, where the length of a line represented the value of an outcome and was adjusted using a staircase procedure, we replicated previous findings showing that individuals discount delayed and probabilistic outcomes in a manner well described by a hyperbola-like function. In addition, we found strong positive correlations between discounting rates of delayed, but not probabilistic, outcomes. This suggests that discounting of delayed outcomes may be relatively predictable across outcome types but that discounting of probabilistic outcomes may depend more on specific contexts. The generality of delay discounting and potential context dependence of probability discounting may provide important information regarding factors contributing to choice behavior.     

Delay discounting of different outcomes: Review and theory

Steep delay discounting is characterized by a preference for small immediate outcomes relative to larger delayed outcomes and is predictive of drug abuse, risky sexual behaviors, and other maladaptive behaviors. Nancy M. Petry was a pioneer in delay discounting research who demonstrated that people discount delayed monetary gains less steeply than they discount substances with abuse liability. Subsequent research found steep discounting for not only drugs, but other nonmonetary outcomes such as food, sex, and health. In this systematic review, we evaluate the hypotheses proposed to explain differences in discounting as a function of the type of outcome and explore the trait- and state-like nature of delay discounting. We found overwhelming evidence for the state-like quality of delay discounting: Consistent with Petry and others' work, nonmonetary outcomes are discounted more steeply than monetary outcomes. We propose two hypotheses that together may account for this effect: Decreasing Future Preference and Decreasing Future Worth. We also found clear evidence that delay discounting has trait-like qualities: People who steeply discount monetary outcomes steeply discount nonmonetary outcomes as well. The implication is that changing delay discounting for one outcome could change discounting for other outcomes.     

Smokers discount their drug of abuse in the same way as other consumable rewards

Recent research shows that drug abusers discount delayed monetary rewards more than nonabusers do, and they discount delayed substances of abuse (e.g., drugs) more than delayed money. Furthermore, non-drug-abusers discount food and substances of abuse (e.g., alcohol), more than money. Here, we compare the delay and probability discounting of money with that of a directly consumable reward (chocolate) and with that of a substance of abuse (cigarettes), in a drug-using population (smokers). In line with previous research, we found in two experiments that delay discounting differentiated between smokers and nonsmokers, and between money and a nonabused directly consumable reward (chocolate). In addition, our results show that there appears to be no difference in the extent to which smokers discount their abused substance compared to another directly consumable reward. These findings support the contention that drugs and food are part of the same category of primary reinforcers, whereas money is discounted differently, as a conditioned reinforcer.     

Comparison of delay discounting of different outcomes in cigarette smokers,smokeless tobacco users,e-cigarette users,and non-tobacco users

Delay discounting is the process by which a commodity loses value as the delay to its receipt increases. Rapid discounting predicts various maladaptive behaviors including tobacco use. Typically, delay discounting of different outcomes has been compared between cigarette smokers and nonsmokers. To better understand the relationship of delay discounting to different modes of tobacco use, we examined the differences in delay discounting of different outcomes between cigarette smokers, smokeless tobacco users, e-cigarette users, and non-tobacco users. In the present study, all participants completed 8 titrating delay-discounting tasks: $100 gain, $500 gain, $500 loss, alcohol, entertainment, food, a temporary health gain, and a temporary cure from a disease. Non-tobacco users discounted most outcomes less than tobacco users overall; however, there were no differences in discounting among the different types of tobacco users. These results suggest that nicotine consumption of any kind is associated with a higher degree of impulsivity compared to non-tobacco users. Adoption of tobacco products that have been perceived as less harmful (e.g., e-cigarettes) is not associated with a baseline difference or decrease in delay discounting if adopted after a history of cigarette use.     

A job with a future? Delay discounting, magnitude effects, and domain independence of utility for career decisions

Decision-makers are often faced with inter-temporal choices in which they are required to choose between options that differ in both value of and delay to outcomes. In this study, assumptions of Discounted Utility Theory (DU) were tested within inter-temporal career choices. According to DU, the same discount rate should be applied regardless of the amount of delay and magnitude of the outcome. In addition, DU predicts that, for economic substitutes, the same discount rate should be applied to both commodities. Contrary to assumptions of DU, but consistent with a hyperbolic discounting model, graduating college students’ job choices reflected non-constant discount rates (i.e., Delay Effect) for future salary and preferred tasks. In addition, these students exhibited lower discount rates for salary and percentage of preferred tasks (i.e., Magnitude Effect). Finally, the two were not found to be economic substitutes as there was a low correlation between discount rate for salary and percentage of preferred tasks (i.e., Domain Independence). Implications for employee recruitment and human resource management are discussed.     

Heaven can wait. How religion modulates temporal discounting

Evidence suggests that religious systems have specific effects on attentional and action control processes. The present study investigated whether religions also modulate choices that involve higher-order knowledge and the delay of gratification in particular. We tested Dutch Calvinists, Italian Catholics, and Atheists from both countries/cultures using an intertemporal choice task where participants could choose between a small immediate and a larger delayed monetary reward. Based on the Calvinist theory of predestination and the Catholic concept of a cycle of sin–confession–expiation, we predicted a reduced delay tolerance, i.e., higher discount rate, for Italian Catholics than for Dutch Calvinists, and intermediate rates for the two atheist groups. Analyses of discount rates support our hypotheses. We also found a magnitude effect on temporal discounting and faster responses for large than for small rewards across religions and countries/cultures. We conclude that temporal discounting is specifically modulated by religious upbringing rather than by generic cultural differences.     

The Effects of Social Status and Culture on Delay Discounting

People generally tend to discount future outcomes in favor of smaller but immediate gains (i.e., delay discounting). This study examines the hypothesis that culture and social status moderate this tendency, as well as the alternative hypothesis that social status and culture influence delay discounting independently of each other. American and Japanese adults were asked to choose receiving hypothetical monetary rewards either immediately or receiving rewards of different amounts with a delay of 1 year. The results replicated previous findings and supported the alternative hypothesis. Delay discounting was lower when subjective socioeconomic status (i.e., an individual’s perception of her or his social rank) was higher. Also, the Japanese were less likely to discount future rewards than the Americans. However, there was no interaction between social status and culture in influencing the rates of delay discounting.     

Time preferences for the very long term

Many important decisions concern outcomes delayed by decades or centuries. Whereas some economists have argued that inter-generational discount rates should be lower than intra-generational rates, three experiments found that inter- and intra-generational discount rates were quite similar. Experiment 1 found that discount rates for long delays (30-900 years) were lower than those for shorter delays (1-30 years) but that, holding delay constant, discount rates for outcomes occurring to future generations were similar to those for outcomes occurring to the present generation. Experiment 2 compared inter-generational discount rates for three different types of outcomes and found similar discount rates for saving lives, improving health, and financial benefits. Experiment 3 found similar inter-generational discounting of life-saving programs that benefit people close to or distant from the decision maker. These studies indicate that the discount rate applied to outcomes occurring to future generations depends on the length of the time delay but not on other factors.     

Discounting of food and water in rats shows trait- and state-like characteristics

Delay discounting is the loss in value of an outcome as a function of its delay. The present study focused on examining a trait-like characteristic of delay discounting in a preclinical animal model. Specifically, we were interested in whether there was a positive relation between discounting of 2 different outcomes in rats. That is, would rats that discount delayed food steeply also discount delayed water steeply? In addition, we examined how session-to-session variability in discounting could be attributed to differences between subjects (trait variability) and to differences within subjects (state variability). Finally, we measured discounting from early- to mid-adulthood, allowing us to examine changes in discounting as a function of age. Overall, we found a moderate, positive correlation between discounting of food and discounting of water in rats, providing further evidence that the relative consistency with which individuals discount different outcomes is a trait-like characteristic. In addition, we found a high degree of within-subject variability in discounting, indicating strong state-like differences from session to session. Finally, overall, discounting decreased as a function of age; however, individual-subject data showed variability in how discounting changed across time. Overall, our results show that differences in delay discounting between individuals reflect variability in both trait- and state-like characteristics.     

Larger reward values alone are not enough to entice more cooperation

Two experiments using an iterated prisoner's dilemma game examined under which conditions participants' cooperation rates would either change due to monetary value changes (e.g., 3 cents to 3 dollars) or not change due to numeric value changes (e.g., 3 dollars to 300 cents). A total of 102 university students played the game against a computer that employed one of four strategies across blocks. Results showed high rates of cooperation when participants played against a tit-for-tat strategy and low rates of cooperation against a random strategy. There was no change in cooperation rates due to changes in numeric value alone and a decrease in cooperation rates when large monetary values were at stake. Cooperation rates were higher and cooperation responses slower at earlier stages of the game. I argue that people's ability to strategize plays a key role in the changing rates and speed of cooperative behaviour in the prisoner's dilemma.     

Within-subject comparison of real and hypothetical money rewards in delay discounting

A within-subject design, using human participants, compared delay discounting functions for real and hypothetical money rewards. Both real and hypothetical rewards were studied across a range that included $10 to $250. For 5 of the 6 participants, no systematic difference in discount rate was observed in response to real and hypothetical choices, suggesting that hypothetical rewards may often serve as a valid proxy for real rewards in delay discounting research. By measuring discounting at an unprecedented range of real rewards, this study has also systematically replicated the robust finding in human delay discounting research that discount rates decrease with increasing magnitude of reward. A hyperbolic decay model described the data better than an exponential model.     

Delay discounting in the pigeon: In search of a magnitude effect

The magnitude effect, where larger outcomes are discounted proportionally less than smaller outcomes, is a well‐established phenomenon in delay discounting by human participants. To this point in the literature magnitude effects have not been reliably evidenced in nonhuman animals. , however, used a concurrent‐chains arrangement with pigeon and found evidence for a magnitude effect. Grace et al. suggested that in many delay discounting experimental arrangements with nonhuman animals (e.g., adjusting amount, adjusting delay) the organism is not given the opportunity to directly compare outcomes of different sizes. They suggest that because of the lack of direct comparison it is difficult for the organism to determine the relative size of each outcome, which in turn mutes the effect of the amount differences between outcomes. As a test of this “comparison hypothesis,” the present experiment was conducted to assess whether the magnitude effect would be evidenced in pigeon when using an adjusting amount procedure where outcomes of different amounts were presented proximally. In the present arrangement, pigeons were presented two choice panels in an operant chamber where each panel was associated with an independent adjusting amount delay discounting task, but with differing outcome amounts (i.e., a 32‐food pellet panel and an 8‐food pellet panel). In this arrangement the choice panels alternated in their availability within a session from trial block to trial block. The present findings indicate no reliable effect of amount, even when the outcomes were proximal and thus readily comparable. This result suggests that the lack of magnitude effect is not driven by the organism's ability to compare the difference in amount between choice alternatives.     

Age‐related differences in delay discounting: Immediate reward,reward magnitude,and social influence

Delay discounting refers to the tendency of individuals to subjectively devalue rewards that are to be received in the future, with high rates of delay discounting being associated with a variety of maladaptive life outcomes (e.g., unhealthy dietary and exercise behaviors). The current study explored the psychological and social processes involved in adult age‐related differences in delay discounting of monetary rewards. Younger adults exhibited higher levels of delay discounting than older adults. This increased level of patience in older adults was found whether smaller‐sooner rewards were to be received immediately or in the future. However, there was an interaction with reward magnitude, whereby younger adults exhibited higher levels of delay discounting for smaller reward magnitudes but not larger reward magnitudes. Social influence on delay discounting was investigated by having participants complete three phases of the delay‐discounting task: an individual precollaboration phase, a collaboration phase in age‐group‐matched dyads, and an individual postcollaboration phase. A convergence effect was observed in that dyad members' postcollaboration choices were significantly more similar compared to their baseline choices during the precollaboration phase. Moreover, levels of convergence were comparable between younger and older adults, suggesting age invariance in social influence on delay discounting. The current results demonstrate a degree of malleability in delay discounting that extends into older adulthood, making interventions targeting the construct a promising avenue for future research.     

Framing Effects and Arenas of Choice: Your Money or Your Life?

This paper investigates the consistency of outcome framing effects on choice across two arenas of outcome: human life and money. Past research has yielded notable variability in the magnitude of framing effects. One possible contributor to the variation in magnitude is outcome arena. Past research has varied along this dimension without systematically assessing its effects. Undergraduates (N= 297) responded to three decision scenarios involving either human lives or money in which outcomes were framed either positively or negatively. Based on prospect theory, an interaction between framing and arena was predicted, such that a greater framing effect was expected in the human life arena (i.e., more risky choices were expected when outcomes involved human life than money in the negative frame and the reverse in the positive frame). Results were only partly consistent with this prediction. Regardless of frame, subjects made riskier choices when outcomes involved human lives rather than money. This was not expected for the positive frame. Even though human lives presumably have greater utility than dollars, subjects in the positive framing condition made riskier choices regarding human life than money. Additionally, no overall framing effect was observed. There was a significant sex by frame interaction such that only women exhibited framing effects on choice. This extends the finding of sex differences in framing to the monetary arena. This has important implications for the conduct of future studies on framing as well as for the interpretation of past and future framing research.     

Temporal discounting for monetary and close relationship outcomes

The present study extended research on intertemporal choice—in which individuals choose between outcomes that may be received immediately or after a delay—to close relationships. In Experiment 1, New Zealand university students aged 18 to 25 made decisions about hypothetical monetary and relationship outcomes, and in Experiment 2, about relationship outcomes which emphasized companionate or sexual aspects (Ns = 64). Both experiments found effects of delay and magnitude on temporal discounting rates, and domain independence for choices about close relationships, similar to previous studies with monetary outcomes. There were no significant gender differences. Overall, results suggest that people make intertemporal choices about relationships according to a similar process used to make decisions involving other types of outcomes.     

Good or Bad,We Want it Now: Fixed‐cost Present Bias for Gains and Losses Explains Magnitude Asymmetries in Intertemporal Choice

Intertemporal tradeoffs are ubiquitous in decision making, yet preferences for current versus future losses are rarely explored in empirical research. Whereas rational‐economic theory posits that neither outcome sign (gains vs. losses) nor outcome magnitude (small vs. large) should affect delay discount rates, both do, and moreover, they interact: in three studies, we show that whereas large gains are discounted less than small gains, large losses are discounted more than small losses. This interaction can be understood through a reconceptualization of fixed‐cost present bias, which has traditionally described a psychological preference for immediate rewards. First, our results establish present bias for losses—a psychological preference to have losses over with now. Present bias thus predicts increased discounting of future gains but decreased (or even negative) discounting of future losses. Second, because present bias preferences do not scale with the magnitude of possible gains or losses, they play a larger role, relative to other motivations for discounting, for small magnitude intertemporal decisions than for large magnitude intertemporal decisions. Present bias thus predicts less discounting of large gains than small gains but more discounting of large losses than small losses. The present research is the first to demonstrate that the effect of outcome magnitude on discount rates may be opposite for gains and losses and also the first to offer a theory (an extension of present bias) and process data to explain this interaction. The results suggest that policy efforts to encourage future‐oriented choices should frame outcomes as large gains or small losses. Copyright © 2012 John Wiley & Sons, Ltd.     

Time is on my side: optimism in intertemporal choice

The present research examines the role of optimism on time preferences for both losses and gains. It is argued that optimism has asymmetric effects on time preferences for gains versus losses: one reason why decision makers prefer immediate gains is because they are optimistic that these gains will be followed by additional gains in future. In contrast, decision makers prefer to delay losses because they are optimistic that losses are avoidable in the future. Optimism about outcomes affects time preferences for both gains and losses, such that low optimism reduces the discount rates while increased optimism is associated with higher discount rates. This prediction was supported in two different domains: monetary outcomes (Study 1), and health (Study 2). Implications of these results for both research practice and time preferences in the real world are discussed.     

Delay discounting in e-cigarette users,current and former smokers

Background/Objective: Despite the fact that electronic cigarettes, or e-cigarettes, are being increasingly used as an alternative to smoking tobacco cigarettes, few studies have explored psychological factors associated with e-cigarette use. Prior studies aimed at exploring correlates of e-cigarette use have focused on sociodemographic and smoking-related characteristics. However, no previous work has examined psychological features such as impulsivity among e-cigarettes users. The main objective of this study was to compare impulsivity rates across four groups of participants: current e-cigarette users who were former smokers; current smokers; former smokers; and controls. Method: A sample of 136 participants completed a computerized delay discounting task for hypothetical monetary values. Results: Delay discounting was greater among e-cigarette users than former smokers. E-cigarette users also showed an intermediate discounting that did not differ from smokers and controls. Moreover, delay discounting was significantly greater among current smokers compared to former smokers and controls. Conclusions: Taken together, our results extend previous research on delay discounting by providing evidence on impulsivity levels among current e-cigarette users for the first time.     

Internet-Based Acceptance and Commitment Therapy: A Transdiagnostic Systematic Review and Meta-Analysis for Mental Health Outcomes

Internet-based acceptance and commitment therapy (iACT) primarily targets the process of psychological flexibility. Its accessibility and low-intensity delivery are applicable across different treatment and prevention scenarios. This transdiagnostic meta-analysis reviews the effectiveness of iACT on anxiety, depression, quality of life, and psychological flexibility across individuals with different psychological and somatic conditions/complaints, or undiagnosed complaints. Seven databases were searched for randomized controlled trials that reported on anxiety, depression, quality of life, and psychological flexibility outcomes from iACT in any adult population. Engagement with iACT was summarized and methodological and population-related variables were investigated as potential moderators of effectiveness. Across 25 studies, small pooled effects were found for all outcomes at post-assessment and maintained at follow-up time-points. Interventions with therapist guidance demonstrated greater effectiveness in improving depression and psychological flexibility outcomes compared to nonguided iACT, and populations defined by a psychological condition or symptoms (e.g., depressed samples) demonstrated greater improvements in anxiety compared to nonclinical or somatic populations (e.g., chronic pain samples or students). Participants completed on average 75.77% of iACT treatments. While we found iACT to be effective in improving and maintaining mental health outcomes across diverse populations, there was limited evidence of reliable, clinically significant effects. PROSPERO registration number: CRD42020140086.     

Seeking medical care for a breast cancer symptom: determinants of intentions to engage in prompt or delay behavior

This study examined the cognitive structures underlying women's intentions to delay or not delay seeking medical care for a breast cancer symptom. Middle-aged women imagined that they had just discovered a particular change in their breast, and they completed a questionnaire that assessed variables specified by Ajzen and Fishbein's theory of reasoned action with respect to two alternative courses of action: immediately calling the doctor (i.e., prompt behavior) and monitoring the breast change on one's own (i.e., delay behavior). Also assessed were variables external to the theory that were drawn from previous research on cancer delay. Results showed that intentions to delay were positively associated with having favorable attitudes toward delay and with perceived social pressure to delay; the attitudinal factor, however, was more influential than the social factor in determining intentions. Underlying favorable attitudes toward delay were beliefs that delay would be likely to result in maintaining control over and avoiding the disruption of one's own and others' lives but would be unlikely to result in negative health outcomes. No external variable was found to contribute to intentions to delay above and beyond attitudinal and normative considerations.