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On The Scaling Interpretation Of Exponents In Hyperboloid Models Of Delay And Probability Discounting, Todd L. Mckerchar, Leonard Green, Joel Myerson

Research, Publications & Creative Work

Previously, we (McKerchar et al., 2009) showed that two-parameter hyperboloid models (Green and Myerson, 2004; Rachlin, 2006) provide significantly better fits to delay discounting data than simple, one-parameter hyperbolic and exponential models. Here, we extend this effort by comparing fits of the two-parameter hyperboloid models to data from a larger sample of participants (N= 171) who discounted probabilistic as well as delayed rewards. In particular, we examined the effects of amount on the exponents in the two hyperboloid models of delay and probability discounting in order to evaluate key theoretical predictions of the standard psychophysical scaling interpretation of these exponents. …