Open Access. Powered by Scholars. Published by Universities.®
Delay discounting; Temporal discounting; Model comparison; Sensitivity; Adjusting amount; Money; Humans
Articles 1 - 1 of 1
Full-Text Articles in Psychology
A Comparison Of Four Models Of Delay Discounting In Humans, Todd L. Mckerchar, Leonard Green, Joel Myerson, T. Stephen Pickford, Jade C. Hill, Steven C. Stout
A Comparison Of Four Models Of Delay Discounting In Humans, Todd L. Mckerchar, Leonard Green, Joel Myerson, T. Stephen Pickford, Jade C. Hill, Steven C. Stout
Research, Publications & Creative Work
The present study compared four prominent models of delay discounting: a one-parameter exponential decay, a one-parameter hyperbola (Mazur, 1987), a two-parameter hyperboloid in which the denominator is raised to a power (Green and Myerson, 2004), and a two-parameter hyperbola in which delay is raised to a power (Rachlin, 2006). Sixty-four college undergraduates made choices between hypothetical monetary rewards, one immediate and one delayed, and the fit of the four models to their data was assessed. All four equations accounted for a large proportion of the variance at both the group and the individual levels, but the exponents of both two-parameter …