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Full-Text Articles in Biological Psychology
Are Capuchin Monkeys (Sapajus Spp.) Sensitive To Lost Opportunities? The Role Of Opportunity Costs In Intertemporal Choice, Elsa Addessi, Valeria Tierno, Valentina Focaroli, Federica Rossi, Serena Gastaldi, Francesca De Petrillo, Fabio Paglieri, Jeffrey R. Stevens
Are Capuchin Monkeys (Sapajus Spp.) Sensitive To Lost Opportunities? The Role Of Opportunity Costs In Intertemporal Choice, Elsa Addessi, Valeria Tierno, Valentina Focaroli, Federica Rossi, Serena Gastaldi, Francesca De Petrillo, Fabio Paglieri, Jeffrey R. Stevens
Jeffrey Stevens Publications
Principles of economics predict that the costs associated with obtaining rewards can influence choice. When individuals face choices between a smaller, immediate option and a larger, later option, they often experience opportunity costs associated with waiting for delayed rewards because they must forego the opportunity to make other choices. We evaluated how reducing opportunity costs affects delay tolerance in capuchin monkeys. After choosing the larger option, in the High cost condition, subjects had to wait for the delay to expire, whereas in the Low cost different and Low cost same conditions, they could perform a new choice during the delay. …
The Domain Specificity Of Intertemporal Choice In Pinyon Jays, Jeffrey R. Stevens, Bryce Kennedy, Dina Morales, Marianna Burks
The Domain Specificity Of Intertemporal Choice In Pinyon Jays, Jeffrey R. Stevens, Bryce Kennedy, Dina Morales, Marianna Burks
Jeffrey Stevens Publications
When choosing between a piece of cake now versus a slimmer waistline in the future, many of us have difficulty with self-control. Food-caching species, however, regularly hide food for later recovery, sometimes waiting months before retrieving their caches. It remains unclear whether these long-term choices generalize outside of the caching domain. We hypothesized that the ability to save for the future is a general tendency that cuts across different situations. To test this hypothesis, we measured and experimentally manipulated caching to evaluate its relationship with operant measures of self-control in pinyon jays (Gymnorhinus cyanocephalus). We found no correlation …
Intertemporal Similarity: Discounting As A Last Resort, Jeffrey R. Stevens
Intertemporal Similarity: Discounting As A Last Resort, Jeffrey R. Stevens
Jeffrey Stevens Publications
Standard models of intertemporal choice assume that individuals discount future payoffs by integrating reward amounts and time delays to generate a discounted value. Alternative models propose that, rather than integrate across them, individuals compare within attributes (amounts and delays) to determine if differences in one attribute outweigh differences in another attribute. For instance, Leland (2002) and Rubinstein (2003) propose models that 1) compare the two reward amounts to determine whether they are similar, 2) compare the similarity of the two time delays, and then 3) make a decision based on these similarity judgments. Here, I tested discounting models against attribute-based …