Journal of Applied Behavior Analysis · 2003 · 442 citations · 17 references
Social SciencesBehavioral SciencesPsychologyBehavioral EconomicsExperimental EconomicsExperimental PsychologyBehavioral Decision-makingChoice BehaviorDiscrete Choice ModelsProspect TheoryRisk AversionTime PreferencesDelayed Reward ValuationDiscounted Utility ModelImmediate Reward PreferenceIndifference CurvesIndifference RelationPathological Gambling
Discounting of delayed rewards by pathological gamblers was compared to discounting of delayed rewards by matched control nongambling participants. All participants completed a hypothetical choice task in which they made repeated choices between dollars 1,000 available after a delay and an equal or lesser amount of money available immediately. The delay to the large amount of money was varied from 1 week to 10 years across conditions. Indifference points between immediate money and delayed money were identified at each delay condition by varying the amount of immediate money across choice trials. For the majority of participants, indifference points decreased monotonically across delays. Overall, gamblers discounted the delayed rewards more steeply than did control participants.
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An adjusting procedure for studying delayed reinforcement.
Michael Lamport Commons, Joanna Mazur, John A. Nevin et al. · 1987 · 1.9K citations