Psychological Science · 2006 · 452 citations · 7 references
Social SciencesPsychologySocial PsychologyBehavioral EconomicsMicroeconomicsSocial CognitionProsocial Decision-makingRisk AversionSocial Decision-makingSocial DistanceSocial PreferencesTime PreferencesDiscounted Utility ModelDiscounting In Economic ModelsSocial DiscountingSocial Distance JudgmentsSocial Rate Of Discount
The amount of money a person was willing to forgo in order to give 75 dollars to another person decreased as a hyperbolic function of the perceived social distance between them. Similar hyperbolic functions have previously been shown to describe both time and probability discounting.
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Discounting of Delayed Rewards: A Life-Span Comparison
Leonard Green, Astrid F. Fry, Joel Myerson · Psychological Science · 1994 · 1.2K citations