DISCOUNTING OF DELAYED REWARDS - MODELS OF INDIVIDUAL CHOICE
DISCOUNTING OF DELAYED REWARDS - MODELS OF INDIVIDUAL CHOICE
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DOI：
10.1901/jeab.1995.64-263
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发表时间：
1995-11-01
影响因子：
2.7
通讯作者：
GREEN, L
中科院分区：
文献类型：
--
作者：
MYERSON, J;GREEN, L
本文讨论的问题的形式之间的数学关系的时间，直到延迟奖励和其现值。数据来自一个实验，在这个实验中，受试者在假设的立即可用的钱和延迟后可用的钱之间做出选择（绿色，弗莱和迈尔森，1994）。对个体年轻人行为的分析表明，时间贴现用双曲线函数比用指数衰减函数更好地描述。对于大多数人来说，决定贴现率的参数与金额成反比。将贴现函数的分母提高到幂，可以更好地描述大多数受试者的数据。提出了时间折扣函数的两种可能的推导形式：重复选择模型和期望值模型。这些结果为指数参数与折现率相关但与折现率无关提供了理论解释。
The present paper addresses the question of the form of the mathematical relation between the time until a delayed reward and its present value. Data are presented from an experiment in which subjects chose between hypothetical amounts of money available either immediately or after a delay (Green, Fry, & Myerson, 1994). Analyses of the behavior of individual young adults demonstrated that temporal discounting is better described by hyperbola-like functions than by exponential decay functions. For most individuals, the parameter that determines the rate of discounting varied inversely with amount. Raising the denominator of the discounting function to a power resulted in better descriptions of the data from most subjects. Two possible derivations of the temporal discounting function are proposed, a repeated choice model and an expected value model. These provide theoretical interpretations for amount-dependent discounting but amount-independent exponent parameters.