MODELING MYOPIC DECISIONS - EVIDENCE FOR HYPERBOLIC DELAY-DISCOUNTING WITHIN-SUBJECTS AND AMOUNTS

MODELING MYOPIC DECISIONS - EVIDENCE FOR HYPERBOLIC DELAY-DISCOUNTING WITHIN-SUBJECTS AND AMOUNTS
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DOI:
10.1006/obhd.1995.1086
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发表时间:
1995-10-01
影响因子:
4.6
通讯作者:
MARAKOVIC, NN
MARAKOVIC, NN
中科院分区:
管理学2区
文献类型:
--
作者:
KIRBY, KN;MARAKOVIC, NN

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双曲线贴现函数和指数贴现函数被作为被试对延迟奖励的现值评估模型进行了比较。以往的比较因依赖贴现率与奖励大小无关这一假设而受到限制;我们通过在奖励大小范围内进行所有比较避免了这一限制。在实验1中,在模拟拍卖中使用真实奖励,在实验2中,使用假设奖励,我们给被试提供五种金额的奖励,每种奖励有六个延迟时间,并要求他们指出为立即获得这些奖励他们愿意接受的最小金额。然后使用非线性回归将两种贴现函数分别与每种奖励的六个报告金额进行拟合。在这两个实验中,尽管两种函数都对数据拟合得很好,但双曲线函数对所有延迟奖励的拟合效果更好。此外,双曲线函数分别在实验1的21名被试中的20名和实验2的18名被试中的14名的数据描述上表现更优。(C) 1995学术出版社有限公司
Hyperbolic and exponential discounting functions were compared as models of subjects' present valuations of delayed rewards. Previous comparisons have been limited by relying on the assumption that discounting rate is independent of reward size; we avoided this limitation by making all comparisons within reward sizes. In Experiment 1, using real rewards in a simulated auction, and in Experiment 2, using hypothetical rewards, we offered subjects five monetary rewards at six delays each and asked them to indicate the smallest amount that they would accept immediately in exchange for those rewards. Both discounting functions were then fit to the six reported amounts for each reward using nonlinear regressions. In both experiments, although both functions fit the data very well, the hyperbolic function fit better for all of the delayed rewards. Furthermore, the hyperbolic function better described the data for 20 of 21 and 14 of 18 subjects in Experiments 1 and 2, respectively. (C) 1995 Academic Press, Inc.