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- All Subjects: Decision making--Psychological aspects.
- Creators: Robles, Elías
Description
The attractiveness of a reward depends in part on the delay to its receipt, with more distant rewards generally being valued less than more proximate ones. The rate at which people discount the value of delayed rewards has been associated with a variety of clinically and socially relevant human behaviors. Thus, the accurate measurement of delay discounting rates is crucial to the study of mechanisms underlying behaviors such as risky sex, addiction, and gambling. In delay discounting tasks, participants make choices between two alternatives: one small amount of money delivered immediately versus a large amount of money delivered after a delay. After many choices, the experimental task will converge on an indifference point: the value of the delayed reward that approximates the value of the immediate one. It has been shown that these indifference points are systematically biased by the direction in which one of the alternatives adjusts. This bias is termed a sequencing effect.
The present research proposed a reference-dependent model of choice drawn from Prospect Theory to account for the presence of sequencing effects in a delay discounting task. Sensitivity to reference frames and sequencing effects were measured in two computer tasks. Bayesian and frequentist analyses indicated that the reference-dependent model of choice cannot account for sequencing effects. Thus, an alternative, perceptual account of sequencing effects that draws on a Bayesian framework of magnitude estimation is proposed and furnished with some preliminary evidence. Implications for future research in the measurement of delay discounting and sensitivity to reference frames are discussed.
The present research proposed a reference-dependent model of choice drawn from Prospect Theory to account for the presence of sequencing effects in a delay discounting task. Sensitivity to reference frames and sequencing effects were measured in two computer tasks. Bayesian and frequentist analyses indicated that the reference-dependent model of choice cannot account for sequencing effects. Thus, an alternative, perceptual account of sequencing effects that draws on a Bayesian framework of magnitude estimation is proposed and furnished with some preliminary evidence. Implications for future research in the measurement of delay discounting and sensitivity to reference frames are discussed.
ContributorsBecker, Ryan J (Author) / Robles, Elías (Thesis advisor) / Sanabria, Federico (Committee member) / Hall, Deborah L. (Committee member) / Arizona State University (Publisher)
Created2018
Description
Delay discounting is the decline in the present value of a reward with delay to its receipt. (Mazur,1987). The delay discounting task is used to measure delay discounting rate, which requires the participants to choose between two options: one involves immediate delivery of a reward, and other involves delivery after a delay, and the immediate rewards are adjusted in value until the subject feels there is no difference between the immediate and the delayed reward. Some previous studies (Robles and Vargas, 2007; 2008; Robles et al., 2009) found that the order of presentation of the immediate rewards (ascending or descending) significantly influenced the estimated delay discounting rate, which is known as the order effect. Uncertainty about the future and impulsivity could explain delay discounting behavior. The purpose of this study was to explore the order effect in delay discounting assessment. The current study found that the order effect in the delay discounting task can be explained by risk aversion, loss aversion and impulsivity. In the current study, the two kinds of fixed procedure (ascending and descending), and the titrating delay discounting task were used to estimate the degree of delay discounting. Also, two gambling tasks were applied to measure risk and loss aversion indices. The BIS-11 scale was used to assess the level of trait impulsivity. The results indicated that impulsivity biases individuals to choose the immediate small reward rather than the large delayed reward, resulting in lower area under the discounting curve (AUC) when estimated with the ascending-sequence delay discounting task. Also, impulsivity moderated the relationship between loss aversion and AUC estimated with the descending-sequence delay discounting task.
ContributorsLi, Yaqi (Author) / Robles, Elías (Thesis advisor) / Hall, Deborah (Committee member) / Duran, Nicholas (Committee member) / Arizona State University (Publisher)
Created2018