The impact of intrinsic and extrinsic features on delay discounting
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The impact of intrinsic and extrinsic features on delay discounting Achikam Cohen 1 & Sacha Bourgeois-Gironde 2 & Yehuda Pollak 1
# The Psychonomic Society, Inc. 2020
Abstract Delay discounting refers to the tendency of people to evaluate immediate rewards as being more valuable than those that are distant in time. Several models explain this phenomenon by a set of intrinsic and extrinsic features. Intrinsic features are related to the inherent traits and neurological conditions of the individual, whereas extrinsic features are related to the characteristics of the reward. In this study, we refer to extraversion and attention-deficit/hyperactivity disorder symptoms (attention and hyperactivityimpulsivity) as intrinsic features, and to fungibility, perishability, and magnitude of the reward as extrinsic features. Whereas there is a known main effect to these intrinsic and extrinsic features, the current research examines their additive and interactive contributions to delay discounting. A total of 222 participants filled out an online questionnaire measuring intrinsic features and presenting decision tasks with different types of rewards. The scores of the intrinsic variables and the delay discounting rate for each reward were calculated and analyzed. The results replicated previous findings showing main effects of hyperactivity, fungibility, perishability, and magnitude. They also provided new findings on an interaction between fungibility-perishability and hyperactivity—the effect of hyperactivity on delay discounting was larger when the rewards were fungible and nonperishable than when the rewards were perishable and nonfungible. This interaction has practical implications that can help in moderating delay discounting in clinical treatments of impulsivity as well as in constructing efficient economic models for consumers. Keywords Delay discounting . ADHD . Extraversion . Fungibility . Perishability . Magnitude
Delay discounting refers to the tendency of people to evaluate immediate rewards as being more valuable than those that are distant in time (Frederick, Loewenstein, & O’Donoghue, 2002). This tendency can be described as a hyperbolic function where the subjective value of a reward declines steeply with shorter delays, but more gradually with longer delays (Mazur, 1987). Specifically, according to Mazur’s (1987) hyperbola, the discounting function is represented by the equaA tion V ¼ 1þkD ; where V is the subjective value of the reward, A is the future amount, D is the delay, and k is the discounting rate. Delay discounting procedures try to find the point at which two rewards, one relatively immediate but small and Sacha Bourgeois-Gironde and Yehuda Pollak contributed equally to this work. * Achikam Cohen [email protected] 1
The Seymour Fox School of Education, The Hebrew University of Jerusalem, Jerusalem, Israel
2
Institut Jean Nicod, Département d’études cognitives, ENS, EHESS, CNRS, PSL University, UMR 8129, 29 rue d’Ulm, 75005 Paris, France
one large yet delayed, are approximately eq
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