Delay Discounting of Potentially Real and Hypothetical Rewards: II. Between- and Within-Subject Comparisons.

Prior studies comparing discounting of delayed hypothetical or potentially real rewards have reported no differences, but they used within-subjects designs. This raises the possibility that participants remembered their choices in one condition and repeated them in the other. In Experiment 1, between-subjects comparisons were made with an adjusting-amount procedure. No significant effect of reward type on delay discounting was detected. Experiment 2 increased the proportion of real rewards and made between- and within-subject comparisons. These comparisons also failed to reveal a significant effect of reward type. Although these findings are consistent with prior findings, caution is urged because choices involving hypothetical rewards have yet to be compared with choices involving real rewards (i.e., the consequences of every choice are obtained) in an experiment using forced-choice trials and steady-state methodology. (PsycINFO Database Record (c) 2010 APA, all rights reserved)     

Positive mood effects on delay discounting.

Delay discounting is the process by which the value of an expected reward decreases as the delay to obtaining that reward increases. Individuals with higher discounting rates tend to prefer smaller immediate rewards over larger delayed rewards. Previous research has indicated that personality can influence an individual's discounting rates, with higher levels of Extraversion predicting a preference for immediate gratification. The current study examined how this relationship would be influenced by situational mood inductions. While main effects were observed for both Extraversion and cognitive ability in the prediction of discounting rates, a significant interaction was also observed between Extraversion and positive affect. Extraverted individuals were more likely to prefer an immediate reward when first put in a positive mood. Extraverts thus appear particularly sensitive to impulsive, incentive-reward-driven behavior by temperament and by situational factors heightening positive affect. (PsycINFO Database Record (c) 2010 APA, all rights reserved)     

Temporal discounting in choice between delayed rewards: The role of age and income.

This study examined the effects of age and income on temporal discounting (i.e., the decrease in the subjective value of a reward as the delay to its receipt increases). The value of delayed hypothetical monetary rewards was discounted at similar rates by adults of different ages but similar income levels, but at different rates by adults of similar age but different income levels. Specifically, lower income older adults showed a greater degree of temporal discounting than did either upper income older adults or upper income younger adults, but there were no age differences in discounting between the upper income groups. Comparison of these findings with those of a previous study (Green, Fry, & Myerson, 1994) suggests that impulsivity in decision making declines rapidly in young adulthood, reaching stable levels in the 30s. Further, age and income appear to interact in determining the impulsivity of decision making by adults. (PsycINFO Database Record (c) 2010 APA, all rights reserved)     

Bringing meaning to numbers: The impact of evaluative categories on decisions.

Decision makers are often quite poor at using numeric information in decisions. The results of 4 experiments demonstrate that a manipulation of evaluative meaning (i.e., the extent to which an attribute can be mapped onto a good/bad scale; this manipulation is accomplished through the addition of visual boundary lines and evaluative labels to a graphical format) has a robust influence in health judgments and choices and across diverse adult populations. The manipulation resulted in greater use of numeric quality-of-care information in judgments and less reliance on an irrelevant affective state among the less numerate. Recall results for provided quality-of-care numbers suggested that the manipulation did not influence depth of number processing with the exception of cost information that was not remembered as well. Results of a reaction-time paradigm revealed that feelings were more accessible than thoughts in the presence of the manipulation, suggesting that the effect may be due, at least in part, to an affective mechanism. Numeric information is often provided in decisions, but may not be usable by consumers without assistance from information providers. Implications for consumer decision making and the functions of affect are discussed. (PsycINFO Database Record (c) 2010 APA, all rights reserved)     

Intuition, affect, and personality: Unconscious coherence judgments and self-regulation of negative affect.

According to personality systems interaction theory, a negative mood was expected to reduce access to extended semantic networks and to reduce performance on intuitive judgments of coherence for participants who have an impaired ability to down-regulate negative affect (i.e., state-oriented participants). Consistent with expectations, state-oriented participants reporting higher levels of perseverating negative mood had a reduced discrimination between coherent and incoherent standard word triples (Study 1) and individually derived word triples describing persons (Study 2). Participants who are able to down-regulate negative affect (i.e., action-oriented participants) did not show this tendency. In addition, Study 2 revealed a dissociation between state orientation and Neuroticism that is discussed in terms of a functional difference between the two constructs. (PsycINFO Database Record (c) 2010 APA, all rights reserved)     

Alcohol demand, delayed reward discounting, and craving in relation to drinking and alcohol use disorders.

A behavioral economic approach to alcohol use disorders (AUDs) emphasizes both individual and environmental determinants of alcohol use. The current study examined individual differences in alcohol demand (i.e., motivation for alcohol under escalating conditions of price) and delayed reward discounting (i.e., preference for immediate small rewards compared to delayed larger rewards) in 61 heavy drinkers (62% with an AUD). In addition, based on theoretical accounts that emphasize the role of craving in reward valuation and preferences for immediate rewards, craving for alcohol was also examined in relation to these behavioral economic variables and the alcohol-related variables. Intensity of alcohol demand and delayed reward discounting were significantly associated with AUD symptoms, but not with quantitative measures of alcohol use, and were also moderately correlated with each other. Likewise, craving was significantly associated with AUD symptoms, but not with alcohol use, and was also significantly correlated with both intensity of demand and delayed reward discounting. These findings further emphasize the relevance of behavioral economic indices of motivation to AUDs and the potential importance of craving for alcohol in this relationship. (PsycINFO Database Record (c) 2010 APA, all rights reserved)     

Temporal horizons in decision making.

The perception of duration is crucial when we make choices between immediate and delayed rewards. Immediate rewards are valued more than the same rewards if they are delayed. Preferences for earlier rewards become even stronger when the reward can be received within a subjectively proximate time frame. A “rational” decision to wait for a delayed reward may be overruled by an “impulsive” choice when the option for the closer reward falls within this proximate time range. Based on findings on circadian and circannual physiological rhythms, we suggest that there are 2 time units that are both biologically and culturally determined and have an impact on human experience and behavior: the day and the year. We highlight results of a neuroimaging study showing that rewards with delays up to 1 year are discounted differently than reward delays longer than 1 year. This duration-dependent discounting is associated with specific brain activation in the striatum. We present various conceptualizations of subjective time incorporated in parametric models of intertemporal decisions that may lead to a better understanding of human choice behavior. (PsycINFO Database Record (c) 2010 APA, all rights reserved)     

The Impact of Positive and Negative Affect and Issue Framing on Issue Interpretation and Risk Taking

Two studies examined the influence of transient affective states and issue framing on issue interpretation and risk taking within the context of strategic decision making. In Study 1, participants in whom transient positive or negative affective states were induced by reading a short story showed systematic differences in issue interpretation and risk taking in a strategic decision making context. Compared to negative mood participants, those in a positive mood were more likely to interpret the strategic issue as an opportunity and displayed lower levels of risk taking. Study 2 replicated and extended these results by crossing affective states with threat and opportunity frames. Results showed that framing an issue (as a threat or an opportunity) had a stronger impact on issue interpretation among negative affect participants than among positive affect participants. Affective states also moderated the impact of issue framing on risk taking: the effect of framing on risk-taking was stronger under negative rather than positive affect. These results are interpreted via information-processing and motivational effects of affect on a decision maker. Copyright 1998 Academic Press.     

Discounting of delayed rewards in opioid-dependent outpatients: Exponential or hyperbolic discounting functions?

Recent theories of substance abuse have used value discounting of delayed rewards to partly explain the decision to take drugs. Normative-economic theory holds that an exponential function describes the effects of delay on discounting, whereas the matching law posits a hyperbolic discounting function. The ability of these functions to describe 18 human heroin-dependent individuals' monetary- and heroin-reward delay-discounting functions was assessed. In the 1st condition, participants chose between immediate and delayed hypothetical monetary rewards. Delayed rewards were $1,000, and the immediate reward amount was adjusted until choices reflected indifference. In the 2nd condition, participants chose between immediate and delayed heroin (the delayed amount was that which each participant reported he or she could purchase with $1,000). The hyperbolic function produced significantly higher R2 values and significantly lower sums of squared error values. Consistent with previous findings, delayed heroin rewards were discounted at a significantly higher rate than were delayed monetary rewards. (PsycINFO Database Record (c) 2010 APA, all rights reserved)     

Brain evoked potentials reflect how emotional faces influence our decision making.

Emotion is usually not discussed as a relevant variable in rational models of decision making—but may be one. The present electroencephalographic study demonstrates the influence of emotional primes (angry, happy faces) on purchase decisions. In a within-subject design, pictures of an apartment were shown to participants who then had to make Go/NoGo decisions on whether to rent it. Their decision should be based either on its price or on its brightness. In two thirds of the trials, emotional prime pictures of happy versus unhappy faces preceded the purchase target (apartment); in one third of the trials no prime was given. Response certainty was evaluated by means of reaction times (RT) and peak amplitude of the event-related potential N200. Facial primes accelerated decisions (RT) irrespective of affective expression. Positive face primes elicited larger N200 amplitudes during purchase decision compared to negative ones. Price-based decisions were made faster and elicited larger N200 than brightness-based decisions. These results support the cognitive-tuning model of decision making and validate the N200 as sensitive measure for the interplay of cognitive and affective aspects in decision making. (PsycINFO Database Record (c) 2010 APA, all rights reserved)     

Amount of reward has opposite effects on the discounting of delayed and probabilistic outcomes.

Previous research has shown that the value of large future rewards is discounted less steeply than is the value of small future rewards. These experiments extended this line of research to probabilistic rewards. Two experiments replicated the standard findings for delayed rewards but demonstrated that amount has an opposite effect on the discounting of probabilistic rewards. That is, large probabilistic amounts were discounted at the same or higher rates than small amounts. Although amount had opposite effects on the discounting of delayed and probabilistic rewards, nevertheless, the same form of mathematical function accurately described discounting of both types of reward. The findings suggest that fundamentally similar, but not identical, processes are involved in decision making regarding delayed and probabilistic rewards. The implications of these findings for impulsivity and self-control are discussed. (PsycINFO Database Record (c) 2010 APA, all rights reserved)     

The effect of positive or negative frame on the choices of students in school psychology and educational administration.

School psychologists and educational administrators are responsible for decisions regarding both programs and individuals in the schools. Research in cognitive psychology has suggested that the framing (i.e., the wording) of decision alternatives may greatly affect which options are chosen. The authors examined whether framing affected choices of doctoral students in school psychology and educational administration. 109 participants responded to 5 decision problems whose outcomes were framed either positively as gains or negatively as losses. Frame and profession significantly affect the number of risky choices. Negative framing led to more risky choices than positive framing, consistent with Prospect Theory. In addition, educational administration students made more risky choices than school psychology students, regardless of framing. The presence of framing effects suggests a barrier to effective decision making because objectively identical versions of alternatives led to different choices. The difference between professions regarding the number of risky choices may represent a barrier to understanding and effective cooperation between these 2 groups. Creatively addressing this challenge may improve interdisciplinary collaboration. (PsycINFO Database Record (c) 2010 APA, all rights reserved)     

Temporal discounting of rewards in patients with bipolar disorder and schizophrenia.

Patients with bipolar disorder (BD) and schizophrenia (SZ) often show decision-making deficits in everyday circumstances. A failure to appropriately weigh immediate versus future consequences of choices may contribute to these deficits. We used the delay discounting task in individuals with BD or SZ to investigate their temporal decision making. Twenty-two individuals with BD, 21 individuals with SZ, and 30 healthy individuals completed the delay discounting task along with neuropsychological measures of working memory and cognitive function. Both BD and SZ groups discounted delayed rewards more steeply than did the healthy group even after controlling for current substance use, age, gender, and employment. Hierarchical multiple regression analyses showed that discounting rate was associated with both diagnostic group and working memory or intelligence scores. In each group, working memory or intelligence scores negatively correlated with discounting rate. The results suggest that (a) both BD and SZ groups value smaller, immediate rewards more than larger, delayed rewards compared with the healthy group and (b) working memory or intelligence is related to temporal decision making in individuals with BD or SZ as well as in healthy individuals. (PsycINFO Database Record (c) 2011 APA, all rights reserved)     

The effects of diffuse and distinct affect.

In a series of suboptimal priming studies, it was shown that both affective and nonaffective reactions to a stimulus may occur without awareness. Moreover, it was demonstrated that affective information is detected earlier than nonaffective information. Therefore, early reactions to an affect-laden stimulus (e.g., a smiling man) are cognitively unappraised and thus diffuse (e.g., "positive"), whereas later affective reactions can be more specific and distinct (e.g., "a smiling man"). Through variations of prime exposure (extremely short, moderately short) the impact of early diffuse and late distinct affect on judgment was investigated. Findings show that distinctness (and prime-target similarity) is an essential determinant of whether the effect of affect is null, assimilation, or contrast. Furthermore, whether affect priming activates diffuse or distinct reactions is a matter of a fraction of seconds. (PsycINFO Database Record (c) 2010 APA, all rights reserved)     

Motivation, affect, and hemispheric asymmetry: Power versus affiliation.

In 4 experiments, the authors examined to what extent information related to different social needs (i.e., power vs. affiliation) is associated with hemispheric laterality. Response latencies to a lateralized dot-probe task following lateralized pictures or verbal labels that were associated with positive or negative episodes related to power, affiliation, or achievement revealed clear-cut laterality effects. These effects were a function of need content rather than of valence: Power-related stimuli were associated with right visual field (left hemisphere) superiority, whereas affiliation-related stimuli were associated with left visual field (right hemisphere) superiority. Additional results demonstrated that in contrast to power, affiliation primes were associated with better discrimination between coherent word triads (e.g., goat, pass, and green, all related to mountain) and noncoherent triads, a remote associate task known to activate areas of the right hemisphere. (PsycINFO Database Record (c) 2010 APA, all rights reserved)     

On the temporal stability of personality: Evidence for differential stability and the role of life experiences.

The authors investigated the stability of personality and trait affect in young adults. In Studies 1 and 2, young adults were retested on a Big Five personality measure and a trait affect inventory over a 2.5-year and a 2-month period, respectively. Results from Study 1 point to positive mean-level changes; participants scored higher on Extraversion, Openness, Agreeableness, and Conscientiousness at Time 2. Affectively, participants experienced less negative affect and more positive affect at Time 2. Results from both retests provide clear evidence of differential stability. Affective traits were consistently less stable than the Big Five. Other analyses suggest that life events influence the stability of affective traits more than the Big Five. (PsycINFO Database Record (c) 2010 APA, all rights reserved)     

Temporal Discounting When the Choice Is Between Two Delayed Rewards.

The present experiments extend the temporal discounting paradigm from choice between an immediate and a delayed reward to choice between 2 delayed rewards: a smaller amount of money available sooner and a larger amount available later. Across different amounts and delays, the data were consistently well described by a hyperbola-like discounting function, and the degree of discounting decreased systematically as the delay to the sooner reward increased. Three theoretical models (the elimination-by-aspects, present-value comparison, and common-aspect attenuation hypotheses) were evaluated. The best account of the data was provided by the common-aspect attenuation hypothesis, according to which the common aspect of the choice alternatives (i.e., the time until the sooner reward is available) receives less weight in the decision-making process. (PsycINFO Database Record (c) 2010 APA, all rights reserved)     

Differential effects on effort discounting induced by inactivations of the nucleus accumbens core or shell.

The authors investigated the contribution of the nucleus accumbens (NAc) core and shell to effort-based decision making using a discounting procedure. Selection of 1 lever delivered a smaller, 2-pellet reward immediately, whereas the other lever delivered a 4-pellet reward after a fixed ratio of presses (2, 5, 10, or 20) that increased over 4 blocks of 10 discrete choice trials. Subsequent testing employed an equivalent delays procedure, whereby the relative delay to reward delivery after selection of either option was equalized. In well-trained rats, inactivation of the core, but not the shell, via infusion of GABA A/B agonists muscimol/baclofen reduced preference for the high-effort option under standard conditions and also when rats were tested using an equivalent delays procedure. However, inactivation of the core did not alter preference for 4-pellet versus 2-pellet rewards when the relative costs of each option were the same (1 press). Thus, the NAc core, but not the shell, appears to be part of a neural circuit that biases choice toward larger rewards associated with a greater effort cost. Furthermore, the contributions by the NAc core to this form of decision making can be dissociated from its role in delay discounting. (PsycINFO Database Record (c) 2010 APA, all rights reserved)     

Social and physical anhedonia and valence and arousal aspects of emotional experience.

Two studies examined whether self-reported anhedonia is associated with 2 facets of emotional experience, valence and arousal. In Study 1, in multiple assessments of emotional experience (e.g., naturalistic and lab contexts and social and nonsocial situations), people with elevated social anhedonia (n = 40) reported less intensity of positive affect than both controls (n = 30) and people with elevated perceptual aberration-magical ideation (n = 29). Social anhedonia was also associated with providing less emotional content when describing what it is like to experience positive situations. In contrast, both social anhedonia and perceptual aberration-magical ideation were associated with increased frequency of negative affect for their daily experiences. Moreover, social anhedonia was not associated with a decrease specifically in high-arousal emotions. In Study 2 (n = 339), social and physical anhedonia (but not perceptual aberration-magical ideation) were again associated with decreased self-reported positive affect to lab stimuli. In these studies, results were not statistically accounted for by personality, current mood, or current distress. Overall, results suggest anhedonia may be associated with a general decrease in self-reported positive affect intensity. (PsycINFO Database Record (c) 2010 APA, all rights reserved)