Delay discounting of real and hypothetical rewards III: steady-state assessments, forced-choice trials, and all real rewards

Human research in delay discounting has omitted several procedures typical of animal studies: forced-choice trials, consequences following each response, and assessment of stable response patterns. The present study manipulated these procedures across two conditions in which real or hypothetical rewards were arranged. Six college students participated in daily sessions, in which steady-state discounting of hypothetical and real rewards was assessed. No systematic effects of repeated exposure to hypothetical rewards was detected when compared with first day assessments of discounting. Likewise, no systematic effect of reward type (real versus hypothetical) was detected. When combined with previous research failing to detect a difference between hypothetical and potentially real rewards, these findings suggest that assessing discounting of hypothetical rewards in single sessions is a practical and valid procedure in the study of delay discounting.     

Estimating the subjective value of future rewards: comparison of adjusting-amount and adjusting-delay procedures

The present study examined whether equivalent discounting of delayed rewards is observed with different experimental procedures. If the underlying decision-making process is the same, then similar patterns of results should be observed regardless of procedure, and similar estimates of the subjective value of future rewards (i.e., indifference points) should be obtained. Two experiments compared discounting on three types of procedure: adjusting-delay (AD), adjusting-immediate-amount (AIA), and adjusting-delayed-amount (ADA). For the two procedures for which discounting functions can be established (i.e., AD and AIA), a hyperboloid provided good fits to the data at both the group and individual levels, and individuals' discounting on one procedure tended to be correlated with their discounting on the other. Notably, the AIA procedure produced the more consistent estimates of the degree of discounting, and in particular, discounting on the AIA procedure was unaffected by the order in which choices were presented. Regardless of which of the three procedures was used, however, similar patterns of results were obtained: Participants systematically discounted the value of delayed rewards, and robust magnitude effects were observed. Although each procedure may have its own advantages and disadvantages, use of all three types of procedure in the present study provided converging evidence for common decision-making processes underlying the discounting of delayed rewards.     

Within-subject comparison of degree of delay discounting using titrating and fixed sequence procedures

Different procedures are often used across experiments to estimate the degree of delay discounting, a common measure of impulsivity. In all procedures, participants indicate their choice between a reward available immediately and one available after a delay. The present experiment determined whether there are differences in the degree of discounting for a hypothetical $100 produced by a procedure that titrates the immediate amount (titrating sequence procedure) versus a procedure that presents a fixed sequence of immediate amounts (fixed sequence procedure) using a within-subject design. The adult human participants showed no significant differences in degree of discounting between procedures as assessed by a hyperboloid model and the Area Under the Curve. Furthermore, the Area Under the Curve values from the two procedures showed a strong positive correlation. These findings suggest there may be no systematic difference between the degree of delay discounting as estimated by the titrating sequence and fixed sequence procedures. Given the apparent similarities in the results, it appears researchers may be justified in basing their choice of which procedure to use on convenience.     

The combined effects of delay and probability in discounting

Human discounting studies have frequently observed hyperbolic discounting of rewards that are delayed or probabilistic. However, no studies have systematically combined delay and probability in a single discounting procedure. Indifference points of hypothetical money rewards that are both delayed and probabilistic were determined. Probabilities were converted into comparable delays according to the h/k constant of proportionality determined by , and discounting rates were calculated. These data provided a very good fit to the hyperbolic model of discounting, suggesting that delay and probability can be combined into a single metric in studies of discounting. The inclusion of a magnitude condition found the Magnitude Effect commonly found in studies of temporal discounting. A temporal resolution of uncertainty condition found no effect. The present paper offers a novel statistical method, within an established framework, for the analysis of data from studies of discounting that combine delay and probability.     

Humans can adopt optimal discounting strategy under real-time constraints

Critical to our many daily choices between larger delayed rewards, and smaller more immediate rewards, are the shape and the steepness of the function that discounts rewards with time. Although research in artificial intelligence favors exponential discounting in uncertain environments, studies with humans and animals have consistently shown hyperbolic discounting. We investigated how humans perform in a reward decision task with temporal constraints, in which each choice affects the time remaining for later trials, and in which the delays vary at each trial. We demonstrated that most of our subjects adopted exponential discounting in this experiment. Further, we confirmed analytically that exponential discounting, with a decay rate comparable to that used by our subjects, maximized the total reward gain in our task. Our results suggest that the particular shape and steepness of temporal discounting is determined by the task that the subject is facing, and question the notion of hyperbolic reward discounting as a universal principle.     

Parameters of delay discounting assessment: number of trials, effort, and sequential effects.

Procedural variants in estimating delay discounting (DD) have been shown to yield significant within-subject differences in estimated degree of delay discounting as well as variations in the patterns of choice. The purpose of this study was to evaluate the effect of subject control over the number of trials in a delay discounting task, on degree of delay discounting. Participants were assessed with two computerized DD assessments: the full-length method presented participants with a fixed set of 240 trials, and the abbreviated task, where once participants had shown indifference between the immediate and delayed rewards, the remaining trials for that delay value were omitted. While the full-length and abbreviated methods did not differentially affect patterns of choice or estimated delay discounting, the order of presentation (ascending or descending) of immediate rewards produced differences in each measure: rate of delay discounting was significantly lower when estimated with the descending sequence; a larger proportion of area under the discounting curve was concentrated around the indifference point trial with the descending sequence; and a lower correlation was observed between estimates obtained across methods with the descending sequence.     

Functional parameters of delay discounting assessment tasks: order of presentation

Several variants in the methods used to estimate delay discounting (DD) have been associated with within-subject differences in degree of DD. This study compared variants in the order of presentation of reward and delay values during assessment of DD of hypothetical cash. Participants were randomly assigned to one of two groups. For one group, the immediate reward values were presented in Ascending order and for the other, they were presented in Descending order. In addition, all participants completed a DD task with the reward values presented in a Random order. Degree of DD, calculated as area under the curve (AUC), was similar between the Ascending and Descending procedures, and was significantly higher with the Random procedure. Within-subjects AUC were positively correlated. Reaction times within choice trials changed systematically as a function of order of presentation of the immediate rewards, and distance to the indifference point within each delay value. Reaction times appear to parallel the effort involved in making the individual choices. Some procedural variants in the assessment of DD yield differences in behavior during the assessment task that affect the magnitude of the estimated delay discounting. Thus, the absolute magnitude of DD may not be directly comparable between methods.     

Percent body fat is related to delay and probability discounting for food in humans

This study describes delay and probability discounting patterns for hypothetical food and money in relation to percent body fat (PBF). Sixty university students completed four computerized discounting tasks in which they were asked to make a series of hypothetical decisions between (a) 10 dollars after one of several different delays (1, 2, 30, 180, and 365 days) or a smaller amount of money available immediately; (b) 10 bites of food after one of several delays (1, 2, 5, 10, and 20 h) or a smaller number of bites available immediately; (c) $10 at one of several probabilities (0.9, 0.75, 0.5, 0.25, 0.1) or a smaller amount of money to be received for sure; and (d) 10 bites of food at one of several probabilities (0.9, 0.75, 0.5, 0.25, 0.1) or a smaller number of bites to be received for sure. Median indifference points for all participants across each task were well described using the hyperbolic discounting function. Results suggest that percent body fat predicted discounting for hypothetical food, but not money, using regression analyses with the entire sample and when comparing individuals in the high and low quartiles for PBF. None of the other dietary variables (body mass index, subjective hunger, and time since last meal or snack) were related to discounting patterns. This suggests that individuals with high PBF may exhibit heightened sensitivities to delay and probability when making decisions about food.     

Delay discounting and gambling

Delay discounting describes the decline in the value of a reinforcer as the delay to that reinforcer increases. A review of the available studies revealed that steep delay discounting is positively correlated with problem or pathological gambling. One hypothesis regarding this correlation derives from the discounting equation proposed by Mazur (1989). According to the equation, steeper discounting renders the difference between fixed-delayed rewards and gambling-like variable-delayed rewards larger; with the latter being more valuable. The present study was designed to test this prediction by first assessing rats’ impulsive choices across four delays to a larger-later reinforcer. A second condition quantified strength of preference for mixed- over fixed-delays, with the duration of the latter adjusted between sessions to achieve indifference. Strength of preference for the mixed-delay alternative is given by the fixed delay at indifference (lower fixed-delay values reflect stronger preferences). Percent impulsive choice was not correlated with the value of the fixed delay at indifference and, therefore, the prediction of the hyperbolic model of gambling was not supported. A follow-up assessment revealed a significant decrease in impulsive choice after the second condition. This shift in impulsive choice could underlie the failure to observe the predicted correlation between impulsive choice and degree of preference for mixed- over fixed delays.     

Future altruism: Social discounting of delayed rewards

Social discounting assesses an individual's willingness to forgo an outcome for the self in lieu of a larger outcome for someone else. The purpose of the present research was to examine the effect of adding a common delay to outcomes in a binary choice, social discounting procedure. Based on the premise that both social and temporal distances are dimensions of psychological distance, we hypothesized that social discounting should decrease as a function of delay to the outcomes. Across two within-subject experiments, participants indicated preference between a hypothetical money reward for the self or for someone else. The outcomes were associated with no, short, and long delays. Both studies confirmed our hypothesis that adding any delay to the receipt of outcomes decreases social discounting, though no significant differences were observed between short and long delays. These results are discussed in the context of some existing literature on altruism.     

Domain independence and stability in young and older adults' discounting of delayed rewards

Individual discounting rates for different types of delayed reward are typically assumed to reflect a single, underlying trait of impulsivity. Recently, we showed that discounting rates are orders of magnitude steeper for directly consumable liquid rewards than for monetary rewards (Jimura et al., 2009), raising the question of whether discounting rates for different types of reward covary at the individual level. Accordingly, the present study examined the relation between discounting of hypothetical money and real liquid rewards in young adults (Experiment 1) and older adults (Experiment 2). At the group level, young adults discounted monetary rewards more steeply than the older adults, but there was no significant age difference with respect to liquid rewards. At the individual level, the rates at which young and older participants discounted each reward type were stable over a two- to fifteen-week interval (rs > 70), but there was no significant correlation between the rates at which they discounted the two reward types. These results suggest that although similar decision-making processes may underlie the discounting of different types of rewards, the rates at which individuals discount money and directly consumable rewards may reflect separate, stable traits, rather than a single trait of impulsivity.     

Discounting the freedom to choose: implications for the paradox of choice

Organisms prefer to make their own choices. However, emerging research from behavioral decision making sciences has demonstrated that there are boundaries to the preference for choice. Specifically, many decision makers find an extensive array of choice options to be aversive, often leading to negative emotional states and poor behavioral outcomes. This study examined the degree to which human participants discounted hypothetical rewards that were (a) delayed, (b) probabilistic, and (c) chosen from a large array of options. The present results suggest that the "paradox of choice" effect may be explained within a discounting model for individual patterns of decision making.     

Strain differences in delay discounting using inbred rats

A heightened aversion to delayed rewards is associated with substance abuse and numerous other neuropsychiatric disorders. Many of these disorders are heritable, raising the possibility that delay aversion may also have a significant genetic or heritable component. To examine this possibility, we compared delay discounting in six inbred strains of rats (Brown Norway, Copenhagen, Lewis, Fischer, Noble and Wistar Furth) using the adjusting amount procedure, which provides a measure of the subjective value of delayed rewards. The subjective value of rewards decreased as the delay to receipt increased for all strains. However, a main effect of strain and a strain × delay interaction indicated that some strains were more sensitive to the imposition of delays than others. Fitting a hyperbolic discount equation showed significant strain differences in sensitivity to delay ( k ). These data indicate that there are significant strain differences in delay discounting. All strains strongly preferred the 10% sucrose solution (the reinforcer in the delay discounting task) over water and the amount of sucrose consumed was correlated with sensitivity to delay. Locomotor activity was not correlated with delay discounting behavior. Additional research will be required to disentangle genetic influences from maternal effects and to determine how these factors influence the underlying association between heightened delay discounting and neuropsychiatric disorders.     

Probability and delay discounting of hypothetical sexual outcomes

The present study used the discounting procedure to characterize choice behaviors regarding hypothetical sexual outcomes. Eighty-six adult undergraduate students completed computerized delay and probability discounting tasks concerning hypothetical money and hypothetical sexual activity. Consistent with other discounting findings, hyperbolic and hyperbola-like decay models described individual and group median indifference point data well. These findings contribute to a growing literature on the relevance of the discounting procedure to decision-making processes and suggest that the discounting procedure may be useful for understanding the processes that underlie social problem behaviors associated with impulsive sexual decisions.     

Relations between delay discounting and low to moderate gambling, cannabis, and alcohol problems among university students

Research has generally demonstrated that the discounting of delayed rewards is associated with severity of addictive behaviour. Less clear, however, is the relative strength of the relation for specific addictive behaviours. University students (N = 218) completed a computerized delay discounting task for hypothetical monetary rewards, and gambling, cannabis, and alcohol problem severity was assessed. A multiple regression analysis revealed that while the overall model was significant, only gambling problem severity accounted for delay discounting scores above and beyond cannabis and alcohol problem severity. The results support the hypothesis that delay discounting of hypothetical monetary rewards is more associated with gambling than other addictive behaviour problems, including substance use problems.     

Measuring state changes in human delay discounting: an experiential discounting task

A new experiential discounting task (EDT) is presented. Unlike existing question-based measures of delay discounting, which rely on imagined consequences during task completion, this EDT requires that participants experience choice consequences (i.e. delays and pseudo consumatory responses) during the measurement period. As a preliminary examination of this task's sensitivity to variability in discounting, 12 participants (six females) completed a timing test (production and reproduction), a question-based measure of delay discounting, and the EDT during non-sleep-deprived (awake 7 h) and sleep-deprived (awake 21 h) conditions. Based on evidence that sleep deprivation increases impulsive behavior, it was hypothesized that participants would underrepresent time intervals in both production and reproduction procedures and discount significantly more with the discounting procedures while sleep deprived. Unfortunately, data from the question-based discounting procedure could not be reported due to invalid task completion. However, as hypothesized, certain production and reproduction intervals were underrepresented on the timing test, and discounting was significantly steeper on the EDT when participants were sleep deprived. Also, rate of discounting on the EDT was better characterized by a hyperbolic function than by exponential function, which is consistent with previous delay-discounting research. These preliminary results suggest this EDT may be a useful measure for assessing state changes in discounting processes.     

The Value of Emotion: How Does Episodic Prospection Modulate Delay Discounting?

Background

Humans often show impatience when making intertemporal choice for monetary rewards, preferring small rewards delivered immediately to larger rewards delivered after a delay, which reflects a fundamental psychological principle: delay discounting. However, we propose that episodic prospection humans can vividly envisage exerts a strong and broad influence on individuals'' delay discounting. Specifically, episodic prospection may affect individuals'' intertemporal choice by the negative or positive emotion of prospection.

Methodology/Principal Findings

The present study explored how episodic prospection modulated delay discounting by emotion. Study 1 showed that participants were more inclined to choose the delayed but larger rewards when they imaged positive future events than when they did not image events; Study 2 showed that participants were more inclined to choose the immediate but smaller rewards when they imaged negative future events than when they did not image events; In contrast, study 3 showed that choice preferences of participants when they imaged neutral future events were the same as when they did not image events.

Conclusions/Significance

By manipulating the emotion valence of episodic prospection, our findings suggested that positive emotion made individuals tend to choose delayed rewards, while negative emotion made individuals tend to choose immediate rewards. Only imaging events with neutral emotion did not affect individuals'' choice preference. Thus, the valence of imaged future events'' emotion might play an important role in individuals'' intertemporal choice. It is possible that the valence of emotion may affect the changed direction (promote or inhibit) of individuals'' delay discounting, while the ability to image future events affects the changed degree of individuals'' delay discounting.     

Will travel for food: spatial discounting in two new world monkeys

Nonhuman animals steeply discount the future, showing a preference for small, immediate over large, delayed rewards. Currently unclear is whether discounting functions depend on context. Here, we examine the effects of spatial context on discounting in cotton-top tamarins (Saguinus oedipus) and common marmosets (Callithrix jacchus), species known to differ in temporal discounting. We presented subjects with a choice between small, nearby rewards and large, distant rewards. Tamarins traveled farther for the large reward than marmosets, attending to the ratio of reward differences rather than their absolute values. This species difference contrasts with performance on a temporal task in which marmosets waited longer than tamarins for the large reward. These comparative data indicate that context influences choice behavior, with the strongest effect seen in marmosets who discounted more steeply over space than over time. These findings parallel details of each species' feeding ecology. Tamarins range over large distances and feed primarily on insects, which requires using quick, impulsive action. Marmosets range over shorter distances than tamarins and feed primarily on tree exudates, a clumped resource that requires patience to wait for sap to exude. These results show that discounting functions are context specific, shaped by a history of ecological pressures.     

Discounting of sequences of delayed rewards of different amounts

The main purpose of this study was to determine whether the magnitude effect is present in cases where delayed sequences of rewards are discounted. The magnitude effect refers to the inverse relationship between the amount of a reward and the steepness of temporal discounting. This study was conducted with a computer program to estimate the indifference points, which served as indicators of the present subjective value of delayed sequences of small and large rewards. In the indifference point the subjective value of a single, immediate reward was equal to the subjective value of the delayed sequence (or to the value of a single delayed reward). As a control condition, we added an experimental task involving choices between single immediate and single delayed rewards. The experiment showed that the sequences of large rewards are discounted less steeply than are the sequences of small rewards. This finding suggests that the magnitude effect is present within the delayed sequences of rewards. In addition, when outcomes are relatively large, the results suggest that a single reward is discounted less steeply than the sequence of a total nominal value equal to this single reward. However, for relatively small rewards, the difference is not statistically significant. The less steep discounting of sequences of large rewards may explain the reward-bundling effect, which refers to less steep discounting of longer sequences than of shorter ones: longer sequences usually have greater overall nominal value. The present study was conducted on hypothetical rewards, and the results should be validated using real rewards.