Temporal discounting and search habits: evidence for a task-dependent relationship
File(s)fpsyg-09-02102.pdf (1.48 MB)
Published version
Author(s)
Khaw, Mel W
Li, Ziang
Woodford, Michael
Type
Journal Article
Abstract
Recent experiments suggest that search direction causally affects the discounted valuation of delayed payoffs. Comparisons between options can increase individuals' patience toward future payoff options, while searching within options instead promotes impatient choices. We further test the robustness and specificity of this relationship using a novel choice task. Here individuals choose between pairs of delayed payoffs instead of single delayed outcomes. We observe a relationship between search styles and temporal discounting that are the opposite of those previously reported. Integrators—those who tend to compare attributes within alternatives—discount and choose more slowly than comparators—those who are more likely to compare between alternatives. This finding supports and augments the view that individuals' search strategy is predictive of subsequent discount rates. In particular, the direction of this relationship is further modifiable based on the spatial layout and varying information within an individual's decision-making environment.
Date Issued
2018-11-14
Date Acceptance
2018-10-11
Citation
Frontiers in Psychology, 2018, 9
ISSN
1664-1078
Publisher
Frontiers Media S.A.
Journal / Book Title
Frontiers in Psychology
Volume
9
Copyright Statement
© 2018 Khaw, Li and Woodford. This is an open-access article distributed
under the terms of the Creative Commons Attribution License (CC BY). The
use, distribution or reproduction in other forums is permitted, provided the
original author(s) and the copyright owner(s) are credited and that the original
publication in this journal is cited, in accordance with accepted academic practice.
No use, distribution or reproduction is permitted which does not comply with these
terms.
under the terms of the Creative Commons Attribution License (CC BY). The
use, distribution or reproduction in other forums is permitted, provided the
original author(s) and the copyright owner(s) are credited and that the original
publication in this journal is cited, in accordance with accepted academic practice.
No use, distribution or reproduction is permitted which does not comply with these
terms.
License URL
Identifier
http://dx.doi.org/10.3389/fpsyg.2018.02102
Publication Status
Published
Article Number
2102
Date Publish Online
2018-11-14