Title

Social Discounting and Delay Discounting

Publication Title

Journal of Behavioral Decision Making

Publication Date

1-2008

Document Type

Article

DOI

10.1002/BDM.567

Keywords

discounting, delay discounting, hyperbolic discounting, magnitude estimation, probability discounting, social discounting

Disciplines

Experimental Analysis of Behavior | Psychology | Social Psychology

Abstract

Social discounting was measured as the amount of money a participant was willing to forgo to give a fixed amount (usually $75) to another person. In the first experiment, amount forgone was a hyperbolic function of the social distance between the giver and receiver. In the second experiment, degree of social discounting was an increasing function of reward magnitude whereas degree of delay discounting was a decreasing function of reward magnitude. In the third experiment, the shape of the function relating delayed rewards to equally valued immediate rewards for another person was predicted from individual delay and social discount functions. All in all, the studies show that the social discount function, like delay and probability discount functions, is hyperbolic in form.

Publisher

Wiley

Publisher Location

Hoboken, NJ


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