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Direct linkVanderveldt, Ariana; Green, Leonard; Myerson, Joel – Journal of Experimental Psychology: Learning, Memory, and Cognition, 2015
The value of an outcome is affected both by the delay until its receipt (delay discounting) and by the likelihood of its receipt (probability discounting). Despite being well-described by the same hyperboloid function, delay and probability discounting involve fundamentally different processes, as revealed, for example, by the differential effects…
Descriptors: Rewards, Delay of Gratification, Probability, Money Management
