Temporal Discounting of Various Items to Examine Characteristics that Affect Rate of Discounting
Smits, Rochelle R.
Haugle, Kathryn R.
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Individuals must make a vast amount of decisions every single day (e.g., what to wear, what to eat, what to do). Decisions are predictable when the alternatives differ in a single dimension (i.e., work for a job that has a large salary vs. a small salary, all else being equal). However, choices often involve outcomes that differ in multiple dimensions such as amount and delay (e.g., work a low-paying job right out of high school or receive a higher education for a higher-paying job in a few years). Currently, no research has examined temporal discounting of items with varying levels of exchange. While money can be exchanged for a wide variety of goods, gift cards/certificates can be exchanged for a limited range of goods. The current study examined the discounting of various items in order to further examine how the range of goods affect the rate of discounting.
Delay of gratification