Comparing mixed intertemporal tradeoffs with pure gains or pure losses
Intertemporal choices involve tradeoffs between outcomes that occur at different times. Most of the research has used pure gains tasks and the discount rates yielding from those tasks to explain and predict real-world behaviors and consequences. However, real decisions are often more complex and inv...
| Main Authors: | , , , , , , |
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| Format: | Article |
| Language: | English |
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Cambridge University Press
2021-05-01
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| Series: | Judgment and Decision Making |
| Subjects: | |
| Online Access: | http://journal.sjdm.org/20/201120/jdm201120.pdf |
| _version_ | 1797720748171722752 |
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| author | Jia-Tao Ma Lei Wang Li-Na Chen Quan He Qing-Zhou Sun Hong-Yue Sun Cheng-Ming Jiang |
| author_facet | Jia-Tao Ma Lei Wang Li-Na Chen Quan He Qing-Zhou Sun Hong-Yue Sun Cheng-Ming Jiang |
| author_sort | Jia-Tao Ma |
| collection | DOAJ |
| description | Intertemporal choices
involve tradeoffs between outcomes that occur at different times. Most of the
research has used pure gains tasks and the discount rates yielding from those
tasks to explain and predict real-world behaviors and consequences. However,
real decisions are often more complex and involve mixed outcomes (e.g.,
sooner-gain and later-loss or sooner-loss and later-gain). No study has used
mixed gain-loss intertemporal tradeoff tasks to explain and predict real-world
behaviors and consequences, and studies involving such tasks are also scarce.
Considering that tasks involving a combination of gains and losses may yield
different discount rates and that existing pure gains tasks do not explain or
predict real-world outcomes well, this study conducted two experiments to
compare the discount rates of mixed gain-loss intertemporal tradeoffs with
those of pure gains or pure losses (Experiment 1) and to examine whether these
tasks predicted different real-world behaviors and consequences (Experiment 2).
Experiment 1 suggests that the discount rate ordering of the four tasks was,
from highest to lowest, pure gains, sooner-loss and later-gain, pure losses,
and sooner-gain and later-loss. Experiment 2 indicates that the evidence
supporting the claim that the discount rates of the four tasks were related to
different real-world behaviors and consequences was insufficient. |
| first_indexed | 2024-03-12T09:24:58Z |
| format | Article |
| id | doaj.art-29e57cfcb2cd4e5eb41b7572a7ffcf6d |
| institution | Directory Open Access Journal |
| issn | 1930-2975 |
| language | English |
| last_indexed | 2024-03-12T09:24:58Z |
| publishDate | 2021-05-01 |
| publisher | Cambridge University Press |
| record_format | Article |
| series | Judgment and Decision Making |
| spelling | doaj.art-29e57cfcb2cd4e5eb41b7572a7ffcf6d2023-09-02T14:18:15ZengCambridge University PressJudgment and Decision Making1930-29752021-05-01163709728Comparing mixed intertemporal tradeoffs with pure gains or pure lossesJia-Tao MaLei WangLi-Na ChenQuan HeQing-Zhou SunHong-Yue SunCheng-Ming JiangIntertemporal choices involve tradeoffs between outcomes that occur at different times. Most of the research has used pure gains tasks and the discount rates yielding from those tasks to explain and predict real-world behaviors and consequences. However, real decisions are often more complex and involve mixed outcomes (e.g., sooner-gain and later-loss or sooner-loss and later-gain). No study has used mixed gain-loss intertemporal tradeoff tasks to explain and predict real-world behaviors and consequences, and studies involving such tasks are also scarce. Considering that tasks involving a combination of gains and losses may yield different discount rates and that existing pure gains tasks do not explain or predict real-world outcomes well, this study conducted two experiments to compare the discount rates of mixed gain-loss intertemporal tradeoffs with those of pure gains or pure losses (Experiment 1) and to examine whether these tasks predicted different real-world behaviors and consequences (Experiment 2). Experiment 1 suggests that the discount rate ordering of the four tasks was, from highest to lowest, pure gains, sooner-loss and later-gain, pure losses, and sooner-gain and later-loss. Experiment 2 indicates that the evidence supporting the claim that the discount rates of the four tasks were related to different real-world behaviors and consequences was insufficient.http://journal.sjdm.org/20/201120/jdm201120.pdfintertemporal choice mixed outcome discount rate real-world behavior real-world consequencenakeywords |
| spellingShingle | Jia-Tao Ma Lei Wang Li-Na Chen Quan He Qing-Zhou Sun Hong-Yue Sun Cheng-Ming Jiang Comparing mixed intertemporal tradeoffs with pure gains or pure losses Judgment and Decision Making intertemporal choice mixed outcome discount rate real-world behavior real-world consequencenakeywords |
| title | Comparing mixed
intertemporal tradeoffs with pure gains or pure losses |
| title_full | Comparing mixed
intertemporal tradeoffs with pure gains or pure losses |
| title_fullStr | Comparing mixed
intertemporal tradeoffs with pure gains or pure losses |
| title_full_unstemmed | Comparing mixed
intertemporal tradeoffs with pure gains or pure losses |
| title_short | Comparing mixed
intertemporal tradeoffs with pure gains or pure losses |
| title_sort | comparing mixed intertemporal tradeoffs with pure gains or pure losses |
| topic | intertemporal choice mixed outcome discount rate real-world behavior real-world consequencenakeywords |
| url | http://journal.sjdm.org/20/201120/jdm201120.pdf |
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