Intertemporal choices
7 important questions on Intertemporal choices
How should we model intertemporal choices?
- Exponential
- hyperbolic
- Quasi-hyperbolic
Two predominant neuroscience models for intertemporal choices in 2008:
- Beta-delta model
- neurometric model
Beta/delta model (2008)
- Neural/psychological interpretation of the 2 exponential discount
Dual -> animal interpretation - animal
instincts to want everything now (beta) combined with a more rational self, which determine our behaviour (delta).
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Beta-delta and neurometric models are valuation models. What does this mean?
Whatever options has the highest subjective value is chosen
In beta/delta model there are two of those discounting processes going on
- Beta processes
- steep/impatient discounting of non-immediate rewards
- Active when immediate rewards are available: now trials
- VS, mPFC, mOFC, PCC
- Delta processes
- patient
- moderately discount all rewards
- active durIng all trials: now and not-now
- IPFC, PCC, LOCF
Methodological peculiarities (eigenaardigheden)
- Participants made lots and lost of these choices
-> highly overtrained - inconsistent participants were removed
- SS was constant (and not even shown): $20 now
- Might induce specific strategies?
- Don't talk about self-control
Third model: self-control model
In the definition of self-control:
- Choice does NOT always follow automatically from valuation
- Self-control allows one to resist prepotent …
- sans-serifTake the LL despite the tempting immediate SS
(e.g., go to the gym instead of watching a movie)
- Back then, never directly investigated in intertemporal choice
- Causal evidence from rTMS studies in social and risky DM (knoch & Fehr, 2007)
- Disruption of right LPFC function à reduced self-control
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
