Journal
JOURNAL OF THE EXPERIMENTAL ANALYSIS OF BEHAVIOR
Volume 76, Issue 2, Pages 235-243Publisher
SOC EXP ANALYSIS BEHAVIOR INC
DOI: 10.1901/jeab.2001.76-235
Keywords
discounting; area under the curve; delay; probability
Funding
- NIMH NIH HHS [MH55308] Funding Source: Medline
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We describe a novel approach to the measurement of discounting based on calculating the area under the empirical discounting function. This approach avoids some of the problems associated with measures based on estimates of the parameters of theoretical discounting functions, The area measure may be easily calculated for both individual and group data collected using any of a variety of current delay and probability discounting procedures. The present approach is not intended as a substitute for theoretical discounting models, It is useful, however, to have a simple, univariate measure of discounting that is not tied to any specific theoretical framework.
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