Related Experiment Video
Updated: Jun 23, 2026
07:47
Measuring Delay Discounting in Humans Using an Adjusting Amount Task
Published on: January 9, 2016
Individual laboratory-measured discount rates predict field behavior.
Christopher F Chabris1, David Laibson, Carrie L Morris
1Union College.
Journal of Risk and Uncertainty
|May 5, 2009
Summary
Individual discount rates predict real-world behaviors like exercise and smoking, though correlations are initially small. Aggregating behaviors reveals stronger links, suggesting discount rates are important for understanding intertemporal choices.
Area of Science:
- Behavioral Economics
- Psychology
- Decision Science
Background:
- Individual discount rates quantify preferences for immediate versus delayed rewards.
- Understanding factors influencing real-world behaviors is crucial for public health and policy.
- Previous research has explored the link between discount rates and various life choices.
Purpose of the Study:
- To estimate individual discount rates in a laboratory setting.
- To assess the predictive power of discount rates for real-world behaviors.
- To develop a model explaining the relationship between discount rates and aggregated behaviors.
Main Methods:
- Recruited 555 subjects for a laboratory task to estimate individual discount rates.
- Collected data on field behaviors such as exercise, Body Mass Index (BMI), and smoking.
- Employed statistical analysis to correlate discount rates with individual and aggregated field behaviors.
Main Results:
- Individual discount rates showed small correlations (≤0.28) with specific field behaviors.
- Discount rates demonstrated predictive power comparable to demographic variables (sex, age, education).
- Correlations increased significantly when field behaviors were aggregated (0.09-0.38).
Conclusions:
- Discount rates are significant predictors of aggregated intertemporal choices in real-world behaviors.
- A proposed model explains the weak correlation with individual behaviors versus stronger correlation with aggregated behaviors.
- Discount rates offer valuable insights into decision-making processes influencing health and lifestyle choices.
Related Concept Videos
01:23Mechanistic Models: Compartment Models in Individual and Population Analysis
Mechanistic models are utilized in individual analysis using single-source data, but imperfections arise due to data collection errors, preventing perfect prediction of observed data. The mathematical equation involves known values (Xi), observed concentrations (Ci), measurement errors (εi), model parameters (ϕj), and the related function (ƒi) for i number of values. Different least-squares metrics quantify differences between predicted and observed values. The ordinary least squares (OLS)...
01:52Regression Toward the Mean
Regression toward the mean (“RTM”) is a phenomenon in which extremely high or low values—for example, and individual’s blood pressure at a particular moment—appear closer to a group’s average upon remeasuring. Although this statistical peculiarity is the result of random error and chance, it has been problematic across various medical, scientific, financial and psychological applications. In particular, RTM, if not taken into account, can interfere when researchers try to extrapolate results...
03:09Measuring Reaction Rates
Polarimetry finds application in chemical kinetics to measure the concentration and reaction kinetics of optically active substances during a chemical reaction. Optically active substances have the capability of rotating the plane of polarization of linearly polarized light passing through them—a feature called optical rotation. Optical activity is attributed to the molecular structure of substances. Normal monochromatic light is unpolarized and possesses oscillations of the electrical field in...
01:19Testing a Claim about Standard Deviation
A complete procedure to test a claim about population standard deviation or population variance is explained here.
The hypothesis testing for the claim of population standard deviation (or variance) requires the data and samples to be random and unbiased. The population distribution also must be normal. There is no specific requirement on the sample size as the estimation is based on the chi-square distribution.
As a first step, the hypothesis (null and alternative) concerning the claim about...
The hypothesis testing for the claim of population standard deviation (or variance) requires the data and samples to be random and unbiased. The population distribution also must be normal. There is no specific requirement on the sample size as the estimation is based on the chi-square distribution.
As a first step, the hypothesis (null and alternative) concerning the claim about...
01:26Derivatives: Problem Solving
Temperature-Dependent Growth of Brook TroutThe growth of brook trout is closely influenced by water temperature. Experimental data demonstrate how trout weight changes over a 24-day period in response to varying water temperatures. At lower temperatures, such as 15.5 degrees Celsius, brook trout show significant weight gain. However, as the temperature increases, the amount of weight gained steadily decreases. At the highest temperature measured, 24.4 degrees Celsius, trout experience a net...
02:30Naturalistic Observations
If you want to understand how behavior occurs, one of the best ways to gain information is to simply observe the behavior in its natural context. However, people might change their behavior in unexpected ways if they know they are being observed. How do researchers obtain accurate information when people tend to hide their natural behavior? As an example, imagine that your professor asks everyone in your class to raise their hand if they always wash their hands after using the restroom. Chances...