Jove
Visualize
Contact Us
JoVE
x logofacebook logolinkedin logoyoutube logo
ABOUT JoVE
OverviewLeadershipBlogJoVE Help Center
AUTHORS
Publishing ProcessEditorial BoardScope & PoliciesPeer ReviewFAQSubmit
LIBRARIANS
TestimonialsSubscriptionsAccessResourcesLibrary Advisory BoardFAQ
RESEARCH
JoVE JournalMethods CollectionsJoVE Encyclopedia of ExperimentsArchive
EDUCATION
JoVE CoreJoVE BusinessJoVE Science EducationJoVE Lab ManualFaculty Resource CenterFaculty Site
Terms & Conditions of Use
Privacy Policy
Policies

Related Concept Videos

Primary and Secondary Reinforcers01:23

Primary and Secondary Reinforcers

In psychology, reinforcement is a key concept in behavior modification. B.F. Skinner demonstrated this with his experiments involving rats in what is known as a Skinner box. The rats learned to press a lever to receive food, a primary reinforcer that fulfilled their innate need for nourishment.
Effective reinforcers for humans vary depending on the individual and the context. Primary reinforcers, such as food, water, sleep, shelter, and pleasure, have inherent value and satisfy basic biological...
Reinforcement01:23

Reinforcement

Positive and negative reinforcement are key concepts in operant conditioning, a learning process where the consequences of a behavior affect the likelihood of that behavior being repeated.
Positive reinforcement occurs when a behavior is followed by the presentation of a rewarding stimulus, increasing the frequency of that behavior. For example:
Reinforcement Schedules01:24

Reinforcement Schedules

Positive reinforcement is a powerful method for teaching new behaviors to both animals and humans. B.F. Skinner demonstrated this with his experiments using rats in a Skinner box. When a rat pressed a lever, it received a food pellet. This immediate reward encouraged the rat to repeat the behavior. This method, where a reward follows every instance of the behavior, is known as continuous reinforcement. It is highly effective for establishing new behaviors quickly.
Once a behavior is learned,...
Incentive Theory: Pull Theory of Motivation01:18

Incentive Theory: Pull Theory of Motivation

Incentive theory, or the "pull theory" of motivation, suggests that external rewards primarily drive behavior. Individuals are motivated to engage in activities when they anticipate a desirable outcome. This is why people often work hard for promotions or study intensively to achieve high grades. These incentives can be tangible, physical rewards such as money or promotions, or intangible, non-physical rewards like praise and social recognition.
The theory differentiates between intrinsic and...
Timing and Consequences on Behavior01:08

Timing and Consequences on Behavior

In operant conditioning, the timing of reinforcement is crucial. For animals like rats and cats, immediate reinforcement (within a few seconds) is much more effective than delayed reinforcement. For example, a food reward for a rat needs to follow within 30 seconds of pressing a bar to be effective. 
Humans, however, can respond to delayed reinforcers. We often make decisions between immediate small rewards and delayed larger rewards. This ability to delay gratification is a significant factor...
Expected Value01:15

Expected Value

The expected value is known as the "long-term" average or mean. This means that over the long term of experimenting over and over, you would expect this average. The expected average is represented by the symbol μ. It is calculated as follows:In the equation, x is an event, and P(x) is the probability of the event occurring.The expected value has practical applications in decision theory.This text is adapted from Openstax, Introductory Statistics, Section 4.2 Mean or Expected Value and...

You might also read

Related Articles

Articles linked to this work by shared authors, journal, and citation graph.

Sort by
Same author

Altruism, reciprocity, and probability: Examining relations through a discounting framework.

Behavioural processes·2024
Same author

Howard Rachlin: An extended scientist.

Journal of the experimental analysis of behavior·2022
Same author

Commodity discounting: Obstacles and solutions.

Psychology of addictive behaviors : journal of the Society of Psychologists in Addictive Behaviors·2022
Same author

The Evolution of Behavior Analysis: Toward a Replication Crisis?

Perspectives on behavior science·2020
Same author

The Effects of Obligatory and Preferential Frames on Delay Discounting.

The Analysis of verbal behavior·2020
Same author

A ratio scale for social distance.

Journal of the experimental analysis of behavior·2020

Related Experiment Video

Updated: May 22, 2026

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies
08:24

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies

Published on: August 25, 2023

Real and hypothetical rewards.

Matthew L Locey1, Bryan A Jones, Howard Rachlin

  • 1Stony Brook University.

Judgment and Decision Making
|May 15, 2012
PubMed
Summary
This summary is machine-generated.

Choices involving hypothetical monetary rewards closely mirror decisions made with real money. This suggests laboratory findings on decision-making are applicable to real-life scenarios, even with varying reward magnitudes.

More Related Videos

Studying Food Reward and Motivation in Humans
12:09

Studying Food Reward and Motivation in Humans

Published on: March 19, 2014

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
13:04

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods

Published on: September 19, 2012

Related Experiment Videos

Last Updated: May 22, 2026

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies
08:24

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies

Published on: August 25, 2023

Studying Food Reward and Motivation in Humans
12:09

Studying Food Reward and Motivation in Humans

Published on: March 19, 2014

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
13:04

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods

Published on: September 19, 2012

Area of Science:

  • Behavioral Economics
  • Cognitive Psychology
  • Decision Science

Background:

  • Laboratory studies often use hypothetical or small real monetary rewards for decision-making research.
  • Understanding how hypothetical reward magnitudes influence choices is crucial for applying lab findings to real-world situations.

Purpose of the Study:

  • To compare choices made with real versus hypothetical monetary rewards.
  • To investigate the impact of reward magnitude variation on decision-making behavior.

Main Methods:

  • Experiment 1: Temporal discounting game (Prisoner's Dilemma logic) with real and hypothetical rewards of varying magnitudes.
  • Experiment 2: Social discounting task comparing real and hypothetical rewards to assess value decrease with social distance.

Main Results:

  • Participants increased preference for larger, delayed rewards over time in both real and hypothetical conditions.
  • Hypothetical reward type (nickels vs. hundred-dollar bills) did not significantly alter cooperation rates.
  • Real and hypothetical rewards yielded comparable social discount rates, both described by a hyperbolic function.

Conclusions:

  • Hypothetical monetary rewards serve as valid proxies for real monetary rewards in decision-making studies.
  • Findings support the ecological validity of using hypothetical rewards in behavioral economic research.