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Updated: Jun 28, 2025
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Measuring Delay Discounting in Humans Using an Adjusting Amount Task
Published on: January 9, 2016
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Age-related differences in delay discounting: Income matters
Haoran Wan1, Joel Myerson1, Leonard Green1
1Department of Psychological and Brain Sciences, Washington University in St. Louis.
Psychology and Aging
|April 22, 2024
Summary
Lower income younger adults show steeper discounting of delayed rewards compared to older adults. Higher income groups show no age-related differences, supporting a buffering hypothesis related to income scarcity and emotional stability.
Area of Science:
- Cognitive Psychology
- Behavioral Economics
- Neuroscience
Background:
- Previous meta-analyses found no age-related differences in delayed reward discounting.
- The impact of socioeconomic factors, specifically income, on age-related discounting was not previously examined.
- Income scarcity may act as a stressor influencing decision-making under delay.
Purpose of the Study:
- To investigate age-related differences in delayed reward discounting across varying household income levels.
- To test the buffering hypothesis, suggesting emotional stability mitigates stress from income scarcity.
- To compare discounting behavior between younger (35-50) and older (65-80) adults with low (<$50,000) and high (>$80,000) incomes.
Main Methods:
- Utilized two established discounting procedures: the Monetary Choice Questionnaire and the Adjusting-Amount procedure.
- Recruited younger and older adult participants stratified by household income.
- Statistically controlled for distress levels in lower-income groups to assess its moderating effect.
Main Results:
- Younger adults with lower incomes discounted delayed rewards more steeply than older adults with lower incomes.
- No significant age-related differences in discounting were found for higher-income groups.
- Controlling for distress eliminated the age-related discounting difference in lower-income groups.
Conclusions:
- Income level significantly moderates age-related differences in delayed reward discounting.
- The buffering hypothesis is supported: emotional stability may mitigate the impact of income scarcity-related stress on discounting.
- Findings highlight the interplay of age, income, and psychological factors in economic decision-making.
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