Area under the curve as a measure of discounting.

by: J Myerson, L Green, M Warusawitharana

J Exp Anal Behav, Vol. 76, No. 2. (September 2001), pp. 235-243.

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Abstract

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.

@article{citeulike:1648396, abstract = {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.}, address = {Department of Psychology, Washington University, Saint Louis, Missouri 63130, USA. jmyerson@artsci.wustl.edu}, author = {Myerson, J. and Green, L. and Warusawitharana, M. }, citeulike-article-id = {1648396}, doi = {10.1901/jeab.2001.76-235}, issn = {0022-5002}, journal = {J Exp Anal Behav}, keywords = {choicebehavior, discounting, human, neuroeconomics, technique}, month = {September}, number = {2}, pages = {235--243}, posted-at = {2007-09-12 16:42:27}, priority = {2}, title = {Area under the curve as a measure of discounting.}, url = {http://dx.doi.org/10.1901/jeab.2001.76-235}, volume = {76}, year = {2001} }

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TY - JOUR ID - citeulike:1648396 L3 - citeulike-article-id:1648396 TI - Area under the curve as a measure of discounting. JF - J Exp Anal Behav VL - 76 IS - 2 SP - 235 EP - 243 AD - Department of Psychology, Washington University, Saint Louis, Missouri 63130, USA. jmyerson@artsci.wustl.edu SN - 0022-5002 N2 - 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. KW - choicebehavior KW - discounting KW - human KW - neuroeconomics KW - technique AU - Myerson, J AU - Green, L AU - Warusawitharana, M PY - 2001/09// UR - http://dx.doi.org/10.1901/jeab.2001.76-235 ER -

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