2020
DOI: 10.1002/jeab.600
|View full text |Cite
|
Sign up to set email alerts
|

Addendum to Killeen's (2019) Bidding for Delayed Rewards

Abstract: Killeen (2019) portrayed an intimate relation between diverse economic indices, in particular compensation functions, discount functions, and demand functions. The article bemused some experts, however, by its counterintuitive prediction of an increase in the amount bid as the delay increased. Furthermore, the article failed to provide an explicit treatment of the small-soon versus large-late choice paradigm, to cite several papers that provided precedent for the current work, and to demonstrate the adequacy o… Show more

Help me understand this report

Search citation statements

Order By: Relevance

Paper Sections

Select...
1
1
1
1

Citation Types

0
5
0

Year Published

2022
2022
2024
2024

Publication Types

Select...
5

Relationship

3
2

Authors

Journals

citations
Cited by 5 publications
(5 citation statements)
references
References 51 publications
0
5
0
Order By: Relevance
“…Look familiar? This is the classic “hyperbolic” relative value found with non‐human animals in delay discounting tasks (Killeen, 2019a, 2020)—Equation 3 with λ and ε = 1. The rats were bidding on future payoffs (Kirby, 1997), specifying the amount of food it would take to justify their time investment to collect it.…”
Section: Classic Schedulesmentioning
confidence: 71%
“…Look familiar? This is the classic “hyperbolic” relative value found with non‐human animals in delay discounting tasks (Killeen, 2019a, 2020)—Equation 3 with λ and ε = 1. The rats were bidding on future payoffs (Kirby, 1997), specifying the amount of food it would take to justify their time investment to collect it.…”
Section: Classic Schedulesmentioning
confidence: 71%
“…This is not the first proposal to rectify the hyperbola. Killeen (2019Killeen ( , 2020 inverted Equation 1 and fit linear regressions to the results, treating them as predicting the amount by which a remote good would need to be incremented to generate parity with the more proximal one. Berk et al (2021) inverted Equation 2and rearranged it so that the ratio of the value lost due to its delay to the value preserved despite its delay, which they labeled the "immediacy premium," was on one side.…”
Section: Discussion and Summarymentioning
confidence: 99%
“…Replace r in Equation 2 with 1/ d and simplify, and it comes to look very much like Equation 3 (see Killeen, 2020, p. 685). De Villiers and Herrnstein (1976) used such a reinterpreted version of Equation 2 to successfully predict the effect of delayed reinforcement on response latency, speed, and response rate in five published experiments.…”
Section: Mazur's Hyperbolamentioning
confidence: 99%
“…To test this, I increased the cost of moving to the hopper by shifting it up to 8 ft (2.44 m) away from the lever. The rats increased their accumulation of pellets as a linear function of the distance (Killeen, 2019b, 2020; Equation 12 below). Eventually, another light went on.…”
Section: Linearization Of the Functionsmentioning
confidence: 99%