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Examining the Description-Experienced Gap in Time Discounting and its Possible Mechanisms

Xu, Ping
http://rave.ohiolink.edu/etdc/view?acc_num=ohiou1515169385935458

Abstract Details

2018, Doctor of Philosophy (PhD), Ohio University, Experimental Psychology (Arts and Sciences).
In risky choice literature, decisions differ if based on described versus experienced risk information. This phenomenon is called the description-experienced gap (the DE gap). The DE gap is considered to be related to distinctive cognitive processes which are triggered by different presentation formats of the task. The DE gap has not been explored in the inter-temporal choice domain. Typical time discounting studies ask participants to choose between a large, long-delayed reward and a smaller, short-delayed (or immediate) reward presenting all of the relevant information in symbolic, descriptive forms. In these traditional tasks, delays are usually imagined rather than experienced by participants. In the present study, a new experienced paradigm is constructed and together with a description task, is used to explore possible DE gaps in time discounting. Two studies explore DE gaps in inter-temporal choice using a hyperbolic discounting model which separates order effect, time perception, and delay processes. Study 1 focuses on understanding the magnitude effect (i.e., higher discounting with small values) and DE gaps between the tasks due to different processes as reflected by key model parameters. Using the same strategy, Study 2 focuses on the sign-effect (i.e., different discounting for gains and losses). Results showed that people discounted more in the experienced tasks than in the description tasks. Analysis of estimated parameters revealed that people perceived the same length of time as longer in the experienced tasks than in the description tasks. In addition, participants in the experienced task were more easily influenced by the presentation order, that is, people were less likely to wait in later trials compared to earlier trials. Interestingly, both studies found that the parameter k which represented people’s ability of self-control was lower in the experienced tasks than in the description tasks, meaning that participants exerted stronger self-control in the experienced tasks than in the description tasks. Magnitude effect was neither observed in the experienced tasks nor the description tasks. However, participants perceived the same length of time as longer in the larger magnitude conditions than those in the smaller magnitude conditions. Sign effect was observed in both experienced tasks and description tasks. Yet, the causes of sign effect were not clear and seems differ between the two paradigms. In addition, Correlation analysis revealed that parameter k (after factoring out order effect and time perception) was positively correlated with preference reversals, meaning that k was a valid measure of self-control. Other meaningful correlations were also observed from the behavioral tasks. However, self-reported impulsivity was not correlated with any variable derived from the behavioral time discounting tasks. Implications of these results to time discounting literature, time perception literature were discussed.
Claudia Gonzalez-Vallejo (Advisor)
Jeff Vancouver (Committee Member)
Bruce Carlson (Committee Member)
Keithe Markman (Committee Member)
Glenn Dutcher (Committee Member)
173 p.
Behavioral Psychology; Cognitive Psychology; Psychology
DE gap; Time discounting; Experience time discounting; Magnitude effect; sign effect; Time perception

Recommended Citations

Citations

  • Xu, P. (2018). Examining the Description-Experienced Gap in Time Discounting and its Possible Mechanisms [Doctoral dissertation, Ohio University]. OhioLINK Electronic Theses and Dissertations Center. http://rave.ohiolink.edu/etdc/view?acc_num=ohiou1515169385935458

    APA Style (7th edition)

  • Xu, Ping. Examining the Description-Experienced Gap in Time Discounting and its Possible Mechanisms. 2018. Ohio University, Doctoral dissertation. OhioLINK Electronic Theses and Dissertations Center, http://rave.ohiolink.edu/etdc/view?acc_num=ohiou1515169385935458.

    MLA Style (8th edition)

  • Xu, Ping. "Examining the Description-Experienced Gap in Time Discounting and its Possible Mechanisms." Doctoral dissertation, Ohio University, 2018. http://rave.ohiolink.edu/etdc/view?acc_num=ohiou1515169385935458

    Chicago Manual of Style (17th edition)

ohiou1515169385935458
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This open access ETD is published by Ohio University and OhioLINK.