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Green, Leonard; Myerson, Joel – Psychological Bulletin, 2004
When choosing between delayed or uncertain outcomes, individuals discount the value of such outcomes on the basis of the expected time to or the likelihood of their occurrence. In an integrative review of the expanding experimental literature on discounting, the authors show that although the same form of hyperbola-like function describes…
Descriptors: Value Judgment, Decision Making, Probability, Evaluation Methods