Is the Evidence for Hyperbolic Discounting in Humans just an Experimental Artefact?

Glenn W. Harrison, Morten Lau

Research output: Contribution to journalComment/debateResearchpeer-review

Abstract

We question the behavioral premise underlying Ainslie's claims about hyperbolic discounting theory. The alleged evidence for humans can be easily explained as an artefact of experimental procedures that do not control for the credibility of payment over different time horizons. In appropriately controlled and financially motivated settings, human behavior is consistent with conventional exponential preferences.
Original languageEnglish
JournalBehavioral and Brain Sciences
Volume28
Issue number5
Pages (from-to)657
ISSN0140-525X
Publication statusPublished - 2005
Externally publishedYes

Cite this

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title = "Is the Evidence for Hyperbolic Discounting in Humans just an Experimental Artefact?",
abstract = "We question the behavioral premise underlying Ainslie's claims about hyperbolic discounting theory. The alleged evidence for humans can be easily explained as an artefact of experimental procedures that do not control for the credibility of payment over different time horizons. In appropriately controlled and financially motivated settings, human behavior is consistent with conventional exponential preferences.",
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journal = "Behavioral and Brain Sciences",
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Is the Evidence for Hyperbolic Discounting in Humans just an Experimental Artefact? / Harrison, Glenn W.; Lau, Morten.

In: Behavioral and Brain Sciences, Vol. 28, No. 5, 2005, p. 657.

Research output: Contribution to journalComment/debateResearchpeer-review

TY - JOUR

T1 - Is the Evidence for Hyperbolic Discounting in Humans just an Experimental Artefact?

AU - Harrison, Glenn W.

AU - Lau, Morten

PY - 2005

Y1 - 2005

N2 - We question the behavioral premise underlying Ainslie's claims about hyperbolic discounting theory. The alleged evidence for humans can be easily explained as an artefact of experimental procedures that do not control for the credibility of payment over different time horizons. In appropriately controlled and financially motivated settings, human behavior is consistent with conventional exponential preferences.

AB - We question the behavioral premise underlying Ainslie's claims about hyperbolic discounting theory. The alleged evidence for humans can be easily explained as an artefact of experimental procedures that do not control for the credibility of payment over different time horizons. In appropriately controlled and financially motivated settings, human behavior is consistent with conventional exponential preferences.

M3 - Comment/debate

VL - 28

SP - 657

JO - Behavioral and Brain Sciences

JF - Behavioral and Brain Sciences

SN - 0140-525X

IS - 5

ER -