Amount of reward has opposite effects on the discounting of delayed and probabilistic outcomes.

Green, Leonard, Myerson, Joel, Ostaszewski, Pawel·1999·Journal of Experimental Psychology: Learning, Memory, and Cognition
DOI 10.1037//0278-7393.25.2.418

Abstract

Previous research has shown that the value of large future rewards is discounted less steeply than is the value of small future rewards. These experiments extended this line of research to probabilistic rewards. Two experiments replicated the standard findings for delayed rewards but demonstrated that amount has an opposite effect on the discounting of probabilistic rewards. That is, large probabilistic amounts were discounted at the same or higher rates than small amounts. Although amount had opposite effects on the discounting of delayed and probabilistic rewards, nevertheless, the same form of mathematical function accurately described discounting of both types of reward. The findings suggest that fundamentally similar, but not identical, processes are involved in decision making regarding delayed and probabilistic rewards. The implications of these findings for impulsivity and self-control are discussed.

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Cited by (20)

  1. A Discounting Framework for Choice With Delayed and Probabilistic Rewards.
    Green, Leonard, Myerson, Joel · 2004 · Psychological Bulletin
  2. AREA UNDER THE CURVE AS A MEASURE OF DISCOUNTING
    Myerson, Joel, Green, Leonard, Warusawitharana, Missaka · 2001 · Journal of the Experimental Analysis of Behavior
  3. WITHIN‐SUBJECT COMPARISON OF REAL AND HYPOTHETICAL MONEY REWARDS IN DELAY DISCOUNTING
    Johnson, Matthew W., Bickel, Warren K. · 2002 · Journal of the Experimental Analysis of Behavior
  4. Delay discounting in current and never-before cigarette smokers: Similarities and differences across commodity, sign, and magnitude.
    Baker, Forest, Johnson, Matthew W., Bickel, Warren K. · 2003 · Journal of Abnormal Psychology
  5. Cross-Cultural Comparisons of Discounting Delayed and Probabilistic Rewards
    Du, Wanjiang, Green, Leonard, Myerson, Joel · 2002 · The Psychological Record

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CoChat. (2026). Citation check: Amount of reward has opposite effects on the discounting of delayed and probabilistic outcomes. https://app.cochat.ai/papers/10.1037//0278-7393.25.2.418
The paper
Green, L., Myerson, J., & Ostaszewski, P. (1999). Amount of reward has opposite effects on the discounting of delayed and probabilistic outcomes. Journal of Experimental Psychology: Learning, Memory, and Cognition. https://doi.org/10.1037//0278-7393.25.2.418

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