Variable Details

Available Studies

MAP, MARS, Clinical Core

Scaled? 

Not Scaled

Variable Type 

Longitudinal

Variable Name 

small_alpha

Categories

Decision Making and Behavioral Economics, Affect and Personality

Temporal discounting - small stakes
Temporal discounting tendency for small stakes

Temporal discounting rate - small stakes is a measure of the tendency to discount future rewards and take an immediate but smaller payoff over waiting for a later but larger one. Temporal discounting tendency was estimated for both large and small stakes--this is the small stakes variable (i.e., the questions refer to smaller amounts of money). The current payment is fixed at $10 and the delay period is fixed at one month for all questions. Higher score means less likely to wait for a later but larger reward.

To estimate the subject specific discounting rate, we use a well-established hyperbolic function based on the odds of choosing the delayed reward over the immediate reward at different values. See reference for details.

Participants are asked the following questions:

Would you prefer $10 in cash right now or [insert 1-7 from below] in a month?

  1. $14
  2. $20
  3. $15
  4. $11
  5. $18
  6. $13
  7. $30

Publications