The Value of Emotion: How Does Episodic Prospection Modulate Delay Discounting?

The Value of Emotion: How Does Episodic Prospection Modulate Delay Discounting?

BACKGROUND Humans often show impatience when making intertemporal choice for monetary rewards, preferring small rewards delivered immediately to larger rewards delivered after a delay, which reflects a fundamental psychological principle: delay discounting. However, we propose that episodic prospection humans can vividly envisage exerts a strong and broad influence on individuals' delay discoun...

The Value of Foresight: How Prospection Affects Decision-Making

Traditional theories of decision-making assume that utilities are based on the intrinsic value of outcomes; in turn, these values depend on associations between expected outcomes and the current motivational state of the decision-maker. This view disregards the fact that humans (and possibly other animals) have prospection abilities, which permit anticipating future mental processes and motivat...

MODELING DELAY DISCOUNTING 1 Modeling Choices in Delay Discounting

Delay discounting: Pigeon, rat, human--does it matter?

Delay discounting refers to the decrease in subjective value of an outcome as the time to its receipt increases. Across species and situations, animals discount delayed rewards, and their discounting is well-described by a hyperboloid function. The current review begins with a comparison of discounting models and the procedures used to assess delay discounting in nonhuman animals. We next discu...

A Reduction in Delay Discounting by Using Episodic Future Imagination and the Association with Episodic Memory Capacity

Delay discounting (DD) refers to the phenomenon that individuals discount future consequences. Previous studies showed that future imagination reduces DD, which was mediated by functional connectivity between medial prefrontal valuation areas and a key region for episodic memory (hippocampus). Future imagination involves an initial period of construction and a later period of elaboration, with ...