Studies of animal impulsivity generally find steep subjective devaluation, or discounting, of delayed rewards - often on the order of a 50% reduction in value in a few seconds. Because such steep discounting is highly disfavored in evolutionary models of time preference, we hypothesize that discounting tasks provide a poor measure of animals' true time preferences. One prediction of this hypoth...

E xchange rate is an important factor influencing price indices of exported goods of a country in different ways. Imported intermediate commodity is one of the important ways by which the change in exchange rate affects price indices of the exported goods. Using the input-output table of Iran for the year 2001, this paper investigates the impact of exchange rate devaluation on price ...

Under the guise of an experiment on the perception of emotional cues, 72 undergraduate female Ss observed a peer (victim) participating in a pairedassociate learning task. The victim, as a result of making the usual errors, appeared to receive severe and painful electric shocks (negative reinforcement). In describing the suffering victim after these observations, Ss rejected and devalued her wh...

This paper estimates a new open economy macroeconomic model for South Korea to determine the output effect of currency devaluations. Three transmission mechanisms are considered: the expenditure-switching, the balance sheet, and a monetary channel associated to a nominal exchange rate target. Devaluations are defined as an increase in this target. This allows to isolate the effects of explicit ...

Response strategy in the dual-solution plus maze is regarded as a form of stimulus-response learning. In this study, by using an outcome devaluation procedure, we show that it can be based on both action-outcome and stimulus-response habit learning, depending on the amount of training that the animals receive. Furthermore, we show that deactivation of the dorso-medial and the dorso-lateral stri...