Discounting in Economic Evaluations.

PubMed

Attema, Arthur E; Brouwer, Werner B F; Claxton, Karl

2018-05-19

Appropriate discounting rules in economic evaluations have received considerable attention in the literature and in national guidelines for economic evaluations. Rightfully so, as discounting can be quite influential on the outcomes of economic evaluations. The most prominent controversies regarding discounting involve the basis for and height of the discount rate, whether costs and effects should be discounted at the same rate, and whether discount rates should decline or stay constant over time. Moreover, the choice for discount rules depends on the decision context one adopts as the most relevant. In this article, we review these issues and debates, and describe and discuss the current discounting recommendations of the countries publishing their national guidelines. We finish the article by proposing a research agenda.

Normative arguments from experts and peers reduce delay discounting.

PubMed

Senecal, Nicole; Wang, Teresa; Thompson, Elizabeth; Kable, Joseph W

2012-09-01

When making decisions that involve tradeoffs between the quality and timing of desirable outcomes, people consistently discount the value of future outcomes. A puzzling finding regarding such decisions is the extremely high rate at which people discount future monetary outcomes. Most economists would argue that decision-makers should only turn down rates of return that are lower than those available to them elsewhere. Yet the vast majority of studies find discount rates that are significantly higher than market interest rates (Frederick et al., 2002). Here we ask whether a lack of knowledge about the normative strategy can explain high discount rates. In an initial experiment, we find that nearly half of subjects do not spontaneously cite elements of the normative strategy when asked how people should make intertemporal monetary decisions. In two follow-up experiments, we find that after subjects read a "financial guide" detailing the normative strategy, discount rates declined by up to 85%, but were still higher than market interest rates. This decline persisted, though attenuated, for at least one month. In a final experiment, we find that peer-generated advice influences discount rates in a similar manner to "expert" advice, and that arguments focusing on normative considerations are at least as effective as others. These studies show that part of the explanation for high discount rates is a lack of knowledge regarding the normative strategy, and quantify how much discount rates are reduced in response to normative arguments. Given the high level of discounting that remains, however, there are other contributing factors to high discount rates that remain to be quantified.

Normative arguments from experts and peers reduce delay discounting

PubMed Central

Senecal, Nicole; Wang, Teresa; Thompson, Elizabeth; Kable, Joseph W

2013-01-01

When making decisions that involve tradeoffs between the quality and timing of desirable outcomes, people consistently discount the value of future outcomes. A puzzling finding regarding such decisions is the extremely high rate at which people discount future monetary outcomes. Most economists would argue that decision-makers should only turn down rates of return that are lower than those available to them elsewhere. Yet the vast majority of studies find discount rates that are significantly higher than market interest rates (Frederick et al., 2002). Here we ask whether a lack of knowledge about the normative strategy can explain high discount rates. In an initial experiment, we find that nearly half of subjects do not spontaneously cite elements of the normative strategy when asked how people should make intertemporal monetary decisions. In two follow-up experiments, we find that after subjects read a “financial guide” detailing the normative strategy, discount rates declined by up to 85%, but were still higher than market interest rates. This decline persisted, though attenuated, for at least one month. In a final experiment, we find that peer-generated advice influences discount rates in a similar manner to “expert” advice, and that arguments focusing on normative considerations are at least as effective as others. These studies show that part of the explanation for high discount rates is a lack of knowledge regarding the normative strategy, and quantify how much discount rates are reduced in response to normative arguments. Given the high level of discounting that remains, however, there are other contributing factors to high discount rates that remain to be quantified. PMID:23596504

78 FR 67393 - Change in Discount Rate for Water Resources Planning

Federal Register 2010, 2011, 2012, 2013, 2014

2013-11-12

... Discount Rate for Water Resources Planning AGENCY: Bureau of Reclamation, Interior. ACTION: Notice of change. SUMMARY: The Water Resources Planning Act of 1965 and the Water Resources Development Act of 1974 require an annual determination of a discount rate for Federal water resources planning. The discount rate...

Measuring Impatience in Intertemporal Choice

PubMed Central

2016-01-01

In general terms, decreasing impatience means decreasing discount rates. This property has been usually referred to as hyperbolic discounting, although there are other discount functions which also exhibit decreasing discount rates. This paper focuses on the measurement of the impatience associated with a discount function with the aim of establishing a methodology to compare this characteristic for two different discount functions. In this way, first we define the patience associated with a discount function in an interval as its corresponding discount factor and consequently we deduce that the impatience at a given moment is the corresponding instantaneous discount rate. Second we compare the degree of impatience of discount functions belonging to the same or different families, by considering the cases in which the functions do or do not intersect. PMID:26890895

Changing delay discounting in the light of the competing neurobehavioral decision systems theory: a review.

PubMed

Koffarnus, Mikhail N; Jarmolowicz, David P; Mueller, E Terry; Bickel, Warren K

2013-01-01

Excessively devaluing delayed reinforcers co-occurs with a wide variety of clinical conditions such as drug dependence, obesity, and excessive gambling. If excessive delay discounting is a trans-disease process that underlies the choice behavior leading to these and other negative health conditions, efforts to change an individual's discount rate are arguably important. Although discount rate is often regarded as a relatively stable trait, descriptions of interventions and environmental manipulations that successfully alter discount rate have begun to appear in the literature. In this review, we compare published examples of procedures that change discount rate and classify them into categories of procedures, including therapeutic interventions, direct manipulation of the executive decision-making system, framing effects, physiological state effects, and acute drug effects. These changes in discount rate are interpreted from the perspective of the competing neurobehavioral decision systems theory, which describes a combination of neurological and behavioral processes that account for delay discounting. We also suggest future directions that researchers could take to identify the mechanistic processes that allow for changes in discount rate and to test whether the competing neurobehavioral decision systems view of delay discounting is correct. © Society for the Experimental Analysis of Behavior.

Changing Delay Discounting in the Light of the Competing Neurobehavioral Decision Systems Theory: a Review

PubMed Central

Koffarnus, Mikhail N.; Jarmolowicz, David P.; Mueller, E. Terry; Bickel, Warren K.

2014-01-01

Excessively devaluing delayed reinforcers co-occurs with a wide variety of clinical conditions such as drug dependence, obesity, and excessive gambling. If excessive delay discounting is a trans-disease process that underlies the choice behavior leading to these and other negative health conditions, efforts to change an individual’s discount rate are arguably important. Although discount rate is often regarded as a relatively stable trait, descriptions of interventions and environmental manipulations that successfully alter discount rate have begun to appear in the literature. In this review, we compare published examples of procedures that change discount rate and classify them into categories of procedures, including therapeutic interventions, direct manipulation of the executive decision-making system, framing effects, physiological state effects, and acute drug effects. These changes in discount rate are interpreted from the perspective of the competing neurobehavioral decision systems theory, which describes a combination of neurological and behavioral processes that account for delay discounting. We also suggest future directions that researchers could take to identify the mechanistic processes that allow for changes in discount rate and to test whether the competing neurobehavioral decision systems view of delay discounting is correct. PMID:23344987

Domain independence and stability in young and older adults' discounting of delayed rewards

PubMed Central

Jimura, Koji; Myerson, Joel; Hilgard, Joseph; Keighley, Julia; Braver, Todd S.; Green, Leonard

2011-01-01

Individual discounting rates for different types of delayed reward are typically assumed to reflect a single, underlying trait of impulsivity. Recently, we showed that discounting rates are orders of magnitude steeper for directly consumable liquid rewards than for monetary rewards (Jimura et al. 2009), raising the question of whether discounting rates for different types of reward covary at the individual level. Accordingly, the present study examined the relation between discounting of hypothetical money and real liquid rewards in young adults (Experiment 1) and older adults (Experiment 2). At the group level, young adults discounted monetary rewards more steeply than the older adults, but the reverse pattern was observed with liquid rewards. At the individual level, the rates at which young and older participants discounted each reward type were stable over a two- to fifteen-week interval (rs >.70), but there was no significant correlation between the rates at which they discounted the two reward types. These results suggest that although similar decision-making processes may underlie the discounting of different types of rewards, the rates at which individuals discount money and directly consumable rewards may reflect separate, stable traits, rather than a single trait of impulsivity. PMID:21550384

Heroin addicts have higher discount rates for delayed rewards than non-drug-using controls.

PubMed

Kirby, K N; Petry, N M; Bickel, W K

1999-03-01

Fifty-six heroin addicts and 60 age-matched controls were offered choices between monetary rewards ($11-$80) available immediately and larger rewards ($25-$85) available after delays ranging from 1 week to 6 months. Participants had a 1-in-6 chance of winning a reward that they chose on one randomly selected trial. Delay-discounting rates were estimated from the pattern of participants' choices. The discounting model of impulsiveness (Ainslie, 1975) implies that delay-discounting rates are positively correlated with impulsiveness. On average, heroin addicts' discount rates were twice those of controls (p = .004), and discount rates were positively correlated with impulsivity as measured by self-report questionnaires (p < .05). The results lend external validity to the delay-discounting rate as a measure of impulsiveness, a characteristic associated with substance abuse.

Monetary delay discounting in gambling and cocaine dependence with personality comorbidities.

PubMed

Albein-Urios, Natalia; Martinez-González, José M; Lozano, Oscar; Verdejo-Garcia, Antonio

2014-11-01

Cocaine addiction and pathological gambling are commonly associated with steeper (impulsive) discounting of delayed rewards, which promotes ongoing drug and gambling behaviors. However, it is yet unclear whether impulsive delay discounting is a stable trait in cocaine and gambling disorders during abstinence, and whether it is significantly impacted by dysfunctional personality beliefs. The aim of this study was to compare the delay discounting rates of four groups: 47 cocaine users with comorbid personality disorders, 41 cocaine users without psychiatric comorbidities, 28 pathological gamblers without psychiatric comorbidities, and 36 healthy comparison individuals. We also examined the association between dysfunctional personality beliefs and delay discounting rates. Participants completed the Kirby Delay Discounting Questionnaire and the Beck Personality Belief Questionnaire as part of a larger battery. We used non-parametric tests to compare discounting rates between the groups, and bivariate correlation analyses to examine the association between beliefs and discounting rates within each of the groups. We found that discounting rates were significantly higher in individuals with disordered gambling compared to controls. Specifically in cocaine users with Cluster B personality disorders, higher discounting rates were associated with the intensity of "dependent" dysfunctional beliefs (e.g., "I am needy and weak"). Conclusion:We conclude that impulsive delay discounting is increased in gambling relative to controls and linked to personality beliefs in cocaine users with Cluster B personality disorders. Copyright © 2014 Elsevier Ltd. All rights reserved.

76 FR 39278 - Modification of Treasury Regulations Pursuant to Section 939A of the Dodd-Frank Wall Street...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-07-06

... adjustment implicit in the yield curve used to discount the present value of the cash flows. This adjustment... valuation date, X determines a mid-market probability distribution of future cash flows under the derivatives and computes the present values of these cash flows. In computing these present values, X uses an...

Decision-Making, Tacit Knowledge, and Motivation in Semi-Professional Practice: Humanizing the Environment through Anthropomorphism in Clinical Laboratory Science

ERIC Educational Resources Information Center

Mortier, Teresa

2017-01-01

The clinical laboratory science field requires an abundance of technical knowledge; however, the importance of implicit or tacit knowledge gained through observation and practice is often discounted in this field, even though it is a critical part of reflective thinking, critical thinking, and reflective practice. The "de-skilling" of…

Domain independence and stability in young and older adults' discounting of delayed rewards.

PubMed

Jimura, Koji; Myerson, Joel; Hilgard, Joseph; Keighley, Julia; Braver, Todd S; Green, Leonard

2011-07-01

Individual discounting rates for different types of delayed reward are typically assumed to reflect a single, underlying trait of impulsivity. Recently, we showed that discounting rates are orders of magnitude steeper for directly consumable liquid rewards than for monetary rewards (Jimura et al., 2009), raising the question of whether discounting rates for different types of reward covary at the individual level. Accordingly, the present study examined the relation between discounting of hypothetical money and real liquid rewards in young adults (Experiment 1) and older adults (Experiment 2). At the group level, young adults discounted monetary rewards more steeply than the older adults, but there was no significant age difference with respect to liquid rewards. At the individual level, the rates at which young and older participants discounted each reward type were stable over a two- to fifteen-week interval (rs>70), but there was no significant correlation between the rates at which they discounted the two reward types. These results suggest that although similar decision-making processes may underlie the discounting of different types of rewards, the rates at which individuals discount money and directly consumable rewards may reflect separate, stable traits, rather than a single trait of impulsivity. Copyright © 2011 Elsevier B.V. All rights reserved.

Temporal discounting rates and their relation to exercise behavior in older adults.

PubMed

Tate, Linda M; Tsai, Pao-Feng; Landes, Reid D; Rettiganti, Mallikarjuna; Lefler, Leanne L

2015-12-01

As our nation's population ages, the rates of chronic illness and disability are expected to increase significantly. Despite the knowledge that exercise may prevent chronic disease and promote health among older adults, many still are inactive. Factors related to exercise behaviors have been explored in recent years. However, temporal discounting is a motivational concept that has not been explored in regard to exercise in older adults. Temporal discounting is a decision making process by which an individual chooses a smaller more immediate reward over a larger delayed reward. The aim of this study was to determine if temporal discounting rates vary between exercising and non-exercising older adults. This study used cross-sectional survey of 137 older adults living in the community. Older adults were recruited from 11 rural Arkansas churches. The Kirby delay-discounting Monetary Choice Questionnaire was used to collect discounting rates and then bivariate analysis was performed to compare temporal discounting rate between the exercisers and non-exercisers. Finally, multivariate analysis was used to compare discounting rate controlling for other covariates. The results indicated that exercising older adults display lower temporal discounting rates than non-exercising older adults. After controlling for education, exercisers still have lower temporal discounting rates than non-exercisers (p<0.001). These findings are important as several chronic health conditions relate to lack of exercise especially in older adults. This research suggests that if we can find appropriate incentives for discounting individuals, some type of immediate reward, then potentially we can design programs to engage and retain older adults in exercise. Copyright © 2015 Elsevier Inc. All rights reserved.

On discounting of health gains from human papillomavirus vaccination: effects of different approaches.

PubMed

Westra, Tjalke A; Parouty, Mehraj; Brouwer, Werner B; Beutels, Philippe H; Rogoza, Raina M; Rozenbaum, Mark H; Daemen, Toos; Wilschut, Jan C; Boersma, Cornelis; Postma, Maarten J

2012-05-01

Discounting has long been a matter of controversy in the field of health economic evaluations. How to weigh future health effects has resulted in ongoing discussions. These discussions are imminently relevant for health care interventions with current costs but future benefits. Different approaches to discount health effects have been proposed. In this study, we estimated the impact of different approaches for discounting health benefits of human papillomavirus (HPV) vaccination. An HPV model was used to estimate the impact of different discounting approaches on the present value of health effects. For the constant discount approaches, we varied the discount rate for health effects ranging from 0% to 4%. Next, the impact of relevant alternative discounting approaches was estimated, including hyperbolic, proportional, stepwise, and time-shifted discounting. The present value of health effects gained through HPV vaccination varied strongly when varying discount rates and approaches. The application of the current Dutch guidelines resulted in a present value of health effects that was eight or two times higher than that produced when using the proportional discounting approach or when using the internationally more common 4% discount rate for health effects, respectively. Obviously, such differences translate into large variations in corresponding incremental cost-effectiveness ratios. The exact discount rate and approach chosen in an economic evaluation importantly impact the projected value of health benefits of HPV vaccination. Investigating alternative discounting approaches in health-economic analysis is important, especially for vaccination programs yielding health effects far into the future. Our study underlines the relevance of ongoing discussions on how and at what rates to discount. Copyright © 2012 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

31 CFR 356.21 - How are awards at the high yield or discount rate calculated?

Code of Federal Regulations, 2010 CFR

2010-07-01

... discount rate calculated? 356.21 Section 356.21 Money and Finance: Treasury Regulations Relating to Money... high yield or discount rate calculated? (a) Awards to submitters. We generally prorate bids at the highest accepted yield or discount rate under § 356.20(a)(2) of this part. For example, if 80.15% is the...

Life cycle costing with a discount rate

NASA Technical Reports Server (NTRS)

Posner, E. C.

1978-01-01

This article studies life cycle costing for a capability needed for the indefinite future, and specifically investigates the dependence of optimal policies on the discount rate chosen. The two costs considered are reprocurement cost and maintenance and operations (M and O) cost. The procurement price is assumed known, and the M and O costs are assumed to be a known function, in fact, a non-decreasing function, of the time since last reprocurement. The problem is to choose the optimum reprocurement time so as to minimize the quotient of the total cost over a reprocurement period divided by the period. Or one could assume a discount rate and try to minimize the total discounted costs into the indefinite future. It is shown that the optimum policy in the presence of a small discount rate hardly depends on the discount rate at all, and leads to essentially the same policy as in the case in which discounting is not considered.

Can we use human judgments to determine the discount rate?

PubMed

Baron, J

2000-12-01

It has been suggested that the long-term discount rate for environmental goods should decrease at longer delays. One justification for this suggestion is that human judgments support it. This article presents an experiment showing that judgments concerning discount rates are internally inconsistent. These results point to potential problems with the use of judgments referenda for determining discount rates in cost-benefit analyses.

Harnessing the uncertainty monster: Putting quantitative constraints on the intergenerational social discount rate

NASA Astrophysics Data System (ADS)

Lewandowsky, Stephan; Freeman, Mark C.; Mann, Michael E.

2017-09-01

There is broad consensus among economists that unmitigated climate change will ultimately have adverse global economic consequences, that the costs of inaction will likely outweigh the cost of taking action, and that social planners should therefore put a price on carbon. However, there is considerable debate and uncertainty about the appropriate value of the social discount rate, that is the extent to which future damages should be discounted relative to mitigation costs incurred now. We briefly review the ethical issues surrounding the social discount rate and then report a simulation experiment that constrains the value of the discount rate by considering 4 sources of uncertainty and ambiguity: Scientific uncertainty about the extent of future warming, social uncertainty about future population and future economic development, political uncertainty about future mitigation trajectories, and ethical ambiguity about how much the welfare of future generations should be valued today. We compute a certainty-equivalent declining discount rate that accommodates all those sources of uncertainty and ambiguity. The forward (instantaneous) discount rate converges to a value near 0% by century's end and the spot (horizon) discount rate drops below 2% by 2100 and drops below previous estimates by 2070.

Time-discounting and tobacco smoking: a systematic review and network analysis

PubMed Central

Barlow, Pepita; McKee, Martin; Reeves, Aaron; Galea, Gauden; Stuckler, David

2017-01-01

Abstract Background: Tobacco smoking harms health, so why do people smoke and fail to quit? An explanation originating in behavioural economics suggests a role for time-discounting, which describes how the value of a reward, such as better health, decreases with delay to its receipt. A large number of studies test the relationship of time-discounting with tobacco outcomes but the temporal pattern of this relationship and its variation according to measurement methods remain unclear. We review the association between time-discounting and smoking across (i) the life course, from initiation to cessation, and (ii) diverse discount measures. Methods: We identified 69 relevant studies in Web of Science and PubMed. We synthesized findings across methodologies and evaluated discount measures, study quality and cross-disciplinary fertilization. Results: In 44 out of 54 studies, smokers more greatly discounted the future than non-smokers and, in longitudinal studies, higher discounting predicted future smoking. Smokers with lower time-discount rates achieved higher quit rates. Findings were consistent across studies measuring discount rates using hypothetical monetary or cigarette reward scenarios. The methodological quality of the majority of studies was rated as ‘moderate’ and co-citation analysis revealed an isolation of economics journals and a dearth of studies in public health. Conclusion: There is moderate yet consistent evidence that high time-discounting is a risk factor for smoking and unsuccessful cessation. Policy scenarios assuming a flat rate of population discounting may inadequately capture smokers’ perceptions of costs and benefits. PMID:27818375

Value of the future: Discounting in random environments

NASA Astrophysics Data System (ADS)

Farmer, J. Doyne; Geanakoplos, John; Masoliver, Jaume; Montero, Miquel; Perelló, Josep

2015-05-01

We analyze how to value future costs and benefits when they must be discounted relative to the present. We introduce the subject for the nonspecialist and take into account the randomness of the economic evolution by studying the discount function of three widely used processes for the dynamics of interest rates: Ornstein-Uhlenbeck, Feller, and log-normal. Besides obtaining exact expressions for the discount function and simple asymptotic approximations, we show that historical average interest rates overestimate long-run discount rates and that this effect can be large. In other words, long-run discount rates should be substantially less than the average rate observed in the past, otherwise any cost-benefit calculation would be biased in favor of the present and against interventions that may protect the future.

Value of the future: Discounting in random environments.

PubMed

Farmer, J Doyne; Geanakoplos, John; Masoliver, Jaume; Montero, Miquel; Perelló, Josep

2015-05-01

We analyze how to value future costs and benefits when they must be discounted relative to the present. We introduce the subject for the nonspecialist and take into account the randomness of the economic evolution by studying the discount function of three widely used processes for the dynamics of interest rates: Ornstein-Uhlenbeck, Feller, and log-normal. Besides obtaining exact expressions for the discount function and simple asymptotic approximations, we show that historical average interest rates overestimate long-run discount rates and that this effect can be large. In other words, long-run discount rates should be substantially less than the average rate observed in the past, otherwise any cost-benefit calculation would be biased in favor of the present and against interventions that may protect the future.

Individual and social discounting in a viscous population.

PubMed

Sozou, Peter D

2009-08-22

Social discounting in economics involves applying a diminishing weight to community-wide benefits or costs into the future. It impacts on public policy decisions involving future positive or negative effects, but there is no consensus on the correct basis for determining the social discount rate. This study presents an evolutionary biological framework for social discounting. How an organism should value future benefits to its local community is governed by the extent to which members of the community in the future are likely to be its kin. Trade-offs between immediate and delayed benefits to an individual or to its community are analysed for a modelled patch-structured iteroparous population with limited dispersal. It is shown that the social discount rate is generally lower than the individual (private) discount rate. The difference in the two rates is most pronounced, in ratio terms, when the dispersal level is low and the hazard rate for patch destruction is much smaller than the individual mortality rate. When decisions involve enforced collective action rather than individuals acting independently, social investment increases but the social discount rate remains the same.

Tuition Discounting without Tears

ERIC Educational Resources Information Center

Martin, Robert E.

2004-01-01

This paper contains a policy model for tuition discounting that avoids the major financial pitfalls encountered in the administration of institutional scholarships. The dual objective of maximizing the funded scholarship discount rate and minimizing the unfunded discount rate is explained. Marginal cost pricing is the accepted criterion for…

Discounting the distant future-Data on Australian discount rates estimated by a stochastic interest rate model.

PubMed

Truong, Chi; Trück, Stefan

2017-04-01

Data on certainty equivalent discount factors and discount rates for stochastic interest rates in Australia are provided in this paper. The data has been used for the analysis of investments into climate adaptation projects in ׳It׳s not now or never: Implications of investment timing and risk aversion on climate adaptation to extreme events ׳ (Truong and Trück, 2016) [3] and can be used for other cost-benefit analysis studies in Australia. The data is of particular interest for the discounting of projects that create monetary costs and benefits in the distant future.

A low tension between individual and societal time aspects in health improved outcomes.

PubMed

Ortendahl, Monica; Fries, James F

2006-11-01

To review intertemporal choices, involving decisions with a trade-off between something now and something later. These choices are common in health both at an individual and societal level. The present value of an outcome, for example, the amount of money or the health outcomes in various aspects, is equivalent to the value of a future outcome discounted with the delay of time. The concept of diminishing value over time is positive discounting. Economic forecasts generally use discount rates in which the value of a future dollar is less than the value of a present dollar, and where the discount rates are similar for the individual investor and society. The value of future health is commonly thought of as similar to the value of future money. Yet, the individual may rationally choose a discount rate that is exceedingly low or even negative. This paradox is particularly relevant when considering primary and secondary prevention, where initial and continuing costs may precede beneficent outcomes by decades, making discount rate selections the dominant factor in determining decisions. We suggest that the societal perspective should also recognize that discount rates for health outcomes are largely irrelevant and that even negative discount rates have crucial relevance.

Time-discounting and tobacco smoking: a systematic review and network analysis.

PubMed

Barlow, Pepita; McKee, Martin; Reeves, Aaron; Galea, Gauden; Stuckler, David

2017-06-01

Tobacco smoking harms health, so why do people smoke and fail to quit? An explanation originating in behavioural economics suggests a role for time-discounting, which describes how the value of a reward, such as better health, decreases with delay to its receipt. A large number of studies test the relationship of time-discounting with tobacco outcomes but the temporal pattern of this relationship and its variation according to measurement methods remain unclear. We review the association between time-discounting and smoking across (i) the life course, from initiation to cessation, and (ii) diverse discount measures. We identified 69 relevant studies in Web of Science and PubMed. We synthesized findings across methodologies and evaluated discount measures, study quality and cross-disciplinary fertilization. In 44 out of 54 studies, smokers more greatly discounted the future than non-smokers and, in longitudinal studies, higher discounting predicted future smoking. Smokers with lower time-discount rates achieved higher quit rates. Findings were consistent across studies measuring discount rates using hypothetical monetary or cigarette reward scenarios. The methodological quality of the majority of studies was rated as 'moderate' and co-citation analysis revealed an isolation of economics journals and a dearth of studies in public health. There is moderate yet consistent evidence that high time-discounting is a risk factor for smoking and unsuccessful cessation. Policy scenarios assuming a flat rate of population discounting may inadequately capture smokers' perceptions of costs and benefits. © The Author 2016; Published by Oxford University Press on behalf of the International Epidemiological Association

The Vivid Present: Visualization Abilities Are Associated with Steep Discounting of Future Rewards

PubMed Central

Parthasarathi, Trishala; McConnell, Mairead H.; Luery, Jeffrey; Kable, Joseph W.

2017-01-01

Humans and other animals discount the value of future rewards, a phenomenon known as delay discounting. Individuals vary widely in the extent to which they discount future rewards, and these tendencies have been associated with important life outcomes. Recent studies have demonstrated that imagining the future reduces subsequent discounting behavior, but no research to date has examined whether a similar principle applies at the trait level, and whether training visualization changes discounting. The current study examined if individual differences in visualization abilities are linked to individual differences in discounting and whether practicing visualization can change discounting behaviors in a lasting way. Participants (n = 48) completed the Vividness of Visual Imagery Questionnaire (VVIQ) and delay discounting task and then underwent a 4-week intervention consisting of visualization training (intervention) or relaxation training (control). Contrary to our hypotheses, participants who reported greater visualization abilities (lower scores) on the VVIQ were higher discounters. To further examine this relationship, an additional 106 participants completed the VVIQ and delay discounting task. In the total sample (n = 154), there was a significant negative correlation between VVIQ scores and discount rates, showing that individuals who are better visualizers are also higher discounters. Consistent with this relationship but again to our surprise, visualization training tended, albeit weakly, to increase discount rates, and those whose VVIQ decreased the most were those whose discount rates increased the most. These results suggest a novel association between visualization abilities and delay discounting. PMID:28321198

The Vivid Present: Visualization Abilities Are Associated with Steep Discounting of Future Rewards.

PubMed

Parthasarathi, Trishala; McConnell, Mairead H; Luery, Jeffrey; Kable, Joseph W

2017-01-01

Humans and other animals discount the value of future rewards, a phenomenon known as delay discounting. Individuals vary widely in the extent to which they discount future rewards, and these tendencies have been associated with important life outcomes. Recent studies have demonstrated that imagining the future reduces subsequent discounting behavior, but no research to date has examined whether a similar principle applies at the trait level, and whether training visualization changes discounting. The current study examined if individual differences in visualization abilities are linked to individual differences in discounting and whether practicing visualization can change discounting behaviors in a lasting way. Participants ( n = 48) completed the Vividness of Visual Imagery Questionnaire (VVIQ) and delay discounting task and then underwent a 4-week intervention consisting of visualization training (intervention) or relaxation training (control). Contrary to our hypotheses, participants who reported greater visualization abilities (lower scores) on the VVIQ were higher discounters. To further examine this relationship, an additional 106 participants completed the VVIQ and delay discounting task. In the total sample ( n = 154), there was a significant negative correlation between VVIQ scores and discount rates, showing that individuals who are better visualizers are also higher discounters. Consistent with this relationship but again to our surprise, visualization training tended, albeit weakly, to increase discount rates, and those whose VVIQ decreased the most were those whose discount rates increased the most. These results suggest a novel association between visualization abilities and delay discounting.

Estimating implied rates of discount in healthcare decision-making.

PubMed

West, R R; McNabb, R; Thompson, A G H; Sheldon, T A; Grimley Evans, J

2003-01-01

To consider whether implied rates of discounting from the perspectives of individual and society differ, and whether implied rates of discounting in health differ from those implied in choices involving finance or "goods". The study comprised first a review of economics, health economics and social science literature and then an empirical estimate of implied rates of discounting in four fields: personal financial, personal health, public financial and public health, in representative samples of the public and of healthcare professionals. Samples were drawn in the former county and health authority district of South Glamorgan, Wales. The public sample was a representative random sample of men and women, aged over 18 years and drawn from electoral registers. The health professional sample was drawn at random with the cooperation of professional leads to include doctors, nurses, professions allied to medicine, public health, planners and administrators. The literature review revealed few empirical studies in representative samples of the population, few direct comparisons of public with private decision-making and few direct comparisons of health with financial discounting. Implied rates of discounting varied widely and studies suggested that discount rates are higher the smaller the value of the outcome and the shorter the period considered. The relationship between implied discount rates and personal attributes was mixed, possibly reflecting the limited nature of the samples. Although there were few direct comparisons, some studies found that individuals apply different rates of discount to social compared with private comparisons and health compared with financial. The present study also found a wide range of implied discount rates, with little systematic effect of age, gender, educational level or long-term illness. There was evidence, in both samples, that people chose a lower rate of discount in comparisons made on behalf of society than in comparisons made for themselves. Both public and health professional samples tended to choose lower discount rates in health-related comparisons than in finance-related comparisons. It was also suggested that implied rates of discount, derived from responses to hypothetical questions, can be influenced by detail of question framing. The study suggested that both the lay public and healthcare professionals consider that the discount rate appropriate for public decisions is lower than that for private decisions. This finding suggests that lay people as well as healthcare professionals, used to making decisions on behalf of others, recognise that society is not simply an aggregate of individuals. It also implies a general appreciation that society is more stable and has a more predictable future than does the individual. There is fairly general support for this view in the theoretical literature and limited support in the few previous direct comparisons. Further research is indicated, possibly involving more in-depth interviewing and drawing inference on real, rather than hypothetical choices.

49 CFR 377.203 - Extension of credit to shippers.

Code of Federal Regulations, 2010 CFR

2010-10-01

... payment of the full, nondiscounted rate instead of the discounted rate otherwise applicable. The difference between the discount and the full rate constitutes a carrier's liquidated damages for its collection effort. Under this method the tariff shall identify the discount rates that are subject to the...

Philosophical origins of the social rate of discount in cost-benefit analysis.

PubMed

Robinson, J C

1990-01-01

The social rate of discount--that is, the way decision makers today evaluate future consequences of collective activity--raises difficult issues of intergenerational justice. When benefits are discounted at the present rate the United States government requires, serious efforts to promote public health over the long term will fail cost-benefit tests. No consensus exists among theorists to establish fair rates; philosophers support discounting with economic arguments that economists reject, while economists no less paradoxically support the concept using philosophical arguments that philosophers disavow. A new emphasis on the role of consumers' and citizens' time preferences, however, will keep open rather than close debates on the social discount rate.

Benchmarking Discount Rate in Natural Resource Damage Assessment with Risk Aversion.

PubMed

Wu, Desheng; Chen, Shuzhen

2017-08-01

Benchmarking a credible discount rate is of crucial importance in natural resource damage assessment (NRDA) and restoration evaluation. This article integrates a holistic framework of NRDA with prevailing low discount rate theory, and proposes a discount rate benchmarking decision support system based on service-specific risk aversion. The proposed approach has the flexibility of choosing appropriate discount rates for gauging long-term services, as opposed to decisions based simply on duration. It improves injury identification in NRDA since potential damages and side-effects to ecosystem services are revealed within the service-specific framework. A real embankment case study demonstrates valid implementation of the method. © 2017 Society for Risk Analysis.

Stated time preferences for health: a systematic review and meta analysis of private and social discount rates.

PubMed

Mahboub-Ahari, Alireza; Pourreza, Abolghasem; Sari, Ali Akbari; Rahimi Foroushani, Abbas; Heydari, Hassan

2014-01-01

The present study aimed to provide better insight on methodological issues related to time preference studies, and to estimate private and social discount rates, using a rigorous systematic review and meta-analysis. We searched PubMed, EMBASE and Proquest databases in June 2013. All studies had estimated private and social time preference rates for health outcomes through stated preference approach, recognized eligible for inclusion. We conducted both fixed and random effect meta-analyses using mean discount rate and standard deviation of the included studies. I-square statistics was used for testing heterogeneity of the studies. Private and social discount rates were estimated separately via Stata11 software. Out of 44 screened full texts, 8 population-based empirical studies were included in qualitative synthesis. Reported time preference rates for own health were from 0.036 to 0.07 and for social health from 0.04 to 0.2. Private and social discount rates were estimated at 0.056 (95% CI: 0.038, 0.074) and 0.066 (95% CI: 0.064, 0.068), respectively. Considering the impact of time preference on healthy behaviors and because of timing issues, individual's time preference as a key determinant of policy making should be taken into account. Direct translation of elicited discount rates to the official discount rates has been remained questionable. Decisions about the proper discount rate for health context, may need a cross-party consensus among health economists and policy makers.

OPPORTUNITY COSTS OF REWARD DELAYS AND THE DISCOUNTING OF HYPOTHETICAL MONEY AND CIGARETTES

PubMed Central

Johnson, Patrick S.; Herrmann, Evan S.; Johnson, Matthew W.

2015-01-01

Humans are reported to discount delayed rewards at lower rates than nonhumans. However, nonhumans are studied in tasks that restrict reinforcement during delays, whereas humans are typically studied in tasks that do not restrict reinforcement during delays. In nonhuman tasks, the opportunity cost of restricted reinforcement during delays may increase delay discounting rates. The present within-subjects study used online crowdsourcing (Amazon Mechanical Turk, or MTurk) to assess the discounting of hypothetical delayed money (and cigarettes in smokers) under four hypothetical framing conditions differing in the availability of reinforcement during delays. At one extreme, participants were free to leave their computer without returning, and engage in any behavior during reward delays (modeling typical human tasks). At the opposite extreme, participants were required to stay at their computer and engage in little other behavior during reward delays (modeling typical nonhuman tasks). Discounting rates increased as an orderly function of opportunity cost. Results also indicated predominantly hyperbolic discounting, the “magnitude effect,” steeper discounting of cigarettes than money, and positive correlations between discounting rates of these commodities. This is the first study to test the effects of opportunity costs on discounting, and suggests that procedural differences may partially account for observed species differences in discounting. PMID:25388973

Opportunity costs of reward delays and the discounting of hypothetical money and cigarettes.

PubMed

Johnson, Patrick S; Herrmann, Evan S; Johnson, Matthew W

2015-01-01

Humans are reported to discount delayed rewards at lower rates than nonhumans. However, nonhumans are studied in tasks that restrict reinforcement during delays, whereas humans are typically studied in tasks that do not restrict reinforcement during delays. In nonhuman tasks, the opportunity cost of restricted reinforcement during delays may increase delay discounting rates. The present within-subjects study used online crowdsourcing (Amazon Mechanical Turk, or MTurk) to assess the discounting of hypothetical delayed money (and cigarettes in smokers) under four hypothetical framing conditions differing in the availability of reinforcement during delays. At one extreme, participants were free to leave their computer without returning, and engage in any behavior during reward delays (modeling typical human tasks). At the opposite extreme, participants were required to stay at their computer and engage in little other behavior during reward delays (modeling typical nonhuman tasks). Discounting rates increased as an orderly function of opportunity cost. Results also indicated predominantly hyperbolic discounting, the "magnitude effect," steeper discounting of cigarettes than money, and positive correlations between discounting rates of these commodities. This is the first study to test the effects of opportunity costs on discounting, and suggests that procedural differences may partially account for observed species differences in discounting. © Society for the Experimental Analysis of Behavior.

Smoking, Discount Rates, and Returns to Education

ERIC Educational Resources Information Center

Fersterer, Josef; Winter-Ebmer, Rudolf

2003-01-01

Individual time preference determines schooling enrolment. Moreover, smoking behavior in early ages has been shown to be highly related to time preference rates. Insofar as discount rates are uncorrelated to ability, predicting school enrolment by discount rates can get rid of the ability bias in an earnings regression. Accordingly, we use smoking…

Steeper discounting of delayed rewards in schizophrenia but not first-degree relatives.

PubMed

Yu, Linda Q; Lee, Sangil; Katchmar, Natalie; Satterthwaite, Theodore D; Kable, Joseph W; Wolf, Daniel H

2017-06-01

Excessive discounting of future rewards has been related to a variety of risky behaviors and adverse clinical conditions. Prior work examining delay discounting in schizophrenia suggests an elevated discount rate. However, it remains uncertain whether this reflects the disease process itself or an underlying genetic vulnerability, whether it is selective for delay discounting or reflects pervasive changes in decision-making, and whether it is driven by specific clinical dimensions such as cognitive impairment. Here we investigated delay discounting, as well as loss aversion and risk aversion, in three groups: schizophrenia (SZ), unaffected first-degree family members (FM), and controls without a family history of psychosis (NC). SZ had elevated discounting, without changes in loss aversion or risk aversion. Contrary to expectations, the FM group did not show an intermediate phenotype in discounting. Higher discount rates correlated with lower cognitive performance on verbal reasoning, but this did not explain elevated discount rates in SZ. Group differences were driven primarily by the non-smoking majority of the sample. This study provides further evidence for elevated discounting in schizophrenia, and demonstrates that steeper discounting is not necessarily associated with familial risk, cannot be wholly accounted for by cognitive deficits, and is not attributable to smoking-related impulsivity. Copyright © 2017 Elsevier Ireland Ltd. All rights reserved.

Heroin and cocaine abusers have higher discount rates for delayed rewards than alcoholics or non-drug-using controls.

PubMed

Kirby, Kris N; Petry, Nancy M

2004-04-01

To test a prediction of the discounting model of impulsiveness that discount rates would be positively associated with addiction. The delay-discount rate refers to the rate of reduction in the present value of a future reward as the delay to that reward increases. We estimated participants' discount rates on the basis of their pattern of choices between smaller immediate rewards ($11-80) and larger, delayed rewards ($25-85; at delays from 1 week to 6 months) in a questionnaire format. Participants had a one-in-six chance of winning a reward that they chose on one randomly selected trial. Heroin (n = 27), cocaine (n = 41) and alcohol (n = 33) abusers and non-drug-using controls (n = 44) were recruited from advertisements. They were tested in a drug abuse research clinic at a medical school. On average, the cocaine and heroin groups had higher rates than controls (both P < 0.001), but alcoholics did not (P = 0.44). Abstinence was associated with lower rates for heroin abusers (P = 0.03), but not for cocaine or alcohol abusers (both P > 0.50). These data suggest that discount rates vary with the preferred drug of abuse, and that high discount rates should be considered in the development of substance abuse prevention and treatment efforts.

Delay Discounting of Losses in Alcohol Use Disorders and Antisocial Psychopathology: Effects of a Working Memory Load.

PubMed

Gerst, Kyle R; Gunn, Rachel L; Finn, Peter R

2017-10-01

Alcohol use disorders (AUDs) are associated with increased discounting of delayed rewards and reduced executive working memory (eWM) capacity. This association is amplified when comorbid with antisocial psychopathology (AP). Furthermore, recent studies suggest that reduced WM capacity is associated with disinhibited decisions reflected by increased impulsive decision making on the delay discounting of rewards task. While discounting of delayed rewards is well studied, the discounting of delayed losses has received significantly less experimental attention. The current study investigated (i) the rate of discounting of delayed losses in individuals with AUD only (n = 61), AUD with comorbid AP (n = 79) and healthy controls (n = 64); (ii) the relationship between eWM capacity and discounting of delayed losses; and (iii) the effect of a WM load on discounting of delayed losses. Discounting performance was assessed using a computerized discounting of delayed losses task. Results showed that the AUD-only and AUD-AP groups had higher rates of discounting of delayed losses and lower eWM capacity compared to the control groups. Lower individual eWM capacity was associated with increased discounting of delayed losses. However, WM load did not increase discounting rates overall. These results support the hypothesis that greater discounting of delayed losses is associated with AUD and comorbid AP problems and lower individual eWM capacity. Copyright © 2017 by the Research Society on Alcoholism.

Agreeing to disagree on climate policy.

PubMed

Heal, Geoffrey M; Millner, Antony

2014-03-11

Disagreements about the value of the utility discount rate--the rate at which our concern for the welfare of future people declines with their distance from us in time--are at the heart of the debate about the appropriate intensity of climate policy. Seemingly small differences in the discount rate yield very different policy prescriptions, and no consensus "correct" value has been identified. We argue that the choice of discount rate is an ethical primitive: there are many different legitimate opinions as to its value, and none should receive a privileged place in economic analysis of climate policy. Rather, we advocate a social choice-based approach in which a diverse set of individual discount rates is aggregated into a "representative" rate. We show that performing this aggregation efficiently leads to a time-dependent discount rate that declines monotonically to the lowest rate in the population. We apply this discounting scheme to calculations of the social cost of carbon recently performed by the US government and show that it provides an attractive compromise between competing ethical positions, and thus provides a possible resolution to the ethical impasse in climate change economics.

Energy efficiency in the U.S. residential sector: An engineering and economic assessment of opportunities for large energy savings and greenhouse gas emissions reductions

NASA Astrophysics Data System (ADS)

Lima de Azevedo, Ines Margarida

Energy efficiency and conservation is a very promising part of a portfolio of the needed strategies to mitigate climate change. Several technologies and energy efficiency measures in the residential sector offer potential for large energy savings. However, while energy efficiency options are currently considered as a means of reducing carbon emissions, there is still large uncertainty about the effect of such measures on overall carbon savings. The first part of this thesis provides a national assessment of the energy efficiency potential in the residential sector under several different scenarios, which include the perspectives of different economic agents (consumers, utilities, ESCOs, and a society). The scenarios also include maximizing energy, electricity or carbon dioxide savings. The second part of this thesis deals with a detailed assessment of the potential for white-light LEDs for energy and carbon dioxide savings in the U.S. commercial and residential sectors. Solid-state lighting shows great promise as a source of efficient, affordable, color-balanced white light. Indeed, assuming market discount rates, the present work demonstrates that white solid-state lighting already has a lower levelized annual cost (LAC) than incandescent bulbs and that it will be lower than that of the most efficient fluorescent bulbs by the end of this decade. However, a large literature indicates that households do not make their decisions in terms of simple expected economic value. The present analysis shows that incorporating the findings from literature on high implicit discount rates from households when performing decisions towards efficient technologies delays the adoption of white LEDs by a couple of years. After a review of the technology, the present work compares the electricity consumption, carbon emissions and cost-effectiveness of current lighting technologies, when accounting for expected performance evolution through 2015. Simulations of lighting electricity consumption and implicit greenhouse gases emissions for the U.S. residential and commercial sectors through 2015 under different policy scenarios (voluntary solid-state lighting adoption, implementation of lighting standards in new construction and rebate programs or equivalent subsidies) are also included.

A Job with a Future? Delay Discounting, Magnitude Effects, and Domain Independence of Utility for Career Decisions.

ERIC Educational Resources Information Center

Schoenfelder, Thomas E.; Hantula, Donald A.

2003-01-01

Seniors (n=20) assessed two job offers with differences in domain (salary/tasks), delay (career-long earnings), and magnitude (initial salary offer). Contrary to discounted utility theory, choices reflected nonconstant discount rates for future salary/tasks (delay effect), lower discount rates for salary/preferred tasks (magnitude effect), and a…

Time discounting and smoking behavior: evidence from a panel survey(*).

PubMed

Kang, Myong-Il; Ikeda, Shinsuke

2014-12-01

By using a panel survey of Japanese adults, we show that smoking behavior is associated with personal time discounting and its biases, such as hyperbolic discounting and the sign effect, in the way that theory predicts: smoking depends positively on the discount rate and the degree of hyperbolic discounting and negatively on the presence of the sign effect. Positive effects of hyperbolic discounting on smoking are salient for naïve people, who are not aware of their self-control problem. By estimating smoking participation and smokers' cigarette consumption in Cragg's two-part model, we find that the two smoking decisions depend on different sets of time-discounting variables. Particularly, smoking participation is affected by being a naïve hyperbolic discounter, whereas the discount rate, the presence of the sign effect, and a hyperbolic discounting proxy constructed from procrastination behavior vis-à-vis doing homework assignments affect both types of decision making. The panel data enable us to analyze the over-time instability of elicited discount rates. The instability is shown to come from measurement errors, rather than preference shocks on time preference. Several evidences indicate that the detected associations between time preferences and smoking behavior are interpersonal one, rather than within-personal one. Copyright © 2013 John Wiley & Sons, Ltd.

Time discounting and the body mass index. Evidence from the Netherlands.

PubMed

Borghans, Lex; Golsteyn, Bart H H

2006-01-01

In many Western countries, the relative weight of people -- measured by the body mass index (BMI) -- has increased substantially in recent years, leading to an increasing incidence of overweight and related health problems. As with many forms of risky behavior, it is plausible that overweight is related to the individual discount rate. Increases in credit card debts, the rise in gambling and the development of a more hedonic life style, suggest that the average discount rate has increased over time. An increase in time discounting may be a contributing factor in the rise in BMI. Applying a large set of indicators for the individual discount rate from a Dutch survey, this paper analyzes whether changes in time discounting can account for differences in body mass between individuals at a given point in time and whether changes in the average individual discount rate can explain the remarkable increase in BMI experienced in recent years in the Netherlands. We find some evidence for a link between time discounting and differences in BMI between people, but this relationship depends strongly on the choice of the proxy for the discount rate. Giving our hypothesis the best chance, we analyze the development of the time discounting proxies that are most strongly related to BMI. We find no evidence for a change of these proxies over time. Our main conclusion therefore is that overweight might be related to the way people discount future health benefits, but the increase in BMI is more likely explained by shifts in other parameters that determine the intertemporal decisions regarding the trade-off of current and future health and satisfaction.

A cost/benefit analysis of commercial fusion-fission hybrid reactor development

NASA Astrophysics Data System (ADS)

Kostoff, Ronald N.

1983-04-01

A simple algorithm was developed that allows rapid computation of the ratio, R, of present worth of benefits to present worth of hybrid R&D program costs as a function of potential hybrid unit electricity cost savings, discount rate, electricity demand growth rate, total hybrid R&D program cost, and time to complete a demonstration reactor. In the sensitivity study, these variables were assigned nominal values (unit electricity cost savings of 4 mills/kW-hr, discount rate of 4%/year, growth rate of 2.25%/year, total R&D program cost of 20 billion, and time to complete a demonstration reactor of 30 years), and the variable of interest was varied about its nominal value. Results show that R increases with decreasing discount rate and increasing unit electricity savings and ranges from 4 to 94 as discount rate ranges from 5 to 3%/year and unit electricity savings range from 2 to 6 mills/kW-hr. R increases with increasing growth rate and ranges from 3 to 187 as growth rate ranges from 1 to 3.5%/year and unit electricity cost savings range from 2 to 6 mills/kW-hr. R attains a maximum value when plotted against time to complete a demonstration reactor. The location of this maximum value occurs at shorter completion times as discount rate increases, and this optimal completion time ranges from 20 years for a discount rate of 4%/year to 45 years for a discount rate of 3%/year.

Discounting medical malpractice claim reserves for self-insured hospitals.

PubMed

Frese, Richard; Kitchen, Patrick

2011-01-01

The hospital CFO often works with the hospital's actuary and external auditor to calculate the reserves recorded in financial statements. Hospital management, usually the CFO, needs to decide the discount rate that is most appropriate. A formal policy addressing the rationale for discounting and the rationale for selecting the discount rate can be helpful to the CFO, actuary, and external auditor.

Towards a healthier discount procedure.

PubMed

Klock, Rogier M; Brouwer, Werner Bf; Annemans, Lieven Jp; Bos, Jasper M; Postma, Maarten J

2005-02-01

Most national guidelines for pharmacoeconomic research prescribe discounting, mostly of money and health against the same rate. There is much debate on whether this is adequate. Two theoretical arguments, the consistency argument of Weinstein and Stason, and the paralyzing paradox of Keeler and Cretin, are mostly responsible for the current standards. However, more recently, several authors have indicated that the basis to claim the necessity of using similar discount rates is rather weak, both practically and theoretically. In terms of finding a new theoretical basis on which to base discount rates for money and, in particular, health, Van Hout has made an important suggestion arguing that the discount rate for health could be based on the expected growth in life expectancy and the diminishing marginal utility related to such additional health. Similarly, Gravelle and Smith argue that if the value of health grows over time, discount rates that are used for costs cannot directly be applied to effects, but should be adjusted downwards.

Optimal harvesting of fish stocks under a time-varying discount rate.

PubMed

Duncan, Stephen; Hepburn, Cameron; Papachristodoulou, Antonis

2011-01-21

Optimal control theory has been extensively used to determine the optimal harvesting policy for renewable resources such as fish stocks. In such optimisations, it is common to maximise the discounted utility of harvesting over time, employing a constant time discount rate. However, evidence from human and animal behaviour suggests that we have evolved to employ discount rates which fall over time, often referred to as "hyperbolic discounting". This increases the weight on benefits in the distant future, which may appear to provide greater protection of resources for future generations, but also creates challenges of time-inconsistent plans. This paper examines harvesting plans when the discount rate declines over time. With a declining discount rate, the planner reduces stock levels in the early stages (when the discount rate is high) and intends to compensate by allowing the stock level to recover later (when the discount rate will be lower). Such a plan may be feasible and optimal, provided that the planner remains committed throughout. However, in practice there is a danger that such plans will be re-optimized and adjusted in the future. It is shown that repeatedly restarting the optimization can drive the stock level down to the point where the optimal policy is to harvest the stock to extinction. In short, a key contribution of this paper is to identify the surprising severity of the consequences flowing from incorporating a rather trivial, and widely prevalent, "non-rational" aspect of human behaviour into renewable resource management models. These ideas are related to the collapse of the Peruvian anchovy fishery in the 1970's. Copyright © 2010 Elsevier Ltd. All rights reserved.

Wisdom Needed.

ERIC Educational Resources Information Center

Lapovsky, Lucie

1998-01-01

Results of the National Association of College and University Business Officers' annual survey (n=340 institutions) of institutional aid to students (tuition discounting) are summarized. Data include an analysis of tuition patterns, freshman tuition discount rates, undergraduate discount rates, class differences, and relationships among variables…

48 CFR 9904.415-60 - Illustrations.

Code of Federal Regulations, 2010 CFR

2010-10-01

... in 9904.415-50(a) are met. Year Amount of future payment × discount rate 8-percent present value... future payment×Discount rate present value factor for 2 yr at 8 pct=Assignable cost $2,000×0.8573=$1,714... was used as the discount rate at the time the cost was assigned. The IRS rate in effect at the date of...

75 FR 61747 - Discount Energy Group, LLC; Supplemental Notice That Initial Market-Based Rate Filing Includes...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-10-06

... proceeding of Discount Energy Group, LLC's application for market-based rate authority, with an accompanying... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. ER10-2803-000] Discount Energy Group, LLC; Supplemental Notice That Initial Market-Based Rate Filing Includes Request for Blanket...

Does temporal discounting explain unhealthy behavior? A systematic review and reinforcement learning perspective

PubMed Central

Story, Giles W.; Vlaev, Ivo; Seymour, Ben; Darzi, Ara; Dolan, Raymond J.

2014-01-01

The tendency to make unhealthy choices is hypothesized to be related to an individual's temporal discount rate, the theoretical rate at which they devalue delayed rewards. Furthermore, a particular form of temporal discounting, hyperbolic discounting, has been proposed to explain why unhealthy behavior can occur despite healthy intentions. We examine these two hypotheses in turn. We first systematically review studies which investigate whether discount rates can predict unhealthy behavior. These studies reveal that high discount rates for money (and in some instances food or drug rewards) are associated with several unhealthy behaviors and markers of health status, establishing discounting as a promising predictive measure. We secondly examine whether intention-incongruent unhealthy actions are consistent with hyperbolic discounting. We conclude that intention-incongruent actions are often triggered by environmental cues or changes in motivational state, whose effects are not parameterized by hyperbolic discounting. We propose a framework for understanding these state-based effects in terms of the interplay of two distinct reinforcement learning mechanisms: a “model-based” (or goal-directed) system and a “model-free” (or habitual) system. Under this framework, while discounting of delayed health may contribute to the initiation of unhealthy behavior, with repetition, many unhealthy behaviors become habitual; if health goals then change, habitual behavior can still arise in response to environmental cues. We propose that the burgeoning development of computational models of these processes will permit further identification of health decision-making phenotypes. PMID:24659960

Does temporal discounting explain unhealthy behavior? A systematic review and reinforcement learning perspective.

PubMed

Story, Giles W; Vlaev, Ivo; Seymour, Ben; Darzi, Ara; Dolan, Raymond J

2014-01-01

The tendency to make unhealthy choices is hypothesized to be related to an individual's temporal discount rate, the theoretical rate at which they devalue delayed rewards. Furthermore, a particular form of temporal discounting, hyperbolic discounting, has been proposed to explain why unhealthy behavior can occur despite healthy intentions. We examine these two hypotheses in turn. We first systematically review studies which investigate whether discount rates can predict unhealthy behavior. These studies reveal that high discount rates for money (and in some instances food or drug rewards) are associated with several unhealthy behaviors and markers of health status, establishing discounting as a promising predictive measure. We secondly examine whether intention-incongruent unhealthy actions are consistent with hyperbolic discounting. We conclude that intention-incongruent actions are often triggered by environmental cues or changes in motivational state, whose effects are not parameterized by hyperbolic discounting. We propose a framework for understanding these state-based effects in terms of the interplay of two distinct reinforcement learning mechanisms: a "model-based" (or goal-directed) system and a "model-free" (or habitual) system. Under this framework, while discounting of delayed health may contribute to the initiation of unhealthy behavior, with repetition, many unhealthy behaviors become habitual; if health goals then change, habitual behavior can still arise in response to environmental cues. We propose that the burgeoning development of computational models of these processes will permit further identification of health decision-making phenotypes.

Observed and Normative Discount Functions in Addiction and other Diseases

PubMed Central

Cruz Rambaud, Salvador; Muñoz Torrecillas, María J.; Takahashi, Taiki

2017-01-01

The aim of this paper is to find a suitable discount function able to describe the progression of a certain addiction or disease under treatment as a discounting process. In effect, a certain indicator related to a disease decays over time in a manner which is mathematically similar to the way in which discounting has been modeled. We analyze the discount functions observed in experiments which study addictive and other problematic behaviors as well as some alternative hyperbola-like discount functions in order to fit the patience exhibited by the subject after receiving the treatment. Additionally, it has been experimentally found that people with addiction display high rates of discount (impatience) and preference reversals (dynamic inconsistency). This excessive discounting must be correctly modeled by a suitable discount function, otherwise, it can become a trans-disease process underlying addiction and other disorders. The (generalized) exponentiated hyperbolic discount function is proposed to describe the progression of a disease with respect to the treatment, since it maintains the property of inconsistency by exhibiting a decreasing discount rate after an initial period in which the opposite occurs. PMID:28706486

Observed and Normative Discount Functions in Addiction and other Diseases.

PubMed

Cruz Rambaud, Salvador; Muñoz Torrecillas, María J; Takahashi, Taiki

2017-01-01

The aim of this paper is to find a suitable discount function able to describe the progression of a certain addiction or disease under treatment as a discounting process. In effect, a certain indicator related to a disease decays over time in a manner which is mathematically similar to the way in which discounting has been modeled. We analyze the discount functions observed in experiments which study addictive and other problematic behaviors as well as some alternative hyperbola-like discount functions in order to fit the patience exhibited by the subject after receiving the treatment. Additionally, it has been experimentally found that people with addiction display high rates of discount (impatience) and preference reversals (dynamic inconsistency). This excessive discounting must be correctly modeled by a suitable discount function, otherwise, it can become a trans-disease process underlying addiction and other disorders. The (generalized) exponentiated hyperbolic discount function is proposed to describe the progression of a disease with respect to the treatment, since it maintains the property of inconsistency by exhibiting a decreasing discount rate after an initial period in which the opposite occurs.

Agreeing to disagree on climate policy

PubMed Central

Heal, Geoffrey M.; Millner, Antony

2014-01-01

Disagreements about the value of the utility discount rate—the rate at which our concern for the welfare of future people declines with their distance from us in time—are at the heart of the debate about the appropriate intensity of climate policy. Seemingly small differences in the discount rate yield very different policy prescriptions, and no consensus “correct” value has been identified. We argue that the choice of discount rate is an ethical primitive: there are many different legitimate opinions as to its value, and none should receive a privileged place in economic analysis of climate policy. Rather, we advocate a social choice-based approach in which a diverse set of individual discount rates is aggregated into a “representative” rate. We show that performing this aggregation efficiently leads to a time-dependent discount rate that declines monotonically to the lowest rate in the population. We apply this discounting scheme to calculations of the social cost of carbon recently performed by the US government and show that it provides an attractive compromise between competing ethical positions, and thus provides a possible resolution to the ethical impasse in climate change economics. PMID:24567383

Exchanging the liquidity hypothesis: Delay discounting of money and self-relevant non-money rewards

PubMed Central

Stuppy-Sullivan, Allison M.; Tormohlen, Kayla N.; Yi, Richard

2015-01-01

Evidence that primary rewards (e.g., food and drugs of abuse) are discounted more than money is frequently attributed to money's high degree of liquidity, or exchangeability for many commodities. The present study provides some evidence against this liquidity hypothesis by contrasting delay discounting of monetary rewards (liquid) and non-monetary commodities (non-liquid) that are self-relevant and utility-matched. Ninety-seven (97) undergraduate students initially completed a conventional binary-choice delay discounting of money task. Participants returned one week later and completed a self-relevant commodity delay discounting task. Both conventional hypothesis testing and more-conservative tests of statistical equivalence revealed correspondence in rate of delay discounting of money and self-relevant commodities, and in one magnitude condition, less discounting for the latter. The present results indicate that liquidity of money cannot fully account for the lower rate of delay discounting compared to non-money rewards. PMID:26556504

Neural congruence between intertemporal and interpersonal self-control: Evidence from delay and social discounting.

PubMed

Hill, Paul F; Yi, Richard; Spreng, R Nathan; Diana, Rachel A

2017-11-15

Behavioral studies using delay and social discounting as indices of self-control and altruism, respectively, have revealed functional similarities between farsighted and social decisions. However, neural evidence for this functional link is lacking. Twenty-five young adults completed a delay and social discounting task during fMRI scanning. A spatiotemporal partial least squares analysis revealed that both forms of discounting were well characterized by a pattern of brain activity in areas comprising frontoparietal control, default, and mesolimbic reward networks. Both forms of discounting appear to draw on common neurocognitive mechanisms, regardless of whether choices involve intertemporal or interpersonal outcomes. We also observed neural profiles differentiating between high and low discounters. High discounters were well characterized by increased medial temporal lobe and limbic activity. In contrast, low discount rates were associated with activity in the medial prefrontal cortex and right temporoparietal junction. This pattern may reflect biological mechanisms underlying behavioral heterogeneity in discount rates. Copyright © 2017 Elsevier Inc. All rights reserved.

Now for Me, Later for Us? Effects of Group Context on Temporal Discounting

PubMed Central

Charlton, Shawn R.; Yi, Richard; Porter, Caitlin; Carter, Anne E.; Bickel, Warren; Rachlin, Howard

2013-01-01

Delayed rewards are less valuable than immediate rewards. This well-established finding has focused almost entirely on individual outcomes. However, are delayed rewards similarly discounted if they are shared by a group? The current article reports on three experiments exploring the effect of group context on delay discounting. Results indicate that discount rates of individual and group rewards were highly correlated, but that respondents were more willing to wait (decreased discounting) for shared outcomes than for individual outcomes. An explanatory model is proposed suggesting that decreased discount rates in group contexts may be due to the way the effects of both delay and social discounting are combined. That is, in a group context, a person values both a future reward (discounted by delay) and a present reward to another person (discounted by the social distance between them). The results are explained by a combined discount function containing a delay factor and a factor representing the social distance between the decision maker and group members. Practical implications of the fact that shared consequences can increase individual self-control are also discussed. PMID:23641123

75 FR 64769 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-10-20

... are provided an option to pay for only the service they desire at a discounted rate. Use of Clearly... believes that offering the Clearly Erroneous Module at a further discounted rate applicable to each MPID... nature of their businesses. As such, offering the service at a discounted rate to members that subscribe...

Delay Discounting Rates Are Temporally Stable in an Equivalent Present Value Procedure Using Theoretical and Area under the Curve Analyses

ERIC Educational Resources Information Center

Harrison, Justin; McKay, Ryan

2012-01-01

Temporal discounting rates have become a popular dependent variable in social science research. While choice procedures are commonly employed to measure discounting rates, equivalent present value (EPV) procedures may be more sensitive to experimental manipulation. However, their use has been impeded by the absence of test-retest reliability data.…

Discounting of money and sex: effects of commodity and temporal position in stimulant-dependent men and women.

PubMed

Jarmolowicz, David P; Landes, Reid D; Christensen, Darren R; Jones, Bryan A; Jackson, Lisa; Yi, Richard; Bickel, Warren K

2014-11-01

Research on delay discounting has contributed to the understanding of numerous addiction-related phenomena. For example, studies have shown that substance dependent individuals discount their addictive substances (e.g., cocaine) more rapidly than they do other commodities (e.g., money). Recent research has shown that substance dependent individuals discount delayed sex more rapidly than delayed money, and their discounting rates for delayed sex were higher than those of non-addicted individuals. The particular reason that delay discounting rates for sex are higher than those for money, however, are unclear. Do individuals discount delayed sex rapidly because immediate sex is particularly appealing or because delayed sex does not retain its value? Moreover, do the same factors influence men and women's choices? The current study examined delay discounting in four conditions (money now versus money later; sex now versus sex later; money now, versus sex later; sex now versus money later) in cocaine dependent men and women. The procedures used isolated the role of the immediate versus delayed commodity. For men, the higher rates of delay discounting for sex were because delayed sex did not retain its value, whereas both the immediate and delayed commodity influenced the female participants' decisions. Copyright © 2014 Elsevier Ltd. All rights reserved.

Towards a social discount rate for the economic evaluation of health technologies in Germany: an exploratory analysis.

PubMed

Schad, Mareike; John, Jürgen

2012-04-01

Over the last decades, methods for the economic evaluation of health care technologies were increasingly used to inform reimbursement decisions. For a short time, the German Statutory Health Insurance makes use of these methods to support reimbursement decisions on patented drugs. In this context, the discounting procedure emerges as a critical component of these methods, as discount rates can strongly affect the resulting incremental cost-effectiveness ratios. The aim of this paper is to identify the appropriate value of a social discount rate to be used by the German Statutory Health Insurance for the economic evaluation of health technologies. On theoretical grounds, we build on the widespread view of contemporary economists that the social rate of time preference (SRTP) is the adequate social discount rate. For quantifying the SRTP, we first apply the market behaviour approach, which assumes that the SRTP is reflected in observable market interest rates. As a second approach, we derive the SRTP from optimal growth theory by using the Ramsey equation. A major part of the paper is devoted to specify the parameters of this equation. Depending on various assumptions, our empirical findings result in the range of 1.75-4.2% for the SRTP. A reasonable base case discount rate for Germany, thus, would be about 3%. Furthermore, we deal with the much debated question whether a common discount rate for costs and health benefits or a lower rate for health should be applied in health economic evaluations. In the German social health insurance system, no exogenously fixed budget constraint does exist. When evaluating a new health technology, the health care decision maker is obliged to conduct an economic evaluation in order to examine whether there is an economically appropriate relation between the value of the health gains and the additional costs which are given by the value of the consumption losses due to the additional health care expenditures. Therefore, a discount rate lower than the SRTP for consumption should be applied if an increase in the consumption value of health is expected. However, given the limited empirical evidence on the relationship between consumption and the value of health, it is hardly possible to make reliable forecasts of this value. Regarding the practice of the German evaluation authority, it is not recommended to use differential discounting in the base case. Instead, the issue of differential discounting should be addressed in sensitivity analyses. Reducing the discount rate for health compared to the rate for costs by a figure in the range between near 0% and 3% may be considered to be appropriate for Germany.

The evolution of self-fertilization and inbreeding depression under pollen discounting and pollen limitation.

PubMed

Porcher, E; Lande, R

2005-05-01

We model the evolution of plant mating systems under the joint effects of pollen discounting and pollen limitation, using a dynamic model of inbreeding depression, allowing for partial purging of recessive lethal mutations by selfing. Stable mixed mating systems occur for a wide range of parameter values with pollen discounting alone. However, when typical levels of pollen limitation are combined with pollen discounting, stable selfing rates are always high but less than 1 (0.9

Exchanging the liquidity hypothesis: Delay discounting of money and self-relevant non-money rewards.

PubMed

Stuppy-Sullivan, Allison M; Tormohlen, Kayla N; Yi, Richard

2016-01-01

Evidence that primary rewards (e.g., food and drugs of abuse) are discounted more than money is frequently attributed to money's high degree of liquidity, or exchangeability for many commodities. The present study provides some evidence against this liquidity hypothesis by contrasting delay discounting of monetary rewards (liquid) and non-monetary commodities (non-liquid) that are self-relevant and utility-matched. Ninety-seven (97) undergraduate students initially completed a conventional binary-choice delay discounting of money task. Participants returned one week later and completed a self-relevant commodity delay discounting task. Both conventional hypothesis testing and more-conservative tests of statistical equivalence revealed correspondence in rate of delay discounting of money and self-relevant commodities, and in one magnitude condition, less discounting for the latter. The present results indicate that liquidity of money cannot fully account for the lower rate of delay discounting compared to non-money rewards. Copyright © 2015 Elsevier B.V. All rights reserved.

THE DISCOUNTED REPRODUCTIVE NUMBER FOR EPIDEMIOLOGY

PubMed Central

Reluga, Timothy C.; Medlock, Jan; Galvani, Alison

2013-01-01

The basic reproductive number, , and the effective reproductive number, , are commonly used in mathematical epidemiology as summary statistics for the size and controllability of epidemics. However, these commonly used reproductive numbers can be misleading when applied to predict pathogen evolution because they do not incorporate the impact of the timing of events in the life-history cycle of the pathogen. To study evolution problems where the host population size is changing, measures like the ultimate proliferation rate must be used. A third measure of reproductive success, which combines properties of both the basic reproductive number and the ultimate proliferation rate, is the discounted reproductive number . The discounted reproductive number is a measure of reproductive success that is an individual’s expected lifetime offspring production discounted by the background population growth rate. Here, we draw attention to the discounted reproductive number by providing an explicit definition and a systematic application framework. We describe how the discounted reproductive number overcomes the limitations of both the standard reproductive numbers and proliferation rates, and show that is closely connected to Fisher’s reproductive values for different life-history stages PMID:19364158

Tracking the Discount: Tuition Discount Rates, Net Tuition Revenue, and Efforts to Inform Institutional Practices. Professional File. Article 133, Fall 2013

ERIC Educational Resources Information Center

Davis, Natalie Pullaro; Redd, Kenneth E.

2013-01-01

This article uses findings from the 2012 Tuition Discounting Study (TDS) conducted by the National Association of College and University Business Officers (NACUBO) to provide a framework for institutional researchers to develop and adapt their own custom tuition discounting definitions and formulas. Under tuition discounting, colleges and…

Discounting the future: influence of the economic model.

PubMed Central

West, R R

1996-01-01

OBJECTIVE: To consider the effect of the economic discount rate on health care policy and the rationale for discounting the collective future of society generally. DESIGN: A review of the concept of discounting the future vis à vis the present from the points of view of individuals (who pass on) and of societies (that continue) and reconsideration of the application of discounting to typical public health scenarios. SETTING: A public health service, within a basically stable society, which can reasonably anticipate a nearly certain future. RESULTS: Discounting necessarily overvalues the "here and now" compared with the future. While applications of discount rates, typical of those employed in health economic studies in recent years, may seem rational in health care programmes directed at middle aged employed people, they do not for the young and the elderly, important recipients of health care. The consequences of discounting do not accord with the aims and objectives of public health. CONCLUSIONS: The "time preferences" of transient individuals within a stable society do not provide a rational basis for time preference of a stable society collectively. Discounting inevitably encourages "short termism" and hence biases public policy decision making. The neoclassical theory that gave rise to the concept of discounting requires revision. PMID:8935452

Discounting the future: influence of the economic model.

PubMed

West, R R

1996-06-01

To consider the effect of the economic discount rate on health care policy and the rationale for discounting the collective future of society generally. A review of the concept of discounting the future vis à vis the present from the points of view of individuals (who pass on) and of societies (that continue) and reconsideration of the application of discounting to typical public health scenarios. A public health service, within a basically stable society, which can reasonably anticipate a nearly certain future. Discounting necessarily overvalues the "here and now" compared with the future. While applications of discount rates, typical of those employed in health economic studies in recent years, may seem rational in health care programmes directed at middle aged employed people, they do not for the young and the elderly, important recipients of health care. The consequences of discounting do not accord with the aims and objectives of public health. The "time preferences" of transient individuals within a stable society do not provide a rational basis for time preference of a stable society collectively. Discounting inevitably encourages "short termism" and hence biases public policy decision making. The neoclassical theory that gave rise to the concept of discounting requires revision.

How we value the future affects our desire to learn.

PubMed

Moore, Alana L; Hauser, Cindy E; McCarthy, Michael A

2008-06-01

Active adaptive management is increasingly advocated in natural resource management and conservation biology. Active adaptive management looks at the benefit of employing strategies that may be suboptimal in the near term but which may provide additional information that will facilitate better management in future years. However, when comparing management policies it is traditional to weigh future rewards geometrically (at a constant discount rate) which results in far-distant rewards making a negligible contribution to the total benefit. Under such a discounting scheme active adaptive management is rarely of much benefit, especially if learning is slow. A growing number of authors advocate the use of alternative forms of discounting when evaluating optimal strategies for long-term decisions which have a social component. We consider a theoretical harvested population for which the recovery rate from an unharvestably small population size is unknown and look at the effects on the benefit of experimental management when three different forms of discounting are employed. Under geometric discounting, with a discount rate of 5% per annum, managing to learn actively had little benefit. This study demonstrates that discount functions which weigh future rewards more heavily result in more conservative harvesting strategies, but do not necessarily encourage active learning. Furthermore, the optimal management strategy is not equivalent to employing geometric discounting at a lower rate. If alternative discount functions are made mandatory in calculating optimal management strategies for environmental management then this will affect the structure of optimal management regimes and change when and how much we are willing to invest in learning.

Delay discounting rates: a strong prognostic indicator of smoking relapse.

PubMed

Sheffer, Christine E; Christensen, Darren R; Landes, Reid; Carter, Larry P; Jackson, Lisa; Bickel, Warren K

2014-11-01

Recent evidence suggests that several dimensions of impulsivity and locus of control are likely to be significant prognostic indicators of relapse. One-hundred and thirty-one treatment seeking smokers were enrolled in six weeks of multi-component cognitive-behavioral therapy with eight weeks of nicotine replacement therapy. Cox proportional hazard regressions were used to model days to relapse with each of the following: delay discounting of $100, delay discounting of $1000, six subscales of the Barratt Impulsiveness Scale (BIS), Rotter's Locus of Control (RLOC), Fagerstrom's Test for Nicotine Dependence (FTND), and the Perceived Stress Scale (PSS). Hazard ratios for a one standard deviation increase were estimated with 95% confidence intervals for each explanatory variable. Likelihood ratios were used to examine the level of association with days to relapse for different combinations of the explanatory variables while accounting for nicotine dependence and stress level. These analyses found that the $100 delay discounting rate had the strongest association with days to relapse. Further, when discounting rates were combined with the FTND and PSS, the associations remained significant. When the other measures were combined with the FTND and PSS, their associations with relapse non-significant. These findings indicate that delay discounting is independently associated with relapse and adds to what is already accounted for by nicotine dependence and stress level. They also signify that delay discounting is a productive new target for enhancing treatment for tobacco dependence. Consequently, adding an intervention designed to decrease discounting rates to a comprehensive treatment for tobacco dependence has the potential to decrease relapse rates. Copyright © 2014 Elsevier Ltd. All rights reserved.

The date-delay framing effect in temporal discounting depends on substance abuse.

PubMed

Klapproth, Florian

2012-07-01

In the present study, individuals with substance use disorders (n=30) and non-addicted controls (n=30) were presented with a delay-discounting task with time being described either as dates or as temporal intervals. Three main results were obtained. First, in both groups reward size had a large impact on discounting future rewards, with discount rates becoming larger with smaller reward sizes. Second, participants discounted future rewards less strongly when their time of delivery was presented as a date instead of a temporal distance. Third, whereas discount rates of individuals with substance use disorders varied substantially with regard to the presentation of time in the task, the controls changed their choices depending on time presentation only slightly. Copyright © 2012 Elsevier B.V. All rights reserved.

Tuition Discounting through Unfunded Institutional Aid at Private Baccalaureate Colleges

ERIC Educational Resources Information Center

Martin, Jeremy Paul

2012-01-01

Colleges and universities discount tuition by providing institutional aid to reduce the actual amount paid by a student. Discount rates are substantial and continue to increase, particularly at private institutions. Funded institutional discounts are linked to gifts or endowment income restricted to financial aid. Unfunded institutional discounts…

Delay and probability discounting of sexual and monetary outcomes in individuals with cocaine use disorders and matched controls.

PubMed

Johnson, Matthew W; Johnson, Patrick S; Herrmann, Evan S; Sweeney, Mary M

2015-01-01

Individuals with cocaine use disorders are disproportionately affected by HIV/AIDS, partly due to higher rates of unprotected sex. Recent research suggests delay discounting of condom use is a factor in sexual HIV risk. Delay discounting is a behavioral economic concept describing how delaying an event reduces that event's value or impact on behavior. Probability discounting is a related concept describing how the uncertainty of an event decreases its impact on behavior. Individuals with cocaine use disorders (n = 23) and matched non-cocaine-using controls (n = 24) were compared in decision-making tasks involving hypothetical outcomes: delay discounting of condom-protected sex (Sexual Delay Discounting Task), delay discounting of money, the effect of sexually transmitted infection (STI) risk on likelihood of condom use (Sexual Probability Discounting Task), and probability discounting of money. The Cocaine group discounted delayed condom-protected sex (i.e., were more likely to have unprotected sex vs. wait for a condom) significantly more than controls in two of four Sexual Delay Discounting Task partner conditions. The Cocaine group also discounted delayed money (i.e., preferred smaller immediate amounts over larger delayed amounts) significantly more than controls. In the Sexual Probability Discounting Task, both groups showed sensitivity to STI risk, however the groups did not differ. The Cocaine group did not consistently discount probabilistic money more or less than controls. Steeper discounting of delayed, but not probabilistic, sexual outcomes may contribute to greater rates of sexual HIV risk among individuals with cocaine use disorders. Probability discounting of sexual outcomes may contribute to risk of unprotected sex in both groups. Correlations showed sexual and monetary results were unrelated, for both delay and probability discounting. The results highlight the importance of studying specific behavioral processes (e.g., delay and probability discounting) with respect to specific outcomes (e.g., monetary and sexual) to understand decision making in problematic behavior.

Delay and Probability Discounting of Sexual and Monetary Outcomes in Individuals with Cocaine Use Disorders and Matched Controls

PubMed Central

Johnson, Matthew W.; Johnson, Patrick S.; Herrmann, Evan S.; Sweeney, Mary M.

2015-01-01

Individuals with cocaine use disorders are disproportionately affected by HIV/AIDS, partly due to higher rates of unprotected sex. Recent research suggests delay discounting of condom use is a factor in sexual HIV risk. Delay discounting is a behavioral economic concept describing how delaying an event reduces that event’s value or impact on behavior. Probability discounting is a related concept describing how the uncertainty of an event decreases its impact on behavior. Individuals with cocaine use disorders (n = 23) and matched non-cocaine-using controls (n = 24) were compared in decision-making tasks involving hypothetical outcomes: delay discounting of condom-protected sex (Sexual Delay Discounting Task), delay discounting of money, the effect of sexually transmitted infection (STI) risk on likelihood of condom use (Sexual Probability Discounting Task), and probability discounting of money. The Cocaine group discounted delayed condom-protected sex (i.e., were more likely to have unprotected sex vs. wait for a condom) significantly more than controls in two of four Sexual Delay Discounting Task partner conditions. The Cocaine group also discounted delayed money (i.e., preferred smaller immediate amounts over larger delayed amounts) significantly more than controls. In the Sexual Probability Discounting Task, both groups showed sensitivity to STI risk, however the groups did not differ. The Cocaine group did not consistently discount probabilistic money more or less than controls. Steeper discounting of delayed, but not probabilistic, sexual outcomes may contribute to greater rates of sexual HIV risk among individuals with cocaine use disorders. Probability discounting of sexual outcomes may contribute to risk of unprotected sex in both groups. Correlations showed sexual and monetary results were unrelated, for both delay and probability discounting. The results highlight the importance of studying specific behavioral processes (e.g., delay and probability discounting) with respect to specific outcomes (e.g., monetary and sexual) to understand decision making in problematic behavior. PMID:26017273

Effect of discounting on estimation of benefits determined by hepatitis C treatment.

PubMed

Messori, Andrea; Fadda, Valeria; Maratea, Dario; Trippoli, Sabrina

2012-06-21

The combination of either boceprevir or telaprevir with ribavirin and interferon (triple therapy) has been shown to be more effective than ribavirin+interferon (dual therapy) for the treatment of genotype 1 hepatitis C. Since the benefit of these treatments takes place after years, simulation models are needed to predict long-term outcomes. In simulation models, the choice of different values of yearly discount rates (e.g., 6%, 3.5%, 2%, 1.5% or 0%) influences the results, but no studies have specifically addressed this issue. We examined this point by determining the long-term benefits under different conditions on the basis of standard modelling and using quality-adjusted life years (QALYs) to quantify the benefits. In our base case scenario, we compared the long-term benefit between patients given a treatment with a 40% sustained virologic response (SVR) (dual therapy) and patients given a treatment with a 70% SVR (triple therapy), and we then examined how these specific yearly discount rates influenced the incremental benefit. The gain between a 70% SVR and a 40% SVR decreased from 0.45 QALYs with a 0% discount rate to 0.22 QALYs with a 6% discount rate (ratio between the two values = 2.04). Testing the other discounting assumptions confirmed that the discount rate has a marked impact on the magnitude of the model-estimated incremental benefit. In conclusion, the results of our analysis can be helpful to better interpret cost-effectiveness studies evaluating new treatment for hepatitis C.

Do higher-priced generic medicines enjoy a competitive advantage under reference pricing?

PubMed

Puig-Junoy, Jaume

2012-11-01

In many countries with generic reference pricing, generic producers and distributors compete by means of undisclosed discounts offered to pharmacies in order to reduce acquisition costs and to induce them to dispense their generic to patients in preference over others. The objective of this article is to test the hypothesis that under prevailing reference pricing systems for generic medicines, those medicines sold at a higher consumer price may enjoy a competitive advantage. Real transaction prices for 179 generic medicines acquired by pharmacies in Spain have been used to calculate the discount rate on acquisition versus reimbursed costs to pharmacies. Two empirical hypotheses are tested: the discount rate at which pharmacies acquire generic medicines is higher for those pharmaceutical presentations for which there are more generic competitors; and, the discount rate at which pharmacies acquire generic medicines is higher for those pharmaceutical forms for which the consumer price has declined less in relation to the consumer price of the brand drug before generic entry (higher-priced generic medicines). An average discount rate of 39.3% on acquisition versus reimbursed costs to pharmacies has been observed. The magnitude of the discount positively depends on the number of competitors in the market. The higher the ratio of the consumer price of the generic to that of the brand drug prior to generic entry (i.e. the smaller the price reduction of the generic in relation to the brand drug), the larger the discount rate. Under reference pricing there is intense price competition among generic firms in the form of unusually high discounts to pharmacies on official ex-factory prices reimbursed to pharmacies. However, this effect is highly distorting because it favours those medicines with a higher relative price in relation to the brand price before generic entry.

Contexts and Individual Differences as Influences on Consumers' Delay Discounting

ERIC Educational Resources Information Center

Foxall, Gordon R.; Doyle, John R.; Yani-de-Soriano, Mirella; Wells, Victoria K.

2011-01-01

Delay discounting is often considered a universal feature of human choice behavior, but there is controversy over whether it is an individual difference that reflects an underlying psychological trait or a domain-specific behavior. Trait influence on discounting would manifest in (a) highly correlated discount rates for all decisions, regardless…

Social time preferences for health and money elicited with a choice experiment.

PubMed

Meerding, Willem Jan; Bonsel, Gouke J; Brouwer, Werner B F; Stuifbergen, Marja C; Essink-Bot, Marie-Louise

2010-01-01

In economic evaluations future health and monetary outcomes are commonly discounted at equal and constant rates. The theoretical foundation of this practice is being debated and appropriate discount rates for costs and health effects are sought. Here, we have derived social discount rates for health, money, and environmental benefits by means of a choice experiment. All choices were framed from a social perspective. We investigated differences in time preference by domain (health, monetary benefits, environmental benefits), time delay (5, 10, and 40 years), and respondent characteristics. Respondents were 173 health-care professionals and 34 health policymakers. Choice titration was used to determine when the respondent was indifferent between future and present benefits. At least two-thirds of respondents preferred an intervention with immediate benefits to delayed benefits in the different domains. The median (mean) yearly discount rates for health benefits were 2.7% (10.7%), 1.3% (3.5%), and 1.1% (2.3%) assuming a 5, 10, and 40 years delay, respectively. Social time preference for monetary benefits was significantly stronger, with median (mean) yearly discount rates of 6.6% (18.7%) and 4.8% (11.2%) assuming a 5 and 10 years delay, respectively. The social time preference with regard to environmental benefits was similar to the monetary benefits. Social time preference for the different domains was significantly correlated at the individual level. The empirically derived social time preference is in line with current theoretical arguments for a lower discount rate for health benefits than for monetary benefits. Moreover, the implied median discount rates for health were lower than those commonly used or advocated in guidelines.

Temporal discounting across three psychiatric disorders: Anorexia nervosa, obsessive compulsive disorder, and social anxiety disorder.

PubMed

Steinglass, Joanna E; Lempert, Karolina M; Choo, Tse-Hwei; Kimeldorf, Marcia B; Wall, Melanie; Walsh, B Timothy; Fyer, Abby J; Schneier, Franklin R; Simpson, H Blair

2017-05-01

Temporal discounting refers to the tendency for rewards to lose value as the expected delay to receipt increases. Individuals with anorexia nervosa (AN) have been found to show reduced temporal discounting rates, indicating a greater preference for delayed rewards compared to healthy peers. Obsessive-compulsive disorder (OCD) and social anxiety disorder (SAD) commonly co-occur with AN, and anxiety has been related to development and prognosis of AN. We examined whether reduced temporal discounting is present across these potentially related disorders, and explored the relationship between temporal discounting and anxiety transdiagnostically. One hundred ninety six individuals (75 healthy controls (HC); 50 OCD; 27 AN; 44 SAD) completed two temporal discounting tasks in which they chose between smaller-sooner and larger-later monetary rewards. Two measures of discounting-discount rate and discount factor-were compared between diagnostic groups, and associations with anxious traits were examined. Individuals with AN showed decreased temporal discounting compared to HC. OCD and SAD groups did not differ significantly from HC. Across the sample, anxiety was associated with decreased discounting; more anxious individuals showed a greater preference for delayed reward. We replicated the findings that individuals with AN show an increased preference for delayed reward relative to HC and that individuals with OCD do not differ from HC. We also showed that individuals with SAD do not differ from HC in discounting. Across this large sample, two measures of anxious temperament were associated with temporal discounting. These data raise new questions about the relationship between this dimensional trait and psychopathology. © 2016 Wiley Periodicals, Inc.

Modeling the effect of reward amount on probability discounting.

PubMed

Myerson, Joel; Green, Leonard; Morris, Joshua

2011-03-01

The present study with college students examined the effect of amount on the discounting of probabilistic monetary rewards. A hyperboloid function accurately described the discounting of hypothetical rewards ranging in amount from $20 to $10,000,000. The degree of discounting increased continuously with amount of probabilistic reward. This effect of amount was not due to changes in the rate parameter of the discounting function, but rather was due to increases in the exponent. These results stand in contrast to those observed with the discounting of delayed monetary rewards, in which the degree of discounting decreases with reward amount due to amount-dependent decreases in the rate parameter. Taken together, this pattern of results suggests that delay and probability discounting reflect different underlying mechanisms. That is, the fact that the exponent in the delay discounting function is independent of amount is consistent with a psychophysical scaling interpretation, whereas the finding that the exponent of the probability-discounting function is amount-dependent is inconsistent with such an interpretation. Instead, the present results are consistent with the idea that the probability-discounting function is itself the product of a value function and a weighting function. This idea was first suggested by Kahneman and Tversky (1979), although their prospect theory does not predict amount effects like those observed. The effect of amount on probability discounting was parsimoniously incorporated into our hyperboloid discounting function by assuming that the exponent was proportional to the amount raised to a power. The amount-dependent exponent of the probability-discounting function may be viewed as reflecting the effect of amount on the weighting of the probability with which the reward will be received.

Heaven can wait. How religion modulates temporal discounting.

PubMed

Paglieri, Fabio; Borghi, Anna M; Colzato, Lorenza S; Hommel, Bernhard; Scorolli, Claudia

2013-11-01

Evidence suggests that religious systems have specific effects on attentional and action control processes. The present study investigated whether religions also modulate choices that involve higher-order knowledge and the delay of gratification in particular. We tested Dutch Calvinists, Italian Catholics, and Atheists from both countries/cultures using an intertemporal choice task where participants could choose between a small immediate and a larger delayed monetary reward. Based on the Calvinist theory of predestination and the Catholic concept of a cycle of sin-confession-expiation, we predicted a reduced delay tolerance, i.e., higher discount rate, for Italian Catholics than for Dutch Calvinists, and intermediate rates for the two atheist groups. Analyses of discount rates support our hypotheses. We also found a magnitude effect on temporal discounting and faster responses for large than for small rewards across religions and countries/cultures. We conclude that temporal discounting is specifically modulated by religious upbringing rather than by generic cultural differences.

Positive mood effects on delay discounting.

PubMed

Hirsh, Jacob B; Guindon, Alex; Morisano, Dominique; Peterson, Jordan B

2010-10-01

Delay discounting is the process by which the value of an expected reward decreases as the delay to obtaining that reward increases. Individuals with higher discounting rates tend to prefer smaller immediate rewards over larger delayed rewards. Previous research has indicated that personality can influence an individual's discounting rates, with higher levels of Extraversion predicting a preference for immediate gratification. The current study examined how this relationship would be influenced by situational mood inductions. While main effects were observed for both Extraversion and cognitive ability in the prediction of discounting rates, a significant interaction was also observed between Extraversion and positive affect. Extraverted individuals were more likely to prefer an immediate reward when first put in a positive mood. Extraverts thus appear particularly sensitive to impulsive, incentive-reward-driven behavior by temperament and by situational factors heightening positive affect. (PsycINFO Database Record (c) 2010 APA, all rights reserved).

47 CFR 51.611 - Interim wholesale rates.

Code of Federal Regulations, 2010 CFR

2010-10-01

... selecting a particular discount rate. The same discount percentage rate shall be used to establish interim... 47 Telecommunication 3 2010-10-01 2010-10-01 false Interim wholesale rates. 51.611 Section 51.611... Resale § 51.611 Interim wholesale rates. (a) If a state commission cannot, based on the information...

Enhanced Neural Responses to Imagined Primary Rewards Predict Reduced Monetary Temporal Discounting.

PubMed

Hakimi, Shabnam; Hare, Todd A

2015-09-23

The pervasive tendency to discount the value of future rewards varies considerably across individuals and has important implications for health and well-being. Here, we used fMRI with human participants to examine whether an individual's neural representation of an imagined primary reward predicts the degree to which the value of delayed monetary payments is discounted. Because future rewards can never be experienced at the time of choice, imagining or simulating the benefits of a future reward may play a critical role in decisions between alternatives with either immediate or delayed benefits. We found that enhanced ventromedial prefrontal cortex response during imagined primary reward receipt was correlated with reduced discounting in a separate monetary intertemporal choice task. Furthermore, activity in enhanced ventromedial prefrontal cortex during reward imagination predicted temporal discounting behavior both between- and within-individual decision makers with 62% and 73% mean balanced accuracy, respectively. These results suggest that the quality of reward imagination may impact the degree to which future outcomes are discounted. Significance statement: We report a novel test of the hypothesis that an important factor influencing the discount rate for future rewards is the quality with which they are imagined or estimated in the present. Previous work has shown that temporal discounting is linked to individual characteristics ranging from general intelligence to the propensity for addiction. We demonstrate that individual differences in a neurobiological measure of primary reward imagination are significantly correlated with discounting rates for future monetary payments. Moreover, our neurobiological measure of imagination can be used to accurately predict choice behavior both between and within individuals. These results suggest that improving reward imagination may be a useful therapeutic target for individuals whose high discount rates promote detrimental behaviors. Copyright © 2015 the authors 0270-6474/15/3513103-07$15.00/0.

Temporal discounting and heart rate reactivity to stress.

PubMed

Diller, James W; Patros, Connor H G; Prentice, Paula R

2011-07-01

Temporal discounting is the reduction of the value of a reinforcer as a function of increasing delay to its presentation. Impulsive individuals discount delayed consequences more rapidly than self-controlled individuals, and impulsivity has been related to substance abuse, gambling, and other problem behaviors. A growing body of literature has identified biological correlates of impulsivity, though little research to date has examined relations between delay discounting and markers of poor health (e.g., cardiovascular reactivity to stress). We evaluated the relation between one aspect of impulsivity, measured using a computerized temporal discounting task, and heart rate reactivity, measured as a change in heart rate from rest during a serial subtraction task. A linear regression showed that individuals who were more reactive to stress responded more impulsively (i.e., discounted delayed reinforcers more rapidly). When results were stratified by gender, the effect was observed for females, but not for males. This finding supports previous research on gender differences in cardiovascular reactivity and suggests that this type of reactivity may be an important correlate of impulsive behavior. Copyright © 2011 Elsevier B.V. All rights reserved.

The role of individual time preferences in health behaviors among hypertensive adults: a pilot study.

PubMed

Axon, R Neal; Bradford, W David; Egan, Brent M

2009-01-01

An economic framework incorporating patients' time-value preferences may help explain individual variation in preventive health behaviors. We conducted a pilot study to examine the relationship between health discount rates and preventive health practices. A group of 422 hypertensive individuals were assessed by written survey regarding their actual or likely preventive health behaviors, and they were posed a series of time preference questions. Regression methods that account for the interval nature of the time preference responses were used to estimate individual respondents' discount rates. Dichotomous regression analyses (using probit models) adjusted for gender, age, race, income, and health status revealed mean health discount rates of 0.438 or (43.8%) per year (standard deviation [SD], 0.07). Analyses adjusted for age, gender, race, income level, insurance status, and health status indicated that a 1% increase in discount rate increased the likelihood respondents would not check their BP by 3.5% (P = .003), not alter diet and exercise habits by 0.6% (P = .004), and not follow doctors' treatment plans by 1.6% (P = .05). Compared to the four lowest quintiles, patients in the highest quintile of discount rates (annualized discount rates between 50% and 57.2%) tended to have lower likelihood of ever checking blood pressure (BP) at home (42.5% vs. 47.6%; P = .36), of not using their physician's office for sick care (16.5% vs. 27.6%; P = .01), and of not altering their diet and exercise habits in response to a diagnosis of hypertension (6.8% vs. 12.4%; P = .07). These preliminary data indicate that the degree to which individuals discount the future has a significant impact on their health behaviors.

Temporal discounting across three psychiatric disorders: Anorexia nervosa, obsessive compulsive disorder, and social anxiety disorder

PubMed Central

Steinglass, Joanna E.; Lempert, Karolina M.; Choo, Tse-Hwei; Kimeldorf, Marcia B.; Wall, Melanie; Walsh, B. Timothy; Fyer, Abby J.; Schneier, Franklin R.; Simpson, H. Blair

2018-01-01

Background Temporal discounting refers to the tendency for rewards to lose value as the expected delay to receipt increases. Individuals with anorexia nervosa (AN) have been found to show reduced temporal discounting rates, indicating a greater preference for delayed rewards compared to healthy peers. Obsessive–compulsive disorder (OCD) and social anxiety disorder (SAD) commonly co-occur with AN, and anxiety has been related to development and prognosis of AN. We examined whether reduced temporal discounting is present across these potentially related disorders, and explored the relationship between temporal discounting and anxiety trans-diagnostically. Methods One hundred ninety six individuals (75 healthy controls (HC); 50 OCD; 27 AN; 44 SAD) completed two temporal discounting tasks in which they chose between smaller-sooner and larger-later monetary rewards. Two measures of discounting—discount rate and discount factor—were compared between diagnostic groups, and associations with anxious traits were examined. Results Individuals with AN showed decreased temporal discounting compared to HC. OCD and SAD groups did not differ significantly from HC. Across the sample, anxiety was associated with decreased discounting; more anxious individuals showed a greater preference for delayed reward. Conclusions We replicated the findings that individuals with AN show an increased preference for delayed reward relative to HC and that individuals with OCD do not differ from HC. We also showed that individuals with SAD do not differ from HC in discounting. Across this large sample, two measures of anxious temperament were associated with temporal discounting. These data raise new questions about the relationship between this dimensional trait and psychopathology. PMID:28009473

Discounting of food, sex, and money.

PubMed

Holt, Daniel D; Newquist, Matthew H; Smits, Rochelle R; Tiry, Andrew M

2014-06-01

Discounting is a useful framework for understanding choice involving a range of delayed and probabilistic outcomes (e.g., money, food, drugs), but relatively few studies have examined how people discount other commodities (e.g., entertainment, sex). Using a novel discounting task, where the length of a line represented the value of an outcome and was adjusted using a staircase procedure, we replicated previous findings showing that individuals discount delayed and probabilistic outcomes in a manner well described by a hyperbola-like function. In addition, we found strong positive correlations between discounting rates of delayed, but not probabilistic, outcomes. This suggests that discounting of delayed outcomes may be relatively predictable across outcome types but that discounting of probabilistic outcomes may depend more on specific contexts. The generality of delay discounting and potential context dependence of probability discounting may provide important information regarding factors contributing to choice behavior.

Discounting and decision making in the economic evaluation of health-care technologies.

PubMed

Claxton, Karl; Paulden, Mike; Gravelle, Hugh; Brouwer, Werner; Culyer, Anthony J

2011-01-01

Discounting costs and health benefits in cost-effectiveness analysis has been the subject of recent debate - some authors suggesting a common rate for both and others suggesting a lower rate for health. We show how these views turn on key judgments of fact and value: on whether the social objective is to maximise discounted health outcomes or the present consumption value of health; on whether the budget for health care is fixed; on the expected growth in the cost-effectiveness threshold; and on the expected growth in the consumption value of health. We demonstrate that if the budget for health care is fixed and decisions are based on incremental cost effectiveness ratios (ICERs), discounting costs and health gains at the same rate is correct only if the threshold remains constant. Expecting growth in the consumption value of health does not itself justify differential rates but implies a lower rate for both. However, whether one believes that the objective should be the maximisation of the present value of health or the present consumption value of health, adopting the social time preference rate for consumption as the discount rate for costs and health gains is valid only under strong and implausible assumptions about values and facts. 2010 John Wiley & Sons, Ltd.

Additional studies of competition and performance in OCS oil and gas sales, 1954-1975

USGS Publications Warehouse

Mead, Walter J.; Sorensen, Philip Edward

1980-01-01

Economic rent is commonly defined in economics as any payment to a factor of production in excess of the minimum necessary to engage it in production. In the case of OCS lands owned by the federal government, the minimum supply price necessary to induce the federal government to lease production rights would be the costs of establishing and administering lease contracts. Assuming, for the sake of simplicity, that these costs are small enough to be ignored in the analysis, all payments to the federal government for use of OCS lands are forms of economic rent. An ideal leasing system should transfer the full amount of economic rent implicit in OCS resources to the federal government. Whether such a complete transfer of economic rent occurs depends upon the conditions of competition in the market for OCS leases. The principal means for capturing economic rent under the bidding system employed by the federal government over the years 1954-1969 are the bonus paid by the highest bidder and a royalty payment which has historically been fixed at 16 2/3 percent of gross production value. Of less importance is an annual rental payment, usually about \\$3.00 per acre, which is paid as long as a tract under lease is not producing.In the sections which follow, major factors affecting the capture of economic rent by the federal government are discussed and data are presented which demonstrate the importance of the different means used. In computing the amounts of economic rent captured by the federal government, the discounted cash flow technique is employed. This requires selection of an appropriate discount rate, in contrast to the internal rate of return analysis used in Part I, above.

Alternative Fuels Data Center

Science.gov Websites

Charging Rate Incentive - Tucson Electric Power (TEP) TEP offers a discounted residential service time-of-use (TOU) rate during off-peak periods to customers who own and operate a PEV. The discount is

Trading Later Rewards for Current Pleasure: Pornography Consumption and Delay Discounting.

PubMed

Negash, Sesen; Sheppard, Nicole Van Ness; Lambert, Nathaniel M; Fincham, Frank D

2016-01-01

Internet pornography is a multi-billion-dollar industry that has grown increasingly accessible. Delay discounting involves devaluing larger, later rewards in favor of smaller, more immediate rewards. The constant novelty and primacy of sexual stimuli as particularly strong natural rewards make Internet pornography a unique activator of the brain's reward system, thereby having implications for decision-making processes. Based on theoretical studies of evolutionary psychology and neuroeconomics, two studies tested the hypothesis that consuming Internet pornography would relate to higher rates of delay discounting. Study 1 used a longitudinal design. Participants completed a pornography use questionnaire and a delay discounting task at Time 1 and then again four weeks later. Participants reporting higher initial pornography use demonstrated a higher delay discounting rate at Time 2, controlling for initial delay discounting. Study 2 tested for causality with an experimental design. Participants were randomly assigned to abstain from either their favorite food or pornography for three weeks. Participants who abstained from pornography use demonstrated lower delay discounting than participants who abstained from their favorite food. The finding suggests that Internet pornography is a sexual reward that contributes to delay discounting differently than other natural rewards. Theoretical and clinical implications of these studies are highlighted.

Temporal discounting in major depressive disorder.

PubMed

Pulcu, E; Trotter, P D; Thomas, E J; McFarquhar, M; Juhasz, G; Sahakian, B J; Deakin, J F W; Zahn, R; Anderson, I M; Elliott, R

2014-07-01

Major depressive disorder (MDD) is associated with abnormalities in financial reward processing. Previous research suggests that patients with MDD show reduced sensitivity to frequency of financial rewards. However, there is a lack of conclusive evidence from studies investigating the evaluation of financial rewards over time, an important aspect of reward processing that influences the way people plan long-term investments. Beck's cognitive model posits that patients with MDD hold a negative view of the future that may influence the amount of resources patients are willing to invest into their future selves. We administered a delay discounting task to 82 participants: 29 healthy controls, 29 unmedicated participants with fully remitted MDD (rMDD) and 24 participants with current MDD (11 on medication). Patients with current MDD, relative to remitted patients and healthy subjects, discounted large-sized future rewards at a significantly higher rate and were insensitive to changes in reward size from medium to large. There was a main effect of clinical group on discounting rates for large-sized rewards, and discounting rates for large-sized rewards correlated with severity of depressive symptoms, particularly hopelessness. Higher discounting of delayed rewards in MDD seems to be state dependent and may be a reflection of depressive symptoms, specifically hopelessness. Discounting distant rewards at a higher rate means that patients are more likely to choose immediate financial options. Such impairments related to long-term investment planning may be important for understanding value-based decision making in MDD, and contribute to ongoing functional impairment.

Unhealthy diets, obesity and time discounting: a systematic literature review and network analysis

PubMed Central

Reeves, Aaron; McKee, Martin; Galea, Gauden; Stuckler, David

2016-01-01

Summary There is an increasing policy commitment to address the avoidable burdens of unhealthy diet, overweight and obesity. However, to design effective policies, it is important to understand why people make unhealthy dietary choices. Research from behavioural economics suggests a critical role for time discounting, which describes how people's value of a reward, such as better health, decreases with delay to its receipt. We systematically reviewed the literature on the relationship of time discounting with unhealthy diets, overweight and obesity in Web of Science and PubMed. We identified 41 studies that met our inclusion criteria as they examined the association between time discount rates and (i) unhealthy food consumption; (ii) overweight and (iii) response to dietary and weight loss interventions. Nineteen out of 25 cross‐sectional studies found time discount rates positively associated with overweight, obesity and unhealthy diets. Experimental studies indicated that lower time discounting was associated with greater weight loss. Findings varied by how time discount rates were measured; stronger results were observed for food than monetary‐based measurements. Network co‐citation analysis revealed a concentration of research in nutrition journals. Overall, there is moderate evidence that high time discounting is a significant risk factor for unhealthy diets, overweight and obesity and may serve as an important target for intervention. © 2016 The Authors Obesity Reviews published by John Wiley & Sons Ltd on behalf of International Association for the Study of Obesity (IASO) PMID:27256685

78 FR 65430 - Notice of Rate To Be Used for Federal Debt Collection, and Discount and Rebate Evaluation

Federal Register 2010, 2011, 2012, 2013, 2014

2013-10-31

... evaluating the cost-effectiveness of a cash discount. In addition, this rate is to be used in determining... for use in connection with Federal Cash Management systems and is based on investment rates set for...

Delay discounting as a function of intrinsic/extrinsic religiousness, religious fundamentalism, and regular church attendance.

PubMed

Weatherly, Jeffrey N; Plumm, Karyn M

2012-01-01

Delay discounting occurs when the subjective value of an outcome decreases because its delivery is delayed. Previous research has suggested that the rate at which some, but not all, outcomes are discounted varies as a function of regular church attendance. In the present study, 509 participants completed measures of intrinsic religiousness, extrinsic religiousness, religious fundamentalism, and whether they regularly attended church services. They then completed a delay-discounting task involving five outcomes. Although religiousness was not a significant predictor of discounting for all outcomes, participants scoring high in intrinsic religiousness tended to display less delay discounting than participants scoring low. Likewise, participants scoring high in religious fundamentalism tended to display more delay discounting than participants scoring low. These results partially replicate previous ones in showing that the process of discounting may vary as a function of religiousness. The results also provide some direction for those interested in altering how individuals discount.

26 CFR 1.148-5A - Yield and valuation of investments.

Code of Federal Regulations, 2010 CFR

2010-04-01

.... For this purpose, present value is computed using the taxable discount rate used by the parties to compute the commission or, if not readily ascertainable, a reasonable taxable discount rate. [T.D. 8538...

78 FR 6140 - Discount Rates for Cost-Effectiveness Analysis of Federal Programs

Federal Register 2010, 2011, 2012, 2013, 2014

2013-01-29

... OFFICE OF MANAGEMENT AND BUDGET Discount Rates for Cost-Effectiveness Analysis of Federal Programs AGENCY: Office of Management and Budget. ACTION: Revisions to Appendix C of OMB Circular A-94. [[Page 6141

Handling time in economic evaluation studies.

PubMed

Permsuwan, Unchalee; Guntawongwan, Kansinee; Buddhawongsa, Piyaluk

2014-05-01

The discount rates and time horizons used in a health technology assessment (HTA) can have a significant impact on the results, and thus the prioritization of technologies. Therefore, it is important that clear guidance be provided on the appropriate discount rates for cost and health effect and appropriate time horizons. In this paper we conduct a review of relevant case studies and guidelines and provide guidance for all researchers conducting economic evaluations of health technologies in the Thai context. A uniform discount rate of 3% is recommended for both costs and health effects in base case analyses. A sensitivity analysis should also be conducted, with a discount range of 0-6%. For technologies where the effects are likely to sustain for at least 30y ears, a rate of 4% for costs and 2% for health effects is recommended. The time horizon should be long enough to capture the full costs and effects of the programs.

Time preference and its relationship with age, health, and survival probability

PubMed Central

Chao, Li-Wei; Szrek, Helena; Pereira, Nuno Sousa; Pauly, Mark V.

2009-01-01

Although theories from economics and evolutionary biology predict that one's age, health, and survival probability should be associated with one's subjective discount rate (SDR), few studies have empirically tested for these links. Our study analyzes in detail how the SDR is related to age, health, and survival probability, by surveying a sample of individuals in townships around Durban, South Africa. In contrast to previous studies, we find that age is not significantly related to the SDR, but both physical health and survival expectations have a U-shaped relationship with the SDR. Individuals in very poor health have high discount rates, and those in very good health also have high discount rates. Similarly, those with expected survival probability on the extremes have high discount rates. Therefore, health and survival probability, and not age, seem to be predictors of one's SDR in an area of the world with high morbidity and mortality. PMID:20376300

Cost-effectiveness of a potential future Helicobacter pylori vaccine in the Netherlands: the impact of varying the discount rate for health.

PubMed

de Vries, Robin; Klok, Rogier M; Brouwers, Jacobus R B J; Postma, Maarten J

2009-02-05

To estimate the cost-effectiveness of a potential Helicobacter pylori (HP) vaccine for the Dutch situation, we developed a Markov model. Several HP prevalence scenarios were assessed. Additionally, we assessed the impact of the discount rate for health on the outcomes, as this influence can be profound for vaccines. When applying the current discount rate of 1.5% for health, the expected cost-effectiveness of HP vaccination is estimated below the informal Dutch threshold of euro 20,000/LYG when the HP prevalence is assumed > or =20% in the Dutch population. In conclusion, we showed that HP vaccination could possibly be a cost-effective intervention. However, this depends to a large extend on the prevalence of HP in the population. Furthermore, we showed the large impact of the discount rate for health on the cost-effectiveness of a HP vaccination program, illustrative for other vaccination programs.

Incentivizing Decentralized Sanitation: The Role of Discount Rates.

PubMed

Wood, Alison; Blackhurst, Michael; Garland, Jay L; Lawler, Desmond F

2016-06-21

In adoption decisions for decentralized sanitation technologies, two decision makers are involved: the public utility and the individual homeowner. Standard life cycle cost is calculated from the perspective of the utility, which uses a market-based discount rate in these calculations. However, both decision-makers must be considered, including their differing perceptions of the time trade-offs inherent in a stream of costs and benefits. This study uses the discount rate as a proxy for these perceptions and decision-maker preferences. The results in two case studies emphasize the dependence on location of such analyses. Falmouth, Massachusetts, appears to be a good candidate for incentivizing decentralized sanitation while the Allegheny County Sanitary Authority service area in Pennsylvania appears to have no need for similar incentives. This method can be applied to any two-party decision in which the parties are expected to have different discount rates.

Altering impulsive decision making with an acceptance-based procedure.

PubMed

Morrison, Kate L; Madden, Gregory J; Odum, Amy L; Friedel, Jonathan E; Twohig, Michael P

2014-09-01

Delay discounting is one facet of impulsive decision making and involves subjectively devaluing a delayed outcome. Steeply discounting delayed rewards is correlated with substance abuse and other problematic behaviors. To the extent that steep delay discounting underlies these clinical disorders, it would be advantageous to find psychosocial avenues for reducing delay discounting. Acceptance-based interventions may prove useful as they may help to decrease the distress that arises while waiting for a delayed outcome. The current study was conducted to determine if a 60-90 minute acceptance-based training would change delay discounting rates among 30 undergraduate university students in comparison to a waitlist control. Measures given at pre- and posttraining included a hypothetical monetary delay discounting task, the Acceptance and Action Questionnaire-II (AAQ-II), and the Distress Tolerance Scale. Those assigned to the treatment group decreased their discounting of delayed money, but not distress intolerance or psychological inflexibility when compared to the waitlist control group. After the waiting period, the control group received the intervention. Combining all participants' pre- to posttreatment data, the acceptance-based treatment significantly decreased discounting of monetary rewards and increased distress tolerance. The difference in AAQ-II approached significance. Acceptance-based treatments may be a worthwhile option for decreasing delay discounting rates and, consequently, affecting the choices that underlie addiction and other problematic behaviors. Copyright © 2014. Published by Elsevier Ltd.

Tuition Discounting and Socioeconomic Diversity at Larger Private Universities

ERIC Educational Resources Information Center

Reinoehl, Jason K.; Kowalski, Theodore J.

2015-01-01

Tuition discounting is a tactic deployed by many private four-year institutions as a means for enhancing either tuition revenue or institutional image. This study examines associations between "socioeconomic diversity" and two aspects of institutional grants--"freshman discount rate" and "freshman grant recipient discount…

Tuition Discounting in Challenging Times.

ERIC Educational Resources Information Center

Hubbell, Loren Loomis; Lapovsky, Lucie

2002-01-01

The twelfth annual tuition discounting survey by the National Association of College and University Business Officers (NACUBO) revealed that tuition discounts are up slightly; it also provided data on participation rates, grant levels, distribution changes, correlation with endowments, shifts on the horizon, and other significant changes. (EV)

7 CFR 1421.102 - Adjustment of basic loan rates.

Code of Federal Regulations, 2012 CFR

2012-01-01

...-MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS FOR 2008 THROUGH 2012 Marketing Assistance Loans... county marketing assistance loan rate. (2) For farm-stored commodities where the test weight discounts... schedule of discounts, the marketing assistance loan rate shall be reduced to 20 percent of the county loan...

7 CFR 1421.102 - Adjustment of basic loan rates.

Code of Federal Regulations, 2014 CFR

2014-01-01

...-MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS FOR 2008 THROUGH 2012 Marketing Assistance Loans... county marketing assistance loan rate. (2) For farm-stored commodities where the test weight discounts... schedule of discounts, the marketing assistance loan rate shall be reduced to 20 percent of the county loan...

7 CFR 1421.102 - Adjustment of basic loan rates.

Code of Federal Regulations, 2013 CFR

2013-01-01

...-MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS FOR 2008 THROUGH 2012 Marketing Assistance Loans... county marketing assistance loan rate. (2) For farm-stored commodities where the test weight discounts... schedule of discounts, the marketing assistance loan rate shall be reduced to 20 percent of the county loan...

18 CFR 704.39 - Discount rate.

Code of Federal Regulations, 2013 CFR

2013-04-01

... 18 Conservation of Power and Water Resources 2 2013-04-01 2012-04-01 true Discount rate. 704.39 Section 704.39 Conservation of Power and Water Resources WATER RESOURCES COUNCIL PLAN FORMULATION... the Water Resources Council of the rate thus computed. (c) Subject to the provisions of paragraphs (d...

18 CFR 704.39 - Discount rate.

Code of Federal Regulations, 2014 CFR

2014-04-01

... 18 Conservation of Power and Water Resources 2 2014-04-01 2014-04-01 false Discount rate. 704.39 Section 704.39 Conservation of Power and Water Resources WATER RESOURCES COUNCIL PLAN FORMULATION... the Water Resources Council of the rate thus computed. (c) Subject to the provisions of paragraphs (d...

18 CFR 704.39 - Discount rate.

Code of Federal Regulations, 2011 CFR

2011-04-01

... 18 Conservation of Power and Water Resources 2 2011-04-01 2011-04-01 false Discount rate. 704.39 Section 704.39 Conservation of Power and Water Resources WATER RESOURCES COUNCIL PLAN FORMULATION... the Water Resources Council of the rate thus computed. (c) Subject to the provisions of paragraphs (d...

18 CFR 704.39 - Discount rate.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 18 Conservation of Power and Water Resources 2 2010-04-01 2010-04-01 false Discount rate. 704.39 Section 704.39 Conservation of Power and Water Resources WATER RESOURCES COUNCIL PLAN FORMULATION... the Water Resources Council of the rate thus computed. (c) Subject to the provisions of paragraphs (d...

18 CFR 704.39 - Discount rate.

Code of Federal Regulations, 2012 CFR

2012-04-01

... 18 Conservation of Power and Water Resources 2 2012-04-01 2012-04-01 false Discount rate. 704.39 Section 704.39 Conservation of Power and Water Resources WATER RESOURCES COUNCIL PLAN FORMULATION... the Water Resources Council of the rate thus computed. (c) Subject to the provisions of paragraphs (d...

7 CFR 1421.102 - Adjustment of basic loan rates.

Code of Federal Regulations, 2010 CFR

2010-01-01

...-MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS FOR 2008 THROUGH 2012 Marketing Assistance Loans... county marketing assistance loan rate. (2) For farm-stored commodities where the test weight discounts... schedule of discounts, the marketing assistance loan rate shall be reduced to 20 percent of the county loan...

Unhealthy diets, obesity and time discounting: a systematic literature review and network analysis.

PubMed

Barlow, Pepita; Reeves, Aaron; McKee, Martin; Galea, Gauden; Stuckler, David

2016-09-01

There is an increasing policy commitment to address the avoidable burdens of unhealthy diet, overweight and obesity. However, to design effective policies, it is important to understand why people make unhealthy dietary choices. Research from behavioural economics suggests a critical role for time discounting, which describes how people's value of a reward, such as better health, decreases with delay to its receipt. We systematically reviewed the literature on the relationship of time discounting with unhealthy diets, overweight and obesity in Web of Science and PubMed. We identified 41 studies that met our inclusion criteria as they examined the association between time discount rates and (i) unhealthy food consumption; (ii) overweight and (iii) response to dietary and weight loss interventions. Nineteen out of 25 cross-sectional studies found time discount rates positively associated with overweight, obesity and unhealthy diets. Experimental studies indicated that lower time discounting was associated with greater weight loss. Findings varied by how time discount rates were measured; stronger results were observed for food than monetary-based measurements. Network co-citation analysis revealed a concentration of research in nutrition journals. Overall, there is moderate evidence that high time discounting is a significant risk factor for unhealthy diets, overweight and obesity and may serve as an important target for intervention. © 2016 The Authors Obesity Reviews published by John Wiley & Sons Ltd on behalf of International Association for the Study of Obesity (IASO). © 2016 The Authors Obesity Reviews published by John Wiley & Sons Ltd on behalf of International Association for the Study of Obesity (IASO).

Effects of premium discount on workers' compensation claims in agriculture in Finland.

PubMed

Rautiainen, Risto H; Ledolter, Johannes; Sprince, Nancy L; Donham, Kelley J; Burmeister, Leon F; Ohsfeldt, Robert; Reynolds, Stephen J; Phillips, Kirk; Zwerling, Craig

2005-08-01

The objective of this study was to measure changes in injury claim rates after a premium discount program was implemented in the Finnish farmers' workers' compensation insurance. We focused on measures that could indicate whether the changes occurred in the true underlying injury rate, or only in claims reporting. Monthly injury claim rates were constructed at seven disability duration levels from January 1990 to December 2003. We conducted interrupted time series analyses to measure changes in the injury claim rates after the premium discount was implemented on July 1, 1997. Three additional policy change indicators were included in the analyses. The overall injury claim rate decreased 10.2%. Decreases occurred at four severity levels (measured by compensated disability days): 0 days (16.3%), 1-6 days (14.1%), 7-13 days (19.5%), and 14-29 days (8.4%). No changes were observed at higher severity levels. Minor injuries had a seasonal pattern with higher rates in summer months while severe injuries did not have a seasonal pattern. The premium discount decreased the overall claim rate. Decreases were observed in all categories up to 29 disability days. This pattern suggests that under-reporting contributes to the decrease but may not be the only factor. The value of the premium discount is lower than the value of a lost-time claim, so there was no financial reason to under-report lost-time injuries. Under-reporting would be expected to be greatest in the 0 day category, but that was not the case. These observations suggest that in addition to under-reporting, the premium discount may also have some preventive effect. Copyright (c) 2005 Wiley-Liss, Inc.

Cocaine administration dose-dependently increases sexual desire and decreases condom use likelihood: The role of delay and probability discounting in connecting cocaine with HIV.

PubMed

Johnson, Matthew W; Herrmann, Evan S; Sweeney, Mary M; LeComte, Robert S; Johnson, Patrick S

2017-02-01

Although cocaine use has been linked to sexual HIV risk behavior for decades, the direct effects of cocaine on sexual desire and sexual decision-making are unexamined. Research suggests delay discounting (devaluation of future outcomes) and probability discounting (devaluation of uncertain outcomes) play roles in condom use decisions. This study examined the effect of cocaine administration on sexual desire, hypothetical condom use, and discounting tasks. This double-blind, within-subjects study compared the effects of 0, 125, and 250 mg/70 kg oral cocaine HCl in 12 cocaine users. Measures included sexual desire and other subjective ratings, the Sexual Delay Discounting Task, the Sexual Probability Discounting Task, and monetary delay and probability discounting tasks. Cocaine caused dose-related increases in sexual desire and prototypical stimulant abuse-liability ratings. Relative to placebo, cocaine did not significantly alter condom use likelihood when condoms were immediately available or when sex was associated with 100% certainty of sexually transmitted infection (STI). In contrast, cocaine dose-dependently strengthened the effect of delay (sexual delay discounting) and STI uncertainty (sexual probability discounting) in decreasing condom use likelihood. Cocaine caused no significant change in monetary delay and probability discounting. This is the first study showing that cocaine administration increases sexual desire. Detrimental effects of cocaine on sexual risk were only observed when safer sex required delay, or STI risk was uncertain (representative of many real-world scenarios), suggesting a critical role of discounting processes. Lack of monetary effects highlights the importance of studying clinically relevant outcomes when examining drug effects on behavioral processes.

Decision processes in choice overload: a product of delay and probability discounting?

PubMed

Kaplan, Brent A; Reed, Derek D

2013-07-01

Recent research in the behavioral decision making literature has demonstrated that humans hyperbolically discount the subjective value of options as the number of options increases (Reed et al., 2012). These findings provide a cognitive-behavioral synthesis of the "choice overload" phenomenon, also known as the "paradox of choice." Specifically, these findings suggest that temporal discounting may serve as the underlying process contributing to this effect. As an extension, this study examined the effects of reward magnitude sizes had on rates temporal and options discounting. This manipulation was conducted to determine what role temporal discounting plays in discounting of options. The present results suggest that temporal discounting may not be the only process contributing to the choice overload effect. Copyright © 2013 Elsevier B.V. All rights reserved.

Reviewing and piloting methods for decreasing discount rates; someone, somewhere in time.

PubMed

Parouty, Mehraj B Y; Krooshof, Daan G M; Westra, Tjalke A; Pechlivanoglou, Petros; Postma, Maarten J

2013-08-01

There has been substantial debate on the need for decreasing discounting for monetary and health gains in economic evaluations. Next to the discussion on differential discounting, a way to identify the need for such discounting strategies is through eliciting the time preferences for monetary and health outcomes. In this article, the authors investigate the perceived time preference for money and health gains through a pilot survey on Dutch university students using methods on functional forms previously suggested. Formal objectives of the study were to review such existing methods and to pilot them on a convenience sample using a questionnaire designed for this specific purpose. Indeed, a negative relation between the time of delay and the variance of the discounting rate for all models was observed. This study was intended as a pilot for a large-scale population-based investigation using the findings from this pilot on wording of the questionnaire, interpretation, scope and analytic framework.

On the expected discounted penalty functions for two classes of risk processes under a threshold dividend strategy

NASA Astrophysics Data System (ADS)

Lu, Zhaoyang; Xu, Wei; Sun, Decai; Han, Weiguo

2009-10-01

In this paper, the discounted penalty (Gerber-Shiu) functions for a risk model involving two independent classes of insurance risks under a threshold dividend strategy are developed. We also assume that the two claim number processes are independent Poisson and generalized Erlang (2) processes, respectively. When the surplus is above this threshold level, dividends are paid at a constant rate that does not exceed the premium rate. Two systems of integro-differential equations for discounted penalty functions are derived, based on whether the surplus is above this threshold level. Laplace transformations of the discounted penalty functions when the surplus is below the threshold level are obtained. And we also derive a system of renewal equations satisfied by the discounted penalty function with initial surplus above the threshold strategy via the Dickson-Hipp operator. Finally, analytical solutions of the two systems of integro-differential equations are presented.

ChargeOut! : discounted cash flow compared with traditional machine-rate analysis

Treesearch

Ted Bilek

2008-01-01

ChargeOut!, a discounted cash-flow methodology in spreadsheet format for analyzing machine costs, is compared with traditional machine-rate methodologies. Four machine-rate models are compared and a common data set representative of logging skidders’ costs is used to illustrate the differences between ChargeOut! and the machine-rate methods. The study found that the...

A behavioral economic analysis of texting while driving: Delay discounting processes

PubMed Central

Hayashi, Yusuke; Miller, Kimberly; Foreman, Anne M.; Wirth, Oliver

2016-01-01

The purpose of the present study was to examine an impulsive decision-making process underlying texting while driving from a behavioral economic perspective. A sample of 108 college students completed a novel discounting task that presented participants with a hypothetical scenario in which, after receiving a text message while driving, they rated the likelihood of replying to a text message immediately versus waiting to reply for a specific period of time. Participants also completed a delay discounting task in which they made repeated hypothetical choices between obtaining a larger amount of money available after a delay and an equal or lesser amount of money available immediately. The results show that the duration of the delay is a critical variable that strongly determines whether participants choose to wait to reply to a text message, and that the decrease in the likelihood of waiting as a function of delay is best described by a hyperbolic delay discounting function. The results also show that participants who self-reported higher frequency of texting while driving discounted the opportunity to reply to a text message at greater rates, whereas there was no relation between the rates of discounting of hypothetical monetary rewards and the frequency of texting while driving. The results support the conclusion that texting while driving is fundamentally an impulsive choice. PMID:27614547

Longitudinal and reciprocal relations between delay discounting and crime

PubMed Central

Lee, Christine A.; Derefinko, Karen J.; Milich, Richard; Lynam, Donald R.; DeWall, C. Nathan

2017-01-01

Theorists argue that self-control failure is the underlying cause of criminal behavior, with previous research linking poor self-control to delinquency and drug use. The path from self-control to crime is well-established, but less is known about whether criminal behavior contributes to self-control deficits over time. We investigated bi-directional relations between self-control assessed via a delay discounting task and self-reported crime over a three-year period. During their first, second (73.38% retention rate), and third (63.12% retention rate) years of college, 526 undergraduates completed a delay discounting task and reported on their criminal behavior. In order to maximize variability, participants with conduct problems were overrecruited, comprising 23.1% of the final sample. As expected, more discounting of hypothetical monetary rewards significantly predicted future property crime across a one and two-year period, even when controlling for initial levels of both. This study also demonstrated evidence of a bi-directional relationship; violent crime predicted higher rates of delay discounting one year later. These results suggest that bi-directional relations exist between self-control and types of crime. PMID:28970645

I want it and I want it now: using a temporal discounting paradigm to examine predictors of consumer impulsivity.

PubMed

Dittmar, Helga; Bond, Rod

2010-11-01

This paper proposes a new model of consumer impulsivity, using type of good, a person's endorsement of materialistic values, and identity deficits as predictors. Traditional decision making and psychological accounts see impulsive behaviour as a general overweighing of short-term gratification (I want that dress now) relative to longer-term concerns, irrespective of consumer good. Our proposal is that consumers' impulsivity (a) differs according to type of good and (b) is linked systematically to a combination of materialistic values and high identity deficits. Beginning with Study 1, three experiments, using a temporal discounting paradigm, show consistently that discount rates are higher for goods that are seen as highly expressive of identity (e.g., clothes) than goods not expressive of identity (e.g., basic body care products). For materialistic consumers, identity deficits predict discount rates for identity-expressive goods (Study 2), and discount rates change for materialistic individuals when their identity deficits are made salient (Study 3). These findings support a conceptualization of consumer impulsivity as identity-seeking behaviour.

Focus on the future: Episodic future thinking reduces discount rate and snacking.

PubMed

Dassen, Fania C M; Jansen, Anita; Nederkoorn, Chantal; Houben, Katrijn

2016-01-01

Obesity seems related to a preference for immediate gratification. By changing this focus on short term benefits to a more future-oriented outlook, delay discounting (impulsive decision making) can be changed by a manipulation of episodic future thinking (EFT). EFT comprises a vivid mental simulation of general future experiences. EFT may also affect consumption of unhealthy foods, which can be seen as a choice for immediate gratification. Recent research shows that future orientation should be tailored to the behavior at outcome. We therefore hypothesize that the effectiveness of EFT on food intake could be enhanced by making the content food-related. We conducted a 2 (future vs past thinking) by 2 (food vs non-food related thoughts) between-subject design experiment in female undergraduates (N = 94), to compare the efficacy of EFT versus the recalling of episodic past events in reducing discount rate and caloric intake. Content of imagery was either unrestricted or food-related. Participants engaged in EFT or control episodic imagery while snacks were offered to freely consume, and next the Monetary Choice Questionnaire was completed as a measure of delay discounting, while again being engaged in EFT or control imagery. Both types of EFT reduced delay discounting, however, only food-related EFT lead to more restricted caloric consumption. Thus, we found evidence that EFT reduced discount rate during decision making. However, in order to restrict caloric intake, EFT should entail food-related imagery. As discount rate and caloric intake were not related in the current sample, the underlying mechanism remains to be discovered. Results however suggest that EFT is a promising technique to resist immediate gratification. Copyright © 2015 Elsevier Ltd. All rights reserved.

Risk preferences impose a hidden distortion on measures of choice impulsivity.

PubMed

Lopez-Guzman, Silvia; Konova, Anna B; Louie, Kenway; Glimcher, Paul W

2018-01-01

Measuring temporal discounting through the use of intertemporal choice tasks is now the gold standard method for quantifying human choice impulsivity (impatience) in neuroscience, psychology, behavioral economics, public health and computational psychiatry. A recent area of growing interest is individual differences in discounting levels, as these may predispose to (or protect from) mental health disorders, addictive behaviors, and other diseases. At the same time, more and more studies have been dedicated to the quantification of individual attitudes towards risk, which have been measured in many clinical and non-clinical populations using closely related techniques. Economists have pointed to interactions between measurements of time preferences and risk preferences that may distort estimations of the discount rate. However, although becoming standard practice in economics, discount rates and risk preferences are rarely measured simultaneously in the same subjects in other fields, and the magnitude of the imposed distortion is unknown in the assessment of individual differences. Here, we show that standard models of temporal discounting -such as a hyperbolic discounting model widely present in the literature which fails to account for risk attitudes in the estimation of discount rates- result in a large and systematic pattern of bias in estimated discounting parameters. This can lead to the spurious attribution of differences in impulsivity between individuals when in fact differences in risk attitudes account for observed behavioral differences. We advance a model which, when applied to standard choice tasks typically used in psychology and neuroscience, provides both a better fit to the data and successfully de-correlates risk and impulsivity parameters. This results in measures that are more accurate and thus of greater utility to the many fields interested in individual differences in impulsivity.

Tuition Discounting Is on the Rise: Results of a NACUBO Study of Independent Institutions.

ERIC Educational Resources Information Center

Hubbell, Loren Loomis

1995-01-01

A study by the National Association of College and University Business Officers (NACUBO) analyzed tuition discount ratios for small colleges with lower tuition, small colleges with higher tuition, and large colleges/universities. It examined average tuition discount percentages, average tuition rates and enrollments, percent of students aided, and…

Future Rice Is Discounted Less Steeply than Future Money in Thailand

ERIC Educational Resources Information Center

Takahashi, Masaharu; Masataka, Nobuo; Malaivijitnond, Suchinda; Wongsiri, Siriwat

2008-01-01

There is evidence that people discount food more steeply than money, suggesting that primary or consumable reinforcers lose value quickly, whereas conditioned or nonconsumable reinforcers lose value slowly. In the present study, discounting rates of baht (unstable currency) and rice (preservable food) were compared during a period of unstable…

Determining a Relationship between Higher Education Financial Position and Tuition Discount Rates

ERIC Educational Resources Information Center

Browning, Julianna

2013-01-01

Institutions have increased the practice of tuition discounting, that is, the strategic use of price discrimination. During the past 30 years, both the average percent discount given to students and the proportion of students receiving tuition breaks have increased. As this practice has increased, there are financial determinants and implications…

Social Discounting under Risk.

PubMed

Jin, Jia; Pei, Guanxiong; Ma, Qingguo

2017-01-01

As a measure of how prosocial behavior depends on social distance, social discounting is defined as the decrease in generosity between the decision maker and the recipient as the social distance increases. While risk is a ubiquitous part of modern life, there is limited research on the relationship between risk and prosocial behavior. In the present experiment, we empirically test whether risk has an influence on social discounting. We use the choice titration procedure to examine this effect. Our data show that independent of risk, participants are less eager to forego money and exhibit more selfishness toward a specific person when the social distance increases; these findings are reflected in the hyperbolic model. Interestingly, risk influences the shape of the social discounting function, which is reflected in the notable different discount rates. Individuals who make decisions under risk yield a smaller discount rate than those who make decisions without risk, i.e., under risk subjects reduce less their generosity as a function of the social distance. Furthermore, this distinct type of generosity occurs typically among individuals with 10-distance recipients but not with the closest- and furthest-social-distance recipients.

The discount rate in the economic evaluation of prevention: a thought experiment.

PubMed

Bonneux, L; Birnie, E

2001-02-01

In the standard economic model of evaluation, constant discount rates devalue the long term health benefits of prevention strongly. This study shows that it is unlikely that this reflects societal preference. A thought experiment in a cause elimination life table calculates savings of eliminating cardiovascular disease from the Dutch population. A cost effectiveness analysis calculates the acceptable costs of such an intervention at a threshold of 18 000 Euro per saved life year. Cause specific mortality (all cardiovascular causes of death and all other causes) and health care costs (all costs of cardiovascular disease and all other causes of costs) by age and male sex of 1994. At a 0% discount rate, an intervention eliminating cardiovascular disease may cost 71 100 Euro. At the same threshold but at discount rates of 3% or 6%, the same intervention may cost 8100 Euro (8.8 times less) or 1100 Euro (65 times less). The standard economic model needs more realistic duration dependent models of time preference, which reflect societal preference.

Delay discounting and utility for money or weight loss.

PubMed

Sze, Y Y; Slaven, E M; Bickel, W K; Epstein, L H

2017-03-01

Obesity is related to a bias towards smaller immediate over larger delayed rewards. This bias is typically examined by studying single commodity discounting. However, weight loss often involves choices among multiple commodities. To our knowledge, no research has examined delay discounting of delayed weight loss compared with other commodities. We examined single commodity discounting of money and cross commodity discounting of money and weight loss in a sample of 84 adults with obesity or overweight statuses interested in weight loss. The exchange rate between money and weight loss was calculated, and participants completed two delay discounting tasks: money now versus money later and money now versus weight loss later. Participants discounted weight loss more than money ( p  < 0.001). When participants were divided into those who preferred weight loss ( n  = 61) versus money ( n  = 23), those who preferred money over weight loss discounted weight loss even more than individuals that preferred weight loss ( p  = 0.003). Greater discounting of weight loss for those who preferred money suggest that idiosyncratic preferences are related to multiple commodity discounting, and greater discounting of weight loss across all participants provide insight on important challenges for weight control.

The impact of a retirement savings account cap.

PubMed

VanDerhei, Jack

2013-08-01

This Issue Brief provides an initial analysis of the potential financial impact on private-sector retirement benefits of the retirement savings account cap included in the Obama administration's FY 2014 budget proposal. It finds that although a very small percentage of current 401(k) participants with IRA accounts have combined balances sufficient to be immediately affected by the proposed limit, over time (and depending on the applicable discount rates, whether a defined benefit pension is involved, and the size of the 401(k) plan) the impact could be much greater. Simulation results for 401(k) participants assuming no defined benefit accruals and no job turnover show that more than 1 in 10 current 401(k) participants are likely to hit the proposed limit sometime prior to age 65, even at the current historically low discount rate of 4 percent. When the simulation is rerun with discount rate assumptions closer to historical averages, the percentage of 401(k) participants likely to be affected by these proposed limits increases substantially: For example, with an 8 percent discount rate, more than 20 percent of the 401(k) participants are simulated to reach the limit prior to retirement. When the impact of stylized, defined benefit account assumptions are added to the analysis, the percentage of 401(k) participants simulated to reach the proposed limits increases even more: In fact, for 401(k) participants assumed to be covered by a 2 percent, three-year, final-average plan with a subsidized early retirement at 62, nearly a third are assumed to be affected by the proposed limit at an 8 percent discount rate. Additional analysis is performed for small plans (those with less than 100 participants) to assess the potential impact of eventual plan terminations if an when the owners and/or key decision makers of the firms reach the cap threshold. Depending on plan size, this may involve as few as 18 percent of the firms (at a 4 percent discount rate) to as many as 75 percent of the firms (at an 8 percent discount rates).

The Effects of Inflation and Interest Rates on Delay Discounting in Human Behavior

ERIC Educational Resources Information Center

Kawashima, Kentaro

2006-01-01

Interest and inflation rates may be major determinants of delay discounting, but these variables have not been controlled in past experiments because they depend on macroeconomic conditions. This study uses a computer game-like task to investigate the effects of inflation rates on people's subjective valuation of delayed rewards. During the task,…

Development of the use of conversational cues to assess reality status

PubMed Central

Woolley, Jacqueline D.; Ma, Lili; Lopez-Mobilia, Gabriel

2011-01-01

In this study we assessed children’s ability to use information overheard in other people’s conversations to judge the reality status of a novel entity. Three- to 9-year-old children (N = 101) watched video clips in which two adults conversed casually about a novel being. Videos contained statements that either explicitly denied, explicitly affirmed, or implicitly acknowledged the entity’s existence. Results indicated that children of all ages used statements of denial to discount the reality status of the novel entity, but that this ability improved with age. By age 5, children used implicit existence cues to judge a novel entity as being real. Not until age 9, however, did children begin to doubt the existence of entities whose reality status was explicitly affirmed in conversation. Overall, results indicate that the ability to use conversational cues to determine reality status is present in some children as early as age 3, but recognition of the nuanced language of belief continues to develop during the elementary-school years. PMID:22241965

A Comparison of Three Commercial Online Vendors.

ERIC Educational Resources Information Center

Hoover, Ryan E.

1979-01-01

Compares database update currency, number of hits, elapsed time, number of offline prints or online types, offline print turnaround time, vendor rates, total search cost, and discounted search cost based on vendor discount rates for five simple searches run on three major commercial vendors' online systems. (CWM)

77 FR 27227 - Notice of Agreements Filed

Federal Register 2010, 2011, 2012, 2013, 2014

2012-05-09

... Authority, P.O. Box 2562; Houston, TX 77252. Synopsis: The agreement sets forth certain discounted rates and... Houston Authority, P.O. Box 2562; Houston, TX 77252. Synopsis: The agreement sets forth certain discounted rates and charges applicable to Bayport Container Lines Americas, Inc.'s container vessels calling at...

Societal cost-benefit analysis for soil remediation in The Netherlands.

PubMed

van Wezel, Annemarie P; Franken, Ron O G; Drissen, Eric; Versluijs, Kees C W; van den Berg, Reinier

2008-01-01

There is a political demand on the efficiency of environmental policy. Cost-benefit analyses (CBAs) can play a role in answering that demand. This societal CBA for nationwide soil remediation operations in The Netherlands distinguishes 4 alternatives for future investments. In the zero alternative government funding will be terminated. Besides this, 3 policy alternatives are distinguished that are government financed. Soil remediation benefits human health, the drinking water supply, housing, perceptions, and the ecosystem. Soil remediation also answers the concerns of the Dutch population. The benefits to health (exposure to cadmium, lead, and carcinogens), drinking water supply, and housing are expressed in monetary terms. The extent that benefits equal the money spent depends partly on the value-loaded choice for the discount rate. Use of the current discount rate of 4% will mean a slightly negative balance whichever policy alternative is chosen. Focusing on nonmoneterized benefits, such as ecology, can cause the scales to tip in another direction. Using a lower discount rate will make future benefits, such as health and drinking water supply, more important. If the discount rate drops to 2% or less, all policy alternatives lead to a positive balance. Predominantly, the health benefits that are veiled in uncertainty can become a reason for applying a surcharge and, in turn, a higher discount rate. In that case, each of the alternatives will result in a net negative balance.

Rats bred for high alcohol drinking are more sensitive to delayed and probabilistic outcomes.

PubMed

Wilhelm, C J; Mitchell, S H

2008-10-01

Alcoholics and heavy drinkers score higher on measures of impulsivity than nonalcoholics and light drinkers. This may be because of factors that predate drug exposure (e.g. genetics). This study examined the role of genetics by comparing impulsivity measures in ethanol-naive rats selectively bred based on their high [high alcohol drinking (HAD)] or low [low alcohol drinking (LAD)] consumption of ethanol. Replicates 1 and 2 of the HAD and LAD rats, developed by the University of Indiana Alcohol Research Center, completed two different discounting tasks. Delay discounting examines sensitivity to rewards that are delayed in time and is commonly used to assess 'choice' impulsivity. Probability discounting examines sensitivity to the uncertain delivery of rewards and has been used to assess risk taking and risk assessment. High alcohol drinking rats discounted delayed and probabilistic rewards more steeply than LAD rats. Discount rates associated with probabilistic and delayed rewards were weakly correlated, while bias was strongly correlated with discount rate in both delay and probability discounting. The results suggest that selective breeding for high alcohol consumption selects for animals that are more sensitive to delayed and probabilistic outcomes. Sensitivity to delayed or probabilistic outcomes may be predictive of future drinking in genetically predisposed individuals.

What's your real cost of capital?

PubMed

McNulty, James J; Yeh, Tony D; Schulze, William S; Lubatkin, Michael H

2002-10-01

In valuing any investment project or corporate acquisition, executives must decide what discount rate to use in their estimates of future cash flows. The traditional approach is to apply the capital asset pricing model (CAPM), which has remained fundamentally unchanged for 40 years. But the formula--in particular, its beta element--has long been a source of frustration. In fact, corporate executives and investment bankers routinely fudge their CAPM estimates, say the authors, because experience and intuition tell them the model produces inappropriate discount rates. CAPM has three main problems: First, beta is a measure of both a stock's correlation and its volatility; second, beta is based on historical data; and third, CAPM rates don't take into account the term of the investment. These factors together result in discount rates that defy common sense. As an alternative to CAPM and its beta element, the authors developed a forward-looking approach to calculating a company's cost of capital, the market-derived capital pricing model (MCPM). It does not incorporate any measure of historical stock-to-market correlation, relying instead on estimates of future volatility derived from the options market. This is helpful since investor expectations from the options market are built into a company's current stock price. Using GE as an example, the authors give step-by-step instructions for how to calculate discount rates with MCPM. They also offer evidence from a range of industries to show that MCPM's discount rates are more realistic--especially from the corporate investor's perspective--than are CAPM's.

75 FR 82066 - Change in Discount Rate for Water Resources Planning

Federal Register 2010, 2011, 2012, 2013, 2014

2010-12-29

... DEPARTMENT OF THE INTERIOR Bureau of Reclamation Change in Discount Rate for Water Resources Planning AGENCY: Bureau of Reclamation, Interior. ACTION: Notice of change. SUMMARY: The Water Resources Planning Act of 1965 and the Water Resources Development Act of 1974 require an annual determination of a...

78 FR 16706 - Change in Discount Rate for Water Resources Planning

Federal Register 2010, 2011, 2012, 2013, 2014

2013-03-18

... DEPARTMENT OF THE INTERIOR Bureau of Reclamation Change in Discount Rate for Water Resources Planning AGENCY: Bureau of Reclamation, Interior. ACTION: Notice of change. SUMMARY: The Water Resources Planning Act of 1965 and the Water Resources Development Act of 1974 require an annual determination of a...

77 FR 1743 - Discount Rates for Cost-Effectiveness Analysis of Federal Programs

Federal Register 2010, 2011, 2012, 2013, 2014

2012-01-11

... OFFICE OF MANAGEMENT AND BUDGET Discount Rates for Cost-Effectiveness Analysis of Federal Programs AGENCY: Office of Management and Budget. ACTION: Revisions to Appendix C of OMB Circular A-94. SUMMARY: The Office of Management and Budget revised Circular A-94 in 1992. The revised Circular specified...

76 FR 73674 - Change in Discount Rate for Water Resources Planning

Federal Register 2010, 2011, 2012, 2013, 2014

2011-11-29

... DEPARTMENT OF THE INTERIOR Bureau of Reclamation Change in Discount Rate for Water Resources Planning AGENCY: Bureau of Reclamation, Interior. ACTION: Notice of change. SUMMARY: The Water Resources Planning Act of 1965 and the Water Resources Development Act of 1974 require an annual determination of a...

75 FR 8106 - Change in Discount Rate for Water Resources Planning

Federal Register 2010, 2011, 2012, 2013, 2014

2010-02-23

... DEPARTMENT OF THE INTERIOR Bureau of Reclamation Change in Discount Rate for Water Resources Planning AGENCY: Bureau of Reclamation, Interior. ACTION: Notice of change. SUMMARY: The Water Resources Planning Act of 1965 and the Water Resources Development Act of 1974 require an annual determination of a...

Episodic Future Thinking about the Ideal Self Induces Lower Discounting, Leading to a Decreased Tendency toward Cheating.

PubMed

Wu, Wen-Hsiung; Cheng, Wen; Chiou, Wen-Bin

2017-01-01

Delay discounting refers to a pervasive tendency toward preferring smaller immediate gains over larger future gains. Recent empirical research has shown that episodic future thinking (EFT; i.e., projecting oneself into the future to pre-experience forthcoming events) can reduce the tendency toward discounting. A common tenet of psychological theories of crime is that delinquency results from focusing on short-term gains while failing to consider adequately the longer-term consequences of delinquent behavior. We investigated whether an EFT intervention involving the ideal self could induce lower discounting rates and, as a consequence, reduced delinquency. The results showed that, compared with control participants, participants engaging in EFT, that is, envisaging life events that would be experienced by their ideal selves, exhibited a lower discounting rate in a monetary choice task (Experiments 1 and 2), as well as a decreased tendency to make delinquent choices in imaginary scenarios (Experiment 1) and cheat in a matrix task (Experiment 2). The discounting tendency mediated the relationship between engaging in EFT pertaining to the ideal self and the tendency toward morally questionable behavior (Experiments 1 and 2). The findings of the two experiments indicate that engagement in EFT with a focus on the ideal self is sufficient to induce lower discounting rates, by promoting consideration of distant costs and thus increasing resistance to delinquent involvement and cheating (given the temptation of the immediate benefits that may accrue from such behavior). The current research constitutes an innovative approach to delinquency prevention and the promotion of morality.

Episodic Future Thinking about the Ideal Self Induces Lower Discounting, Leading to a Decreased Tendency toward Cheating

PubMed Central

Wu, Wen-Hsiung; Cheng, Wen; Chiou, Wen-Bin

2017-01-01

Delay discounting refers to a pervasive tendency toward preferring smaller immediate gains over larger future gains. Recent empirical research has shown that episodic future thinking (EFT; i.e., projecting oneself into the future to pre-experience forthcoming events) can reduce the tendency toward discounting. A common tenet of psychological theories of crime is that delinquency results from focusing on short-term gains while failing to consider adequately the longer-term consequences of delinquent behavior. We investigated whether an EFT intervention involving the ideal self could induce lower discounting rates and, as a consequence, reduced delinquency. The results showed that, compared with control participants, participants engaging in EFT, that is, envisaging life events that would be experienced by their ideal selves, exhibited a lower discounting rate in a monetary choice task (Experiments 1 and 2), as well as a decreased tendency to make delinquent choices in imaginary scenarios (Experiment 1) and cheat in a matrix task (Experiment 2). The discounting tendency mediated the relationship between engaging in EFT pertaining to the ideal self and the tendency toward morally questionable behavior (Experiments 1 and 2). The findings of the two experiments indicate that engagement in EFT with a focus on the ideal self is sufficient to induce lower discounting rates, by promoting consideration of distant costs and thus increasing resistance to delinquent involvement and cheating (given the temptation of the immediate benefits that may accrue from such behavior). The current research constitutes an innovative approach to delinquency prevention and the promotion of morality. PMID:28303111

Humans Can Adopt Optimal Discounting Strategy under Real-Time Constraints

PubMed Central

Schweighofer, N; Shishida, K; Han, C. E; Okamoto, Y; Tanaka, S. C; Yamawaki, S; Doya, K

2006-01-01

Critical to our many daily choices between larger delayed rewards, and smaller more immediate rewards, are the shape and the steepness of the function that discounts rewards with time. Although research in artificial intelligence favors exponential discounting in uncertain environments, studies with humans and animals have consistently shown hyperbolic discounting. We investigated how humans perform in a reward decision task with temporal constraints, in which each choice affects the time remaining for later trials, and in which the delays vary at each trial. We demonstrated that most of our subjects adopted exponential discounting in this experiment. Further, we confirmed analytically that exponential discounting, with a decay rate comparable to that used by our subjects, maximized the total reward gain in our task. Our results suggest that the particular shape and steepness of temporal discounting is determined by the task that the subject is facing, and question the notion of hyperbolic reward discounting as a universal principle. PMID:17096592

A behavioral economic analysis of texting while driving: Delay discounting processes.

PubMed

Hayashi, Yusuke; Miller, Kimberly; Foreman, Anne M; Wirth, Oliver

2016-12-01

The purpose of the present study was to examine an impulsive decision-making process underlying texting while driving from a behavioral economic perspective. A sample of 108 college students completed a novel discounting task that presented participants with a hypothetical scenario in which, after receiving a text message while driving, they rated the likelihood of replying to a text message immediately versus waiting to reply for a specific period of time. Participants also completed a delay discounting task in which they made repeated hypothetical choices between obtaining a larger amount of money available after a delay and an equal or lesser amount of money available immediately. The results show that the duration of the delay is a critical variable that strongly determines whether participants choose to wait to reply to a text message, and that the decrease in the likelihood of waiting as a function of delay is best described by a hyperbolic delay discounting function. The results also show that participants who self-reported higher frequency of texting while driving discounted the opportunity to reply to a text message at greater rates, whereas there was no relation between the rates of discounting of hypothetical monetary rewards and the frequency of texting while driving. The results support the conclusion that texting while driving is fundamentally an impulsive choice. Copyright © 2016 Elsevier Ltd. All rights reserved.

Maintained Physical Activity Induced Changes in Delay Discounting.

PubMed

Sofis, Michael J; Carrillo, Ale; Jarmolowicz, David P

2017-07-01

Those who discount the subjective value of delayed rewards less steeply are more likely to engage in physical activity. There is limited research, however, showing whether physical activity can change rates of delay discounting. In a two-experiment series, treatment and maintenance effects of a novel, effort-paced physical activity intervention on delay discounting were evaluated with multiple baseline designs. Using a lap-based method, participants were instructed to exercise at individualized high and low effort levels and to track their own perceived effort. The results suggest that treatment-induced changes in discounting were maintained at follow-up for 13 of 16 participants. In Experiment 2, there were statistically significant group-level improvements in physical activity and delay discounting when comparing baseline with both treatment and maintenance phases. Percentage change in delay discounting was significantly correlated with session attendance and relative pace (min/mile) improvement over the course of the 7-week treatment. Implications for future research are discussed.

Buyer-vendor coordination for fixed lifetime product with quantity discount under finite production rate

NASA Astrophysics Data System (ADS)

Zhang, Qinghong; Luo, Jianwen; Duan, Yongrui

2016-03-01

Buyer-vendor coordination has been widely addressed; however, the fixed lifetime of the product is seldom considered. In this paper, we study the coordination of an integrated production-inventory system with quantity discount for a fixed lifetime product under finite production rate and deterministic demand. We first derive the buyer's ordering policy and the vendor's production batch size in decentralised and centralised systems. We then compare the two systems and show the non-coordination of the ordering policies and the production batch sizes. To improve the supply chain efficiency, we propose quantity discount contract and prove that the contract can coordinate the buyer-vendor supply chain. Finally, we present analytically tractable solutions and give a numerical example to illustrate the benefits of the proposed quantity discount strategy.

7 CFR 1786.168 - Borrowers who prepaid under this part prior to October 21, 1992.

Code of Federal Regulations, 2010 CFR

2010-01-01

... the date of enactment of Public Law 102-428 (106 Stat. 2183) on October 21, 1992, at a discount rate... INSURED LOANS TO ELECTRIC AND TELEPHONE BORROWERS Discounted Prepayments on RUS Electric Loans § 1786.168...) The amount (if any) by which the discount the borrower received by reason of the prepayment exceeds...

ChargeOut! : determining machine and capital equipment charge-out rates using discounted cash-flow analysis

Treesearch

E.M. (Ted) Bilek

2007-01-01

The model ChargeOut! was developed to determine charge-out rates or rates of return for machines and capital equipment. This paper introduces a costing methodology and applies it to a piece of capital equipment. Although designed for the forest industry, the methodology is readily transferable to other sectors. Based on discounted cash-flow analysis, ChargeOut!...

38 CFR 9.5 - Payment of proceeds.

Code of Federal Regulations, 2010 CFR

2010-07-01

..., discounted to the date of his or her death at the same rate used for inclusion of interest in the computation... remain unpaid will be discounted to the date of payment at the same rate used for inclusion of interest... is extended due to total disability converts the group insurance to an individual policy which is...

Health Shocks and Natural Resource Management: Evidence from Western Kenya.

PubMed

Damon, Maria; Zivin, Joshua Graff; Thirumurthy, Harsha

2015-01-01

Poverty and altered planning horizons brought on by the HIV/AIDS epidemic can change individual discount rates, altering incentives to conserve natural resources. Using longitudinal household survey data from western Kenya, we estimate the effects of health status on investments in soil quality, as indicated by households' agricultural land fallowing decisions. We first show that this effect is theoretically ambiguous: while health improvements lower discount rates and thus increase incentives to conserve natural resources, they also increase labor productivity and make it more likely that households can engage in labor-intensive resource extraction activities. We find that household size and composition are predictors of whether the effect of health improvements on discount rates dominates the productivity effect, or vice-versa. Since households with more and younger members are better able to reallocate labor to cope with productivity shocks, the discount rate effect dominates for these households and health improvements lead to greater levels of conservation. In smaller families with less substitutable labor, the productivity effect dominates and health improvements lead to greater environmental degradation.

Time Preferences Predict Mortality among HIV-Infected Adults Receiving Antiretroviral Therapy in Kenya.

PubMed

Thirumurthy, Harsha; Hayashi, Kami; Linnemayr, Sebastian; Vreeman, Rachel C; Levin, Irwin P; Bangsberg, David R; Brewer, Noel T

2015-01-01

Identifying characteristics of HIV-infected adults likely to have poor treatment outcomes can be useful for targeting interventions efficiently. Research in economics and psychology suggests that individuals' intertemporal time preferences, which indicate the extent to which they trade-off immediate vs. future cost and benefits, can influence various health behaviors. While there is empirical support for the association between time preferences and various non-HIV health behaviors and outcomes, the extent to which time preferences predict outcomes of those receiving antiretroviral therapy (ART) has not been examined previously. HIV-infected adults initiating ART were enrolled at a health facility in Kenya. Participants' time preferences were measured at enrollment and used to classify them as having either a low or high discount rate for future benefits. At 48 weeks, we assessed mortality and ART adherence, as measured by Medication Event Monitoring System (MEMS). Logistic regression models adjusting for socio-economic characteristics and risk factors were used to determine the association between time preferences and mortality as well as MEMS adherence ≥90%. Overall, 44% (96/220) of participants were classified as having high discount rates. Participants with high discount rates had significantly higher 48-week mortality than participants with low discount rates (9.3% vs. 3.1%; adjusted odds ratio 3.84; 95% CI 1.03, 14.50). MEMS adherence ≥90% was similar for participants with high vs. low discount rates (42.3% vs. 49.6%, AOR 0.70; 95% CI 0.40, 1.25). High discount rates were associated with significantly higher risk of mortality among HIV-infected patients initiating ART. Greater use of time preference measures may improve identification of patients at risk of poor clinical outcomes. More research is needed to further identify mechanisms of action and also to build upon and test the generalizability of this finding.

The Surprisingly Low Motivational Power of Future Rewards: Comparing Conventional Money-Based Measures of Discounting with Motivation-Based Measures

ERIC Educational Resources Information Center

Ebert, Jane E. J.

2010-01-01

Temporal discount rates are often poor predictors of behaviors that we expect will be motivated by the future. The current research suggests this may be because conventional discounting measures are poor measures of the motivational value of future rewards. In six studies, I develop motivation-based measures of the present value (PV) of future…

48 CFR 952.251-70 - Contractor employee travel discounts.

Code of Federal Regulations, 2011 CFR

2011-10-01

... Federal Contractor employee travelers by AMTRAK, hotels, motels, or car rental companies, when use of such... employees. (d) Hotels/motels. Many lodging providers extend their discount rates for Federal employees to...

Temporal Discounting and Inter-Temporal Choice in Rhesus Monkeys

PubMed Central

Hwang, Jaewon; Kim, Soyoun; Lee, Daeyeol

2009-01-01

Humans and animals are more likely to take an action leading to an immediate reward than actions with delayed rewards of similar magnitudes. Although such devaluation of delayed rewards has been almost universally described by hyperbolic discount functions, the rate of this temporal discounting varies substantially among different animal species. This might be in part due to the differences in how the information about reward is presented to decision makers. In previous animal studies, reward delays or magnitudes were gradually adjusted across trials, so the animals learned the properties of future rewards from the rewards they waited for and consumed previously. In contrast, verbal cues have been used commonly in human studies. In the present study, rhesus monkeys were trained in a novel inter-temporal choice task in which the magnitude and delay of reward were indicated symbolically using visual cues and varied randomly across trials. We found that monkeys could extract the information about reward delays from visual symbols regardless of the number of symbols used to indicate the delay. The rate of temporal discounting observed in the present study was comparable to the previous estimates in other mammals, and the animal's choice behavior was largely consistent with hyperbolic discounting. Our results also suggest that the rate of temporal discounting might be influenced by contextual factors, such as the novelty of the task. The flexibility furnished by this new inter-temporal choice task might be useful for future neurobiological investigations on inter-temporal choice in non-human primates. PMID:19562091

DISCOUNTING OF DELAYED AND PROBABILISTIC LOSSES OVER A WIDE RANGE OF AMOUNTS

PubMed Central

Green, Leonard; Myerson, Joel; Oliveira, Luís; Chang, Seo Eun

2014-01-01

The present study examined delay and probability discounting of hypothetical monetary losses over a wide range of amounts (from $20 to $500,000) in order to determine how amount affects the parameters of the hyperboloid discounting function. In separate conditions, college students chose between immediate payments and larger, delayed payments and between certain payments and larger, probabilistic payments. The hyperboloid function accurately described both types of discounting, and amount of loss had little or no systematic effect on the degree of discounting. Importantly, the amount of loss also had little systematic effect on either the rate parameter or the exponent of the delay and probability discounting functions. The finding that the parameters of the hyperboloid function remain relatively constant across a wide range of amounts of delayed and probabilistic loss stands in contrast to the robust amount effects observed with delayed and probabilistic rewards. At the individual level, the degree to which delayed losses were discounted was uncorrelated with the degree to which probabilistic losses were discounted, and delay and probability loaded on two separate factors, similar to what is observed with delayed and probabilistic rewards. Taken together, these findings argue that although delay and probability discounting involve fundamentally different decision-making mechanisms, nevertheless the discounting of delayed and probabilistic losses share an insensitivity to amount that distinguishes it from the discounting of delayed and probabilistic gains. PMID:24745086

Cocaine dependent individuals discount future rewards more than future losses for both cocaine and monetary outcomes.

PubMed

Johnson, Matthew W; Bruner, Natalie R; Johnson, Patrick S

2015-01-01

Cocaine dependence and other forms of drug dependence are associated with steeper devaluation of future outcomes (delay discounting). Although studies in this domain have typically assessed choices between monetary gains (e.g., receive less money now versus receive more money after a delay), delay discounting is also applicable to decisions involving losses (e.g., small loss now versus larger delayed loss), with gains typically discounted more than losses (the "sign effect"). It is also known that drugs are discounted more than equivalently valued money. In the context of drug dependence, however, relatively little is known about the discounting of delayed monetary and drug losses and the presence of the sign effect. In this within-subject, laboratory study, delay discounting for gains and losses was assessed for cocaine and money outcomes in cocaine-dependent individuals (n=89). Both cocaine and monetary gains were discounted at significantly greater rates than cocaine and monetary losses, respectively (i.e., the sign effect). Cocaine gains were discounted significantly more than monetary gains, but cocaine and monetary losses were discounted similarly. Results suggest that cocaine is discounted by cocaine-dependent individuals in a systematic manner similar to other rewards. Because the sign effect was shown for both cocaine and money, delayed aversive outcomes may generally have greater impact than delayed rewards in shaping present behavior in this population. Copyright © 2014. Published by Elsevier Ltd.

Attention-deficit/hyperactivity disorder, delay discounting, and risky financial behaviors: A preliminary analysis of self-report data.

PubMed

Beauchaine, Theodore P; Ben-David, Itzhak; Sela, Aner

2017-01-01

Delay discounting-often referred to as hyperbolic discounting in the financial literature-is defined by a consistent preference for smaller, immediate rewards over larger, delayed rewards, and by failure of future consequences to curtail current consummatory behaviors. Previous research demonstrates (1) excessive delay discounting among individuals with attention-deficit/hyperactivity disorder (ADHD), (2) common neural substrates of delay discounting and hyperactive-impulsive symptoms of ADHD, and (3) associations between delay discounting and both debt burden and high interest rate borrowing. This study extends prior research by examining associations between ADHD symptoms, delay discounting, and an array of previously unevaluated financial outcomes among 544 individuals (mean age 35 years). Controlling for age, income, sex, education, and substance use, ADHD symptoms were associated with delay discounting, late credit card payments, credit card balances, use of pawn services, personal debt, and employment histories (less time spent at more jobs). Consistent with neural models of reward processing and associative learning, more of these relations were attributable to hyperactive-impulsive symptoms than inattentive symptoms. Implications for financial decision-making and directions for future research are discussed.

Using Crowdsourcing to Examine Relations Between Delay and Probability Discounting

PubMed Central

Jarmolowicz, David P.; Bickel, Warren K.; Carter, Anne E.; Franck, Christopher T.; Mueller, E. Terry

2016-01-01

Although the extensive lines of research on delay and/or probability discounting have greatly expanded our understanding of human decision-making processes, the relation between these two phenomena remains unclear. For example, some studies have reported robust associations between delay and probability discounting, whereas others have failed to demonstrate a consistent relation between the two. The current study sought to clarify this relation by examining the relation between delay and probability discounting in a large sample of internet users (n= 904) using the Amazon Mechanical Turk (AMT) crowdsourcing service. Because AMT is a novel data collection platform, the findings were validated through the replication of a number of previously established relations (e.g., relations between delay discounting and cigarette smoking status). A small but highly significant positive correlation between delay and probability discounting rates was obtained, and principal component analysis suggested that two (rather than one) components were preferable to account for the variance in both delay and probability discounting. Taken together, these findings suggest that delay and probability discounting may be related, but are not manifestations of a single component (e.g., impulsivity). PMID:22982370

Implicit Weight Bias in Children Age 9 to 11 Years.

PubMed

Skinner, Asheley Cockrell; Payne, Keith; Perrin, Andrew J; Panter, Abigail T; Howard, Janna B; Bardone-Cone, Anna; Bulik, Cynthia M; Steiner, Michael J; Perrin, Eliana M

2017-07-01

Assess implicit weight bias in children 9 to 11 years old. Implicit weight bias was measured in children ages 9 to 11 ( N = 114) by using the Affect Misattribution Procedure. Participants were shown a test image of a child for 350 milliseconds followed by a meaningless fractal (200 milliseconds), and then they were asked to rate the fractal image as "good" or "bad." We used 9 image pairs matched on age, race, sex, and activity but differing by weight of the child. Implicit bias was the difference between positive ratings for fractals preceded by an image of a healthy-weight child and positive ratings for fractals preceded by an image of an overweight child. On average, 64% of abstract fractals shown after pictures of healthy-weight children were rated as "good," compared with 59% of those shown after pictures of overweight children, reflecting an overall implicit bias rate of 5.4% against overweight children ( P < .001). Healthy-weight participants showed greater implicit bias than over- and underweight participants (7.9%, 1.4%, and 0.3% respectively; P = .049). Implicit bias toward overweight individuals is evident in children aged 9 to 11 years with a magnitude of implicit bias (5.4%) similar to that in studies of implicit racial bias among adults. Copyright © 2017 by the American Academy of Pediatrics.

Sleep deprivation alters effort discounting but not delay discounting of monetary rewards.

PubMed

Libedinsky, Camilo; Massar, Stijn A A; Ling, Aiqing; Chee, Weiyan; Huettel, Scott A; Chee, Michael W L

2013-06-01

To determine whether sleep deprivation would affect the discounting of delayed rewards, of rewards entailing the expense of effort, or both. We measured rates of two types of reward discounting under conditions of rested wakefulness (RW) and sleep deprivation (SD). Delay discounting was defined as the willingness to accept smaller monetary rewards sooner rather than larger monetary rewards later. Effort discounting was defined as the willingness to accept smaller rewards that require less effort to obtain (e.g., typing a small number of letter strings backward) over larger but more effortful rewards (e.g., typing more letter strings to receive the reward). The first two experiments used a crossover design in which one session was conducted after a normal night of sleep (RW), and the other after a night without sleep (SD). The first experiment evaluated only temporal discounting whereas the second evaluated temporal and effort discounting. In the second experiment, the discounting tasks were repeatedly administered prior to the state comparisons to minimize the effects of order and/or repeated testing. In a third experiment, participants were studied only once in a between-subject evaluation of discounting across states. The study took place in a research laboratory. Seventy-seven healthy young adult participants: 20 in Experiment 1, 27 in Experiment 2, and 30 in Experiment 3. N/A. Sleep deprivation elicited increased effort discounting but did not affect delay discounting. The dissociable effects of sleep deprivation on two forms of discounting behavior suggest that they may have differing underlying neural mechanisms.

E-Rate: Keeping the Promise To Connect Kids and Communities to the Future.

ERIC Educational Resources Information Center

Johnson, Aleck; Harris, Leslie; Bond, Jill; Lee, Jee Hang; Raines, Ghani

Enacted as part of the Telecommunications Act of 1996, the E-rate provides discounts to public and private schools, libraries, and consortia on telecommunications services, Internet access, and internal networking. Discounts vary based on the poverty level of the community. The first section of this report presents findings from surveys returned…

77 FR 68886 - Rate for Use in Federal Debt Collection and Discount and Rebate Evaluation

Federal Register 2010, 2011, 2012, 2013, 2014

2012-11-16

... outstanding debts owed to the Government. Treasury's Cash Management Requirements (TFM Volume I, Part 6, Chapter 8000) prescribe use of this rate by agencies as a comparison point in evaluating the cost-effectiveness of a cash discount. In addition, 5 CFR 1315.8 of the Prompt Payment rule on ``Rebates'' requires...

76 FR 72498 - Rate for Use in Federal Debt Collection and Discount and Rebate Evaluation

Federal Register 2010, 2011, 2012, 2013, 2014

2011-11-23

... evaluating the cost-effectiveness of a cash discount. In addition, 5 CFR 1315.8 of the Prompt Payment rule on... interest charges for outstanding debts owed to the Government. Treasury's Cash Management Requirements (TFM...: The rate reflects the current value of funds to the Treasury for use in connection with Federal Cash...

Time value of emission and technology discounting rate for off-grid electricity generation in India using intermediate pyrolysis

DOE Office of Scientific and Technical Information (OSTI.GOV)

Patel, Amit, E-mail: amitrp@iitrpr.ac.in; Faculty of Technology and Engineering, The Maharaja Sayajirao University of Baroda, Vadodara 390001, Gujarat; Sarkar, Prabir

The environmental impact assessment of a process over its entire operational lifespan is an important issue. Estimation of life cycle emission helps in predicting the contribution of a given process to abate (or to pollute) the environmental emission scenario. Considering diminishing and time-dependent effect of emission, assessment of the overall effect of emissions is very complex. The paper presents a generalized methodology for arriving at a single emission discounting number for a process option, using the concept of time value of carbon emission flow. This number incorporates the effect of the emission resulting from the process over the entire operationalmore » lifespan. The advantage of this method is its quantitative aspect as well as its flexible nature. It can be applied to any process. The method is demonstrated with the help of an Intermediate Pyrolysis process when used to generate off-grid electricity and opting biochar route for disposing straw residue. The scenarios of very high net emission to very high net carbon sequestration is generated using process by careful selection of process parameters for different scenarios. For these different scenarios, the process discounting rate was determined and its outcome is discussed. The paper also proposes a process specific eco-label that mentions the discounting rates. - Highlight: • Methodology to obtain emission discounting rate for a process is proposed. • The method includes all components of life cycle emission converts into a time dependent discounting number. • A case study of Intermediate Pyrolysis is used to obtain such number for a range of processes. • The method is useful to determine if the effect from the operation of a process will lead to a net absorption of emission or net accumulation of emission in the environment.« less

The neural basis of cultural differences in delay discounting

PubMed Central

Kim, Bokyung; Sung, Young Shin; McClure, Samuel M.

2012-01-01

People generally prefer to receive rewarding outcomes sooner rather than later. Such preferences result from delay discounting, or the process by which outcomes are devalued for the expected delay until their receipt. We investigated cultural differences in delay discounting by contrasting behaviour and brain activity in separate cohorts of Western (American) and Eastern (Korean) subjects. Consistent with previous reports, we find a dramatic difference in discounting behaviour, with Americans displaying much greater present bias and elevated discount rates. Recent neuroimaging findings suggest that differences in discounting may arise from differential involvement of either brain reward areas or regions in the prefrontal and parietal cortices associated with cognitive control. We find that the ventral striatum is more greatly recruited in Americans relative to Koreans when discounting future rewards, but there is no difference in prefrontal or parietal activity. This suggests that a cultural difference in emotional responsivity underlies the observed behavioural effect. We discuss the implications of this research for strategic interrelations between Easterners and Westerners. PMID:22271781

Brain activity in valuation regions while thinking about the future predicts individual discount rates.

PubMed

Cooper, Nicole; Kable, Joseph W; Kim, B Kyu; Zauberman, Gal

2013-08-07

People vary widely in how much they discount delayed rewards, yet little is known about the sources of these differences. Here we demonstrate that neural activity in ventromedial prefrontal cortex (VMPFC) and ventral striatum (VS) when human subjects are asked to merely think about the future--specifically, to judge the subjective length of future time intervals--predicts delay discounting. High discounters showed lower activity for longer time delays, while low discounters showed the opposite pattern. Our results demonstrate that the correlation between VMPFC and VS activity and discounting occurs even in the absence of choices about future rewards, and does not depend on a person explicitly evaluating future outcomes or judging their self-relevance. This suggests a link between discounting and basic processes involved in thinking about the future, such as temporal perception. Our results also suggest that reducing impatience requires not suppression of VMPFC and VS activity altogether, but rather modulation of how these regions respond to the present versus the future.

Discounting of Condom-Protected Sex as a Measure of High Risk for Sexually Transmitted Infection Among College Students.

PubMed

Collado, Anahí; Johnson, Patrick S; Loya, Jennifer M; Johnson, Matthew W; Yi, Richard

2017-10-01

The study examined sexual delay discounting, or the devaluation of condom-protected sex in the face of delay, as a risk factor for sexually transmitted infection (STI) among college students. Participants (143 females, 117 males) completed the sexual delay discounting task (Johnson & Bruner, 2012) and questionnaires of risky sexual behavior, risk perception, and knowledge. Participants exhibited steeper sexual delay discounting (above and beyond general likelihood of having unprotected sex) when partners were viewed as more desirable or less likely to have a STI, with males demonstrating greater sexual delay discounting than females across most conditions. Importantly, greater self-reported risky sexual behaviors were associated with higher rates of sexual delay discounting, but not with likelihood of using a condom in the absence of delay. These results provide support for considering sexual delay discounting, with particular emphasis on potential delays to condom use, as a risk factor for STI among college students.

Brain Activity in Valuation Regions while Thinking about the Future Predicts Individual Discount Rates

PubMed Central

Cooper, Nicole; Kim, B. Kyu; Zauberman, Gal

2013-01-01

People vary widely in how much they discount delayed rewards, yet little is known about the sources of these differences. Here we demonstrate that neural activity in ventromedial prefrontal cortex (VMPFC) and ventral striatum (VS) when human subjects are asked to merely think about the future—specifically, to judge the subjective length of future time intervals—predicts delay discounting. High discounters showed lower activity for longer time delays, while low discounters showed the opposite pattern. Our results demonstrate that the correlation between VMPFC and VS activity and discounting occurs even in the absence of choices about future rewards, and does not depend on a person explicitly evaluating future outcomes or judging their self-relevance. This suggests a link between discounting and basic processes involved in thinking about the future, such as temporal perception. Our results also suggest that reducing impatience requires not suppression of VMPFC and VS activity altogether, but rather modulation of how these regions respond to the present versus the future. PMID:23926268

Delay discounting, impulsiveness, and addiction severity in opioid-dependent patients.

PubMed

Robles, Elias; Huang, B Emma; Simpson, Pippa M; McMillan, Donald E

2011-12-01

Individuals who abuse drugs show higher delay discounting (DD) rate and impulsiveness scores compared with controls; however, it is unclear if DD rate covaries with severity of the addiction or if an individual's discounting rate can be changed by effective substance abuse treatment. This study compared methadone maintenance treatment (MMT) patients (n = 30) who had not used illegal drugs for 2 years with drug-using MMT patients (n = 30) and controls (n = 25) in terms of addiction severity, DD rate, and impulsiveness. Methadone patients abstinent from illegal drugs scored significantly lower on a number of addiction severity measures than the drug-using methadone patients. In addition, both groups of MMT patients showed significantly higher rates of DD and impulsiveness than the control group; however, no differences in DD rate or impulsiveness were found between the groups of patients. Results suggest that DD rate and impulsiveness may not covary with indicators of addiction severity in MMT patients. Published by Elsevier Inc.

Impacts of religious semantic priming on an intertemporal discounting task: Response time effects and neural correlates.

PubMed

Morgan, Jonathan; Clark, Dustin; Tripodis, Yorghos; Halloran, Christopher S; Minsky, April; Wildman, Wesley J; Durso, Raymon; McNamara, Patrick

2016-08-01

The purpose of this study is to test the hypothesis that religious primes would influence intertemporal discounting behaviors in neurotypical older adults, but not in participants with Parkinson's disease (PD). Furthermore, we predicted that this priming effect would be related to functional connectivity within neural networks mediating religious cognition, decision-making, reward valuing, and prospection processes. Contrary to past research with young adults, we found a significant positive relationship between religiosity and discounting rates. Religious semantic primes did not reliably shift individual discounting rates. But religious controls did respond more quickly to intertemporal decisions under the religious priming condition than the neutral condition, compared to response time differences among the participants with PD. Differences in response time were significantly associated with functional connectivity between the nucleus accumbens and various regions, including the left anterior cingulate cortex and Brodmann areas 10 and 46 in the right dorsolateral prefrontal cortex. These results suggest that religious primes influence discounting behavior via dopaminergic meso-limbic and right dorsolateral prefrontal supporting cognitive valuation and prospection processes. Copyright © 2016 Elsevier Ltd. All rights reserved.

A computer program for evaluating long-term forestry investments.

Treesearch

Dennis L. Schweitzer; Allen L. Lundgren; Robert F. Wambach

1967-01-01

Describes a computer program, written in FORTRAN, which has been developed to assist in evaluating long-term forestry investments. A series of discount rates are used to calculate the internal rate of return and discounted costs, incomes, and net worth for any investments specified by the user. The features of the program are illustrated and discussed in detail, and...

Balancing Accession and Retention. Cost and Productivity Tradeoffs.

DTIC Science & Technology

1983-03-01

Alternative ...’ i :. :- : . - :’: .-- . .:. . ,. , . -.- - - i . . . , . . -. - - .- - - . ’ ’:- LIST OF TABLES Page I Rating groups...for bonus payments and second-term pay are more than offset by reductions in recruiting and training costs and first-term pay. Alternatively , holding...discounted value using a 10 percent discount rate. Costs for AFEES processing and training are taken from the Navy Comprehensive Compensation and Supply

"Just Give Me a Number!" Practical Values for the Social Discount Rate

ERIC Educational Resources Information Center

Moore, Mark A.; Boardman, Anthony E.; Vining, Aidan R.; Weimer, David L.; Greenberg, David H.

2004-01-01

A major reason the quality of cost-benefit analysis (CBA) varies widely is inconsistent use of the social discount rate (SDR). This article offers guidance about the choice of the SDR. Namely, we recommend the following procedures: If the project is intragenerational (does not have effects beyond 50 years) and there is no crowding out of private…

A money management-based substance use treatment increases valuation of future rewards.

PubMed

Black, Anne C; Rosen, Marc I

2011-01-01

A positive association between delay discounting and substance use has been documented; substance users tend to discount future rewards more than non-users. However, studies detailing the responsiveness of delay discounting to interventions are lacking, and few have examined how any behavioral intervention affects delay discounting and whether these effects moderate changes in substance abuse. This study assesses the effectiveness of a money management intervention, Advisor-Teller Money Manager (ATM), in reducing delay discounting over time and the relationship of these effects to changes in cocaine use. Ninety psychiatric patients with histories of cocaine and/or alcohol use were randomly assigned to 36-weeks of ATM treatment or to a minimal-attention control condition. Delay discounting and cocaine use were measured throughout the intervention with a 52-week follow up measure of cocaine use. Analyses were conducted of (a) the effect of ATM on slopes of delay discounting and cocaine abstinence and (b) the relationship between change in delay discounting and change in cocaine abstinence. The ATM intervention was associated with significantly less delay discounting and less cocaine use over time relative to controls. Increases in delay discounting were associated with decreased abstinence from cocaine. ATM treatment decreased delay discounting rates and these effects extended to cocaine use. Concrete conceptualizations of future events, as occur in financial planning, with higher perceived probability may account for higher valuation of future rewards in counseled patients. Copyright © 2010 Elsevier Ltd. All rights reserved.

The Sexual Discounting Task: HIV Risk Behavior and the Discounting of Delayed Sexual Rewards in Cocaine Dependence

PubMed Central

Johnson, Matthew W.; Bruner, Natalie R.

2011-01-01

Background Cocaine dependence is associated with high rates of sexual risk behavior and HIV infection. However, little is known about the responsible mechanism(s). Methods Cocaine-dependent individuals (N=62) completed a novel Sexual Discounting Task assessing decisions between immediate unprotected sex and delayed sex with a condom across four hypothetical partners: most (and least) likely to have a sexually transmitted infection (STI), and most (and least) sexually desirable; a real rewards money delay-discounting task, and self-reported sexual risk behavior using the HIV Risk-Taking Behavior Scale (HRBS). Results Sexual Discounting Task results were largely systematic and showed a strong effect of delay in decreasing condom use. Sexual discounting (preference for immediate unprotected sex) was significantly greater when making responses for partners judged least (compared to most) likely to have an STI, and for partners judged most (compared to least) desirable. Differences in sexual discounting were significant after controlling for differences in condom use (with no delay) between conditions. Greater discounting in 3 or the 4 Sexual Discounting Task conditions, but not in the money discounting task, was associated with greater self-reported sexual risk behavior as measured by the HRBS Conclusions Results suggest that delay is a critical variable strongly affecting HIV sexual risk behavior, and that the Sexual Discounting Task provides a clinically sensitive measure of this phenomenon that may address a variety of questions about HIV risk in future research. The wealth of behavioral and neurobiological data on delay discounting should be brought to bear on HIV education and prevention. PMID:22055012

The Effects of Condom Availability on College Women's Sexual Discounting.

PubMed

Lemley, Shea M; Jarmolowicz, David P; Parkhurst, Daniel; Celio, Mark A

2018-04-01

College students commonly engage in risky sexual behaviors, such as casual sexual encounters and inconsistent condom use. Discounting paradigms that examine how individuals devalue rewards due to their delay or uncertainty have been used to improve our understanding of behavioral problems, including sexual risk. The current study assessed relations between college women's sexual partners discounting and risky sexual behavior. In this study, college women (N = 42) completed two sexual partners delay discounting tasks that assessed how choices among hypothetical sexual partners changed across a parametric range of delays in two conditions: condom availability and condom unavailability. Participants also completed two sexual partners probability discounting tasks that assessed partner choices across a parametric range of probabilities in condom availability and unavailability conditions. Additionally, participants reported risky sexual behavior on the Sexual Risk Survey (SRS). Participants discounted delayed partners more steeply in the condom availability condition, but those differences were significant only for those women with three or fewer lifetime sexual partners. There were no consistent differences in discounting rate across condom availability conditions for probability discounting. Sexual partners discounting measures correlated with risky sexual behaviors as measured by the SRS, but a greater number of significant relations were observed with the condoms-unavailable delay discounting task. These findings suggest the importance of examining the interaction of inconsistent condom use and multiple partners in examinations of sexual decision-making.

Alternative to the traditional discount method of wholesaler purchasing.

PubMed

Lee, G F; Bair, J N; Piz, J W

1982-07-01

A program of purchasing drugs from wholesalers at the wholesaler's exact invoice cost plus a percentage is described and compared with the traditional method of average wholesale price (AWP) less a discount. The comparison was conducted by the pharmacy department of a 310-bed, teaching hospital that awarded a one-year contract to a wholesaler offering its items at the exact cost plus a pre-established percentage. Data collected from monthly wholesaler computer printouts gave the following information on each product: (1) list price per item, (2) actual cost to pharmacy per item, (3) percentage discount from AWP, and (4) quantity ordered. The net percentage discount from AWP for 12 months was calculated and compared to the former (traditional) discount rate. The net discount from AWP was 15.6% for purchases made by the hospital during the first 12 months of the program. When compared with the smaller discount the hospital traditionally received, the new program saved the hospital $5758 on annual purchases of $136,419. The actual dollar savings to an institution that changes from a traditional discount program to a cost-plus-percentage program depends on: (1) the negotiated percentage added to wholesaler cost, (2) the discount from AWP that the institution was previously receiving, and (3) the volume of wholesale purchases.

Retailer Stackelberg game in a supply chain with pricing and service decisions and simple price discount contract.

PubMed

Sadjadi, Seyed Jafar; Asadi, Hashem; Sadeghian, Ramin; Sahebi, Hadi

2018-01-01

This paper studies the Retailer Stackelberg game in a supply chain consisting of two manufacturers and one retailer where they compete simultaneously under three factors including price, service and simple price discount contract. It is assumed that the second manufacturer provides service directly to his customers, and the retailer provides service for the first product's customers, while the retailer buys the first product under price discount from the first manufacturer. The analysis of the optimal equilibrium solutions and the results of the numerical examples show that if a manufacturer chooses the appropriate range of discount rate, he will gain more profit than when there is no discount given to the retailer. This situation can be considered as an effective tool for the coordination of the first manufacturer and the retailer to offer discount by manufacturer and to provide the service by the retailer. We obtain equilibrium solution of Retailer Stackelberg game and analyze the numerical examples under two cases: a) the manufacturers sell their products to the retailer without price discount contract. b) The first manufacturer sells his products to the retailer with the simple price discount contract. The preliminary results show that the service and the price discount contract can improve the performance of supply chain.

Retailer Stackelberg game in a supply chain with pricing and service decisions and simple price discount contract

PubMed Central

Sadjadi, Seyed Jafar; Sadeghian, Ramin; Sahebi, Hadi

2018-01-01

This paper studies the Retailer Stackelberg game in a supply chain consisting of two manufacturers and one retailer where they compete simultaneously under three factors including price, service and simple price discount contract. It is assumed that the second manufacturer provides service directly to his customers, and the retailer provides service for the first product’s customers, while the retailer buys the first product under price discount from the first manufacturer. The analysis of the optimal equilibrium solutions and the results of the numerical examples show that if a manufacturer chooses the appropriate range of discount rate, he will gain more profit than when there is no discount given to the retailer. This situation can be considered as an effective tool for the coordination of the first manufacturer and the retailer to offer discount by manufacturer and to provide the service by the retailer. We obtain equilibrium solution of Retailer Stackelberg game and analyze the numerical examples under two cases: a) the manufacturers sell their products to the retailer without price discount contract. b) The first manufacturer sells his products to the retailer with the simple price discount contract. The preliminary results show that the service and the price discount contract can improve the performance of supply chain. PMID:29649315

Risk preferences impose a hidden distortion on measures of choice impulsivity

PubMed Central

Konova, Anna B.; Louie, Kenway; Glimcher, Paul W.

2018-01-01

Measuring temporal discounting through the use of intertemporal choice tasks is now the gold standard method for quantifying human choice impulsivity (impatience) in neuroscience, psychology, behavioral economics, public health and computational psychiatry. A recent area of growing interest is individual differences in discounting levels, as these may predispose to (or protect from) mental health disorders, addictive behaviors, and other diseases. At the same time, more and more studies have been dedicated to the quantification of individual attitudes towards risk, which have been measured in many clinical and non-clinical populations using closely related techniques. Economists have pointed to interactions between measurements of time preferences and risk preferences that may distort estimations of the discount rate. However, although becoming standard practice in economics, discount rates and risk preferences are rarely measured simultaneously in the same subjects in other fields, and the magnitude of the imposed distortion is unknown in the assessment of individual differences. Here, we show that standard models of temporal discounting —such as a hyperbolic discounting model widely present in the literature which fails to account for risk attitudes in the estimation of discount rates— result in a large and systematic pattern of bias in estimated discounting parameters. This can lead to the spurious attribution of differences in impulsivity between individuals when in fact differences in risk attitudes account for observed behavioral differences. We advance a model which, when applied to standard choice tasks typically used in psychology and neuroscience, provides both a better fit to the data and successfully de-correlates risk and impulsivity parameters. This results in measures that are more accurate and thus of greater utility to the many fields interested in individual differences in impulsivity. PMID:29373590

Value of the distant future: Model-independent results

NASA Astrophysics Data System (ADS)

Katz, Yuri A.

2017-01-01

This paper shows that the model-independent account of correlations in an interest rate process or a log-consumption growth process leads to declining long-term tails of discount curves. Under the assumption of an exponentially decaying memory in fluctuations of risk-free real interest rates, I derive the analytical expression for an apt value of the long run discount factor and provide a detailed comparison of the obtained result with the outcome of the benchmark risk-free interest rate models. Utilizing the standard consumption-based model with an isoelastic power utility of the representative economic agent, I derive the non-Markovian generalization of the Ramsey discounting formula. Obtained analytical results allowing simple calibration, may augment the rigorous cost-benefit and regulatory impact analysis of long-term environmental and infrastructure projects.

Toward an implicit measure of emotions: ratings of abstract images reveal distinct emotional states.

PubMed

Bartoszek, Gregory; Cervone, Daniel

2017-11-01

Although implicit tests of positive and negative affect exist, implicit measures of distinct emotional states are scarce. Three experiments examined whether a novel implicit emotion-assessment task, the rating of emotion expressed in abstract images, would reveal distinct emotional states. In Experiment 1, participants exposed to a sadness-inducing story inferred more sadness, and less happiness, in abstract images. In Experiment 2, an anger-provoking interaction increased anger ratings. In Experiment 3, compared to neutral images, spider images increased fear ratings in spider-fearful participants but not in controls. In each experiment, the implicit task indicated elevated levels of the target emotion and did not indicate elevated levels of non-target negative emotions; the task thus differentiated among emotional states of the same valence. Correlations also supported the convergent and discriminant validity of the implicit task. Supporting the possibility that heuristic processes underlie the ratings, group differences were stronger among those who responded relatively quickly.

Tables of compound-discount interest rate multipliers for evaluating forestry investments.

Treesearch

Allen L. Lundgren

1971-01-01

Tables, prepared by computer, are presented for 10 selected compound-discount interest rate multipliers commonly used in financial analyses of forestry investments. Two set of tables are given for each of the 10 multipliers. The first set gives multipliers for each year from 1 to 40 years; the second set gives multipliers at 5-year intervals from 5 to 160 years....

Discount rates and the education gradient in mammography in the UK.

PubMed

Bíró, Anikó

2013-09-01

I analyse intertemporal decisions on undertaking breast cancer screening by women aged 50-64  years in the UK and provide estimates of the rate of discounting potential future benefits of screening. I also analyse education differences in mammography decisions and examine the underlying mechanisms by which education influences breast cancer screening attendance. I estimate a structural model, which reveals that although there are differences in the disutility of breast cancer screening between education groups, there is no difference in the estimated discount factor. These results suggest that the observed education gradient is mainly due to differences in health behaviours and healthcare attitudes. Copyright © 2013 John Wiley & Sons, Ltd.

Economic rate of discount and estimating cost benefit of viral immunisation programmes.

PubMed

West, R R

1999-01-01

Many individual and societal decisions over purchase (or investment) involve consideration of timing, in that either the price may be paid now and the benefit enjoyed some time in the future or the converse the benefit enjoyed now and the price paid later. Since most individuals generally prefer the present to the future, economic theory has conventionally discounted future costs or benefits to estimate 'net present values'. The rationale for this is principally based on future uncertainty. In recent years, economists have turned their attention to valuing health as an economic 'good'. Observations of individual behaviour would imply that individuals discount future health, as other potential benefits, mostly because there is some uncertainty about their futures. Although economic theory is strongly predicated on the 'sovereignty of the individual', it does not necessarily follow that society discounts the future as do individuals, since for society the future is not so uncertain. Society's endorsement of many public health and preventive medicine objectives, which seek health gains in the future (rather than the present), imply that society's rate of discount may be appreciably lower than that of individuals. In immunisation, arguably one of the most effective of preventive measures, there is the additional benefit to others attributable to herd immunity. This paper argues that the future health gains for society arising from immunisation should not be underestimated by application of inappropriate discounting.

Methods for Performing Survival Curve Quality-of-Life Assessments.

PubMed

Sumner, Walton; Ding, Eric; Fischer, Irene D; Hagen, Michael D

2014-08-01

Many medical decisions involve an implied choice between alternative survival curves, typically with differing quality of life. Common preference assessment methods neglect this structure, creating some risk of distortions. Survival curve quality-of-life assessments (SQLA) were developed from Gompertz survival curves fitting the general population's survival. An algorithm was developed to generate relative discount rate-utility (DRU) functions from a standard survival curve and health state and an equally attractive alternative curve and state. A least means squared distance algorithm was developed to describe how nearly 3 or more DRU functions intersect. These techniques were implemented in a program called X-Trade and tested. SQLA scenarios can portray realistic treatment choices. A side effect scenario portrays one prototypical choice, to extend life while experiencing some loss, such as an amputation. A risky treatment scenario portrays procedures with an initial mortality risk. A time trade scenario mimics conventional time tradeoffs. Each SQLA scenario yields DRU functions with distinctive shapes, such as sigmoid curves or vertical lines. One SQLA can imply a discount rate or utility if the other value is known and both values are temporally stable. Two SQLA exercises imply a unique discount rate and utility if the inferred DRU functions intersect. Three or more SQLA results can quantify uncertainty or inconsistency in discount rate and utility estimates. Pilot studies suggested that many subjects could learn to interpret survival curves and do SQLA. SQLA confuse some people. Compared with SQLA, standard gambles quantify very low utilities more easily, and time tradeoffs are simpler for high utilities. When discount rates approach zero, time tradeoffs are as informative and easier to do than SQLA. SQLA may complement conventional utility assessment methods. © The Author(s) 2014.

Financial modeling in medicine: cash flow, basic metrics, the time value of money, discount rates, and internal rate of return.

PubMed

Lexa, Frank James; Berlin, Jonathan W

2005-03-01

In this article, the authors cover tools for financial modeling. Commonly used time lines and cash flow diagrams are discussed. Commonly used but limited terms such as payback and breakeven are introduced. The important topics of the time value of money and discount rates are introduced to lay the foundation for their use in modeling and in more advanced metrics such as the internal rate of return. Finally, the authors broach the more sophisticated topic of net present value.

Effects of delay and probability combinations on discounting in humans

PubMed Central

Cox, David J.; Dallery, Jesse

2017-01-01

To determine discount rates, researchers typically adjust the amount of an immediate or certain option relative to a delayed or uncertain option. Because this adjusting amount method can be relatively time consuming, researchers have developed more efficient procedures. One such procedure is a 5-trial adjusting delay procedure, which measures the delay at which an amount of money loses half of its value (e.g., $1000 is valued at $500 with a 10-year delay to its receipt). Experiment 1 (n = 212) used 5-trial adjusting delay or probability tasks to measure delay discounting of losses, probabilistic gains, and probabilistic losses. Experiment 2 (n = 98) assessed combined probabilistic and delayed alternatives. In both experiments, we compared results from 5-trial adjusting delay or probability tasks to traditional adjusting amount procedures. Results suggest both procedures produced similar rates of probability and delay discounting in six out of seven comparisons. A magnitude effect consistent with previous research was observed for probabilistic gains and losses, but not for delayed losses. Results also suggest that delay and probability interact to determine the value of money. Five-trial methods may allow researchers to assess discounting more efficiently as well as study more complex choice scenarios. PMID:27498073

Effects of episodic future thinking on discounting: Personalized age-progressed pictures improve risky long-term health decisions.

PubMed

Kaplan, Brent A; Reed, Derek D; Jarmolowicz, David P

2016-03-01

Many everyday choices are associated with both delayed and probabilistic outcomes. The temporal attention hypothesis suggests that individuals' decision making can be improved by focusing attention on temporally distal events and implies that environmental manipulations that bring temporally distal outcomes into focus may alter an individual's degree of discounting. One such manipulation, episodic future thinking, has shown to lower discount rates; however, several questions remain about the applicability of episodic future thinking to domains other than delay discounting. The present experiments examine the effects of a modified episodic-future-thinking procedure in which participants viewed age-progressed computer-generated images of themselves and answered questions related to their future, on probability discounting in the context of both a delayed health gain and loss. Results indicate that modified episodic future thinking effectively altered individuals' degree of discounting in the predicted directions and demonstrate the applicability of episodic future thinking to decision making of socially significant outcomes. © 2015 Society for the Experimental Analysis of Behavior.

United States Marine Corps Personal Discount Rates: As Evidenced from Voluntary Separation Payment Programs

DTIC Science & Technology

2006-03-01

1995. The Personal Discount Rate: Evidence from Air Force Loss Programs. Mankiw , N.G. 2004. Principles of Economics : Third Edition. Mason, OH...study also determined those personal, professional, and economic traits that had a significant influence on Marines during their separation payment...study also determined those personal, professional, and economic traits that had a significant influence on Marines during their separation payment

Time discounting and protected-area priorities.

PubMed

Armsworth, Paul R

2018-05-08

Should conservation organizations focus on protecting habitats that are at imminent risk of being converted but are expensive or more remote areas that are less immediately threatened but where a large amount of land can be set aside? Variants of this trade-off commonly arise in spatial planning. We examined this trade-off using models of land use change near a deforestation frontier. The optimal choice of where to protect was determined by how decisions taken today accounted for ecological benefits and economic costs of conservation actions that would occur sometime in the future. We used an ecological and economic discount rate to weight these benefits and costs. A large economic discount rate favored protecting more remote areas, whereas a large, positive ecological discount rate favored protecting habitat near the current deforestation frontier. We also showed how the decision over where to protect was impacted by the influence that economic factors had in determining landowners' decisions, the rate of technological change and ecological heterogeneity of the landscape. How benefits and costs through time are accounted for warrants careful consideration when specifying conservation objectives. It may provide a niche axis along which conservation organizations differentiate themselves when competing for donor funding or other support. This article is protected by copyright. All rights reserved. This article is protected by copyright. All rights reserved.

75 FR 58449 - Postal Rates

Federal Register 2010, 2011, 2012, 2013, 2014

2010-09-24

... discount design. The proceeding will allow certain issues raised in an earlier proceeding to be fully... important threshold legal and policy issues underlying the design of workshare discounts. The Commission... Mail that is CASS-certified and bears an Intelligent Mail barcode. All of these issues are eligible for...

Can you change my preferences? Effect of social influence on intertemporal choice behavior.

PubMed

Calluso, Cinzia; Tosoni, Annalisa; Fortunato, Gianfranco; Committeri, Giorgia

2017-07-14

The present study presents a novel social observation paradigm to examine whether temporal discounting (TD) can be modulated in a specific direction. In particular, after estimating a baseline discount rate, we exposed subjects to a pattern of choice that was opposite to their baseline preferences, i.e., subjects preferring immediate over delayed rewards were exposed to a farsighted pattern of behavior and vice-versa. The results showed a significant decrease of the discount rate in the discounter group and an increase in the farsighted group. The effect was mainly guided by a modification of the subjective values at short time delays and was stronger in subjects with extreme, compared to mild, baseline preferences. Importantly, the magnitude and direction of the effect predicted the baseline preferences. These findings have potentially very relevant implications for the prevention and treatment of clinical conditions, such as addition-related disorders, characterized by severe impairments of decision-making mechanisms. Copyright © 2017 Elsevier B.V. All rights reserved.

The choice of discount brand cigarettes: a comparative analysis of International Tobacco Control surveys in Canada and the USA (2002-2005).

PubMed

Nargis, Nigar; Fong, Geoffrey T; Chaloupka, Frank J; Li, Qiang

2014-03-01

Increasing tobacco taxes to increase price is a proven tobacco control measure. This article investigates how smokers respond to tax and price increases in their choice of discount brand cigarettes versus premium brands. To estimate how increase in the tax rate can affect smokers' choice of discount brands versus premium brands. Using data from International Tobacco Control surveys in Canada and the USA, a logit model was constructed to estimate the probability of choosing discount brand cigarettes in response to its price changes relative to premium brands, controlling for individual-specific demographic and socioeconomic characteristics and regional effects. The self-reported price of an individual smoker is used in a random-effects regression model to impute price and to construct the price ratio for discount and premium brands for each smoker, which is used in the logit model. An increase in the ratio of price of discount brand cigarettes to the price of premium brands by 0.1 is associated with a decrease in the probability of choosing discount brands by 0.08 in Canada. No significant effect is observed in case of the USA. The results of the model explain two phenomena: (1) the widened price differential between premium and discount brand cigarettes contributed to the increased share of discount brand cigarettes in Canada in contrast to a relatively steady share in the USA during 2002-2005 and (2) increasing the price ratio of discount brands to premium brands-which occurs with an increase in specific excise tax-may lead to upward shifting from discount to premium brands rather than to downward shifting. These results underscore the significance of studying the effectiveness of tax increases in reducing overall tobacco consumption, particularly for specific excise taxes.

Attention-deficit/hyperactivity disorder, delay discounting, and risky financial behaviors: A preliminary analysis of self-report data

PubMed Central

2017-01-01

Delay discounting—often referred to as hyperbolic discounting in the financial literature—is defined by a consistent preference for smaller, immediate rewards over larger, delayed rewards, and by failure of future consequences to curtail current consummatory behaviors. Previous research demonstrates (1) excessive delay discounting among individuals with attention-deficit/hyperactivity disorder (ADHD), (2) common neural substrates of delay discounting and hyperactive-impulsive symptoms of ADHD, and (3) associations between delay discounting and both debt burden and high interest rate borrowing. This study extends prior research by examining associations between ADHD symptoms, delay discounting, and an array of previously unevaluated financial outcomes among 544 individuals (mean age 35 years). Controlling for age, income, sex, education, and substance use, ADHD symptoms were associated with delay discounting, late credit card payments, credit card balances, use of pawn services, personal debt, and employment histories (less time spent at more jobs). Consistent with neural models of reward processing and associative learning, more of these relations were attributable to hyperactive-impulsive symptoms than inattentive symptoms. Implications for financial decision-making and directions for future research are discussed. PMID:28481903

A Mechanism for Reducing Delay Discounting by Altering Temporal Attention

PubMed Central

Radu, Peter T; Yi, Richard; Bickel, Warren K; Gross, James J; McClure, Samuel M

2011-01-01

Rewards that are not immediately available are discounted compared to rewards that are immediately available. The more a person discounts a delayed reward, the more likely that person is to have a range of behavioral problems, including clinical disorders. This latter observation has motivated the search for interventions that reduce discounting. One surprisingly simple method to reduce discounting is an “explicit-zero” reframing that states default or null outcomes. Reframing a classical discounting choice as “something now but nothing later” versus “nothing now but more later” decreases discount rates. However, it is not clear how this “explicit-zero” framing intervention works. The present studies delineate and test two possible mechanisms to explain the phenomenon. One mechanism proposes that the explicit-zero framing creates the impression of an improving sequence, thereby enhancing the present value of the delayed reward. A second possible mechanism posits an increase in attention allocation to temporally distant reward representations. In four experiments, we distinguish between these two hypothesized mechanisms and conclude that the temporal attention hypothesis is superior for explaining our results. We propose a model of temporal attention whereby framing affects intertemporal preferences by modifying present bias. PMID:22084496

Social Discounting and the Prisoner’s Dilemma Game

PubMed Central

Locey, Matthew L.; Safin, Vasiliy; Rachlin, Howard

2014-01-01

Altruistic behavior has been defined in economic terms as “…costly acts that confer economic benefits on other individuals” (Fehr & Fischbacher, 2003). In a prisoner’s dilemma game, cooperation benefits the group but is costly to the individual (relative to defection), yet a significant number of players choose to cooperate. We propose that people do value rewards to others, albeit at a discounted rate (social discounting), in a manner similar to discounting of delayed rewards (delay discounting). Two experiments opposed the personal benefit from defection to the socially discounted benefit to others from cooperation. The benefit to others was determined from a social discount function relating the individual’s subjective value of a reward to another person and the social distance between that individual and the other person. In Experiment 1, the cost of cooperating was held constant while its social benefit was varied in terms of the number of other players, each gaining a fixed, hypothetical amount of money. In Experiment 2, the cost of cooperating was again held constant while the social benefit of cooperating was varied by the hypothetical amount of money earned by a single other player. In both experiments, significantly more participants cooperated when the social benefit was higher. PMID:23344990

Delay and probability discounting of multiple commodities in smokers and never-smokers using multiple-choice tasks.

PubMed

Poltavski, Dmitri V; Weatherly, Jeffrey N

2013-12-01

The purpose of the present study was to investigate temporal and probabilistic discounting in smokers and never-smokers, across a number of commodities, using a multiple-choice method. One hundred and eighty-two undergraduate university students, of whom 90 had never smoked, 73 were self-reported light smokers (<10 cigarettes/day), and 17 were heavy smokers (10+cigarettes/day), completed computerized batteries of delay and probability discounting questions pertaining to a total of eight commodities and administered in a multiple-choice format. In addition to cigarettes, monetary rewards, and health outcomes, the tasks included novel commodities such as ideal dating partner and retirement income. The results showed that heavy smokers probability discounted commodities at a significantly shallower rate than never-smokers, suggesting greater risk-taking. No effect of smoking status was observed for delay discounting questions. The only commodity that was probability discounted significantly less than others was 'finding an ideal dating partner'. The results suggest that probability discounting tasks using the multiple-choice format can discriminate between non-abstaining smokers and never-smokers and could be further explored in the context of behavioral and drug addictions.

Delay discounting of food by rhesus monkeys: Cocaine and food choice in isomorphic and allomorphic situations.

PubMed

Huskinson, Sally L; Woolverton, William L; Green, Leonard; Myerson, Joel; Freeman, Kevin B

2015-06-01

Research on delay discounting has focused largely on nondrug reinforcers in an isomorphic context in which choice is between alternatives that involve the same type of reinforcer. Less often, delay discounting has been studied with drug reinforcers in a more ecologically valid allomorphic context where choice is between alternatives involving different types of reinforcers. The present experiment is the first to examine discounting of drug and nondrug reinforcers in both isomorphic and allomorphic situations using a theoretical model (i.e., the hyperbolic discounting function) that allows for comparisons of discounting rates between reinforcer types and amounts. The goal of the current experiment was to examine discounting of a delayed, nondrug reinforcer (food) by male rhesus monkeys when the immediate alternative was either food (isomorphic situation) or cocaine (allomorphic situation). In addition, we sought to determine whether there was a magnitude effect with delayed food in the allomorphic situation. Choice of immediate food and immediate cocaine increased with amount and dose, respectively. Choice functions for immediate food and cocaine generally shifted leftward as delay increased. Compared to isomorphic situations in which food was the immediate alternative, delayed food was discounted more steeply in allomorphic situations where cocaine was the immediate alternative. Notably, discounting was not affected by the magnitude of the delayed reinforcer. These data indicate that how steeply a delayed nondrug reinforcer is discounted may depend more on the qualitative characteristics of the immediate reinforcer and less on the magnitude of the delayed one. (c) 2015 APA, all rights reserved).

Sharing, Discounting, and Selfishness: A Japanese-American Comparison

ERIC Educational Resources Information Center

Ito, Masato; Saeki, Daisuke; Green, Leonard

2011-01-01

Social discounting rates were compared between Japanese and American college students. In a series of psychophysical questionnaire tasks, participants chose between a hypothetical unshared monetary reward and a hypothetical monetary reward to be shared with other people (relatives or strangers), to determine amounts of the unshared reward…

Narrative theory: II. Self-generated and experimenter-provided negative income shock narratives increase delay discounting.

PubMed

Mellis, Alexandra M; Snider, Sarah E; Bickel, Warren K

2018-04-01

Reading experimenter-provided narratives of negative income shock has been previously demonstrated to increase impulsivity, as measured by discounting of delayed rewards. We hypothesized that writing these narratives would potentiate their effects of negative income shock on decision-making more than simply reading them. In the current study, 193 cigarette-smoking individuals from Amazon Mechanical Turk were assigned to either read an experimenter-provided narrative or self-generate a narrative describing either the negative income shock of job loss or a neutral condition of job transfer. Individuals then completed a task of delay discounting and measures of affective response to narratives, as well as rating various narrative qualities such as personal relevance and vividness. Consistent with past research, narratives of negative income shock increased delay discounting compared to control narratives. No significant differences existed in delay discounting after self-generating compared to reading experimenter-provided narratives. Positive affect was lower and negative affect was higher in response to narratives of job loss, but affect measures did not differ based on whether narratives were experimenter-provided or self-generated. All narratives were rated as equally realistic, but self-generated narratives (whether negative or neutral) were rated as more vivid and relevant than experimenter-provided narratives. These results indicate that the content of negative income shock narratives, regardless of source, consistently drives short-term choices. (PsycINFO Database Record (c) 2018 APA, all rights reserved).

Potential cost savings for Medi-Cal, AFDC, food stamps, and WIC programs associated with increasing breast-feeding among low-income Hmong women in California.

PubMed

Tuttle, C R; Dewey, K G

1996-09-01

To determine the potential cost savings for four social service programs if breast-feeding rates increased among Hmong women in California. Cost-savings analysis. Hmong women in California. In this population, breast-feeding is currently uncommon, and use of contraceptives is minimal. Savings were based on estimates of the resulting decrease in infant morbidity, maternal fertility, and formula purchases (Special Supplemental Nutrition Program for Women, Infants, and Children) if women breast-fed each child for at least 6 months. Costs were projected over a 7.5-year period and future values were discounted with annual interest rates of 2% or 4%. Substantial savings estimates were associated with breast-feeding for all four programs. The total projected savings over the 7.5-year period ranges from $3,442 to $4,944 (4% discount) to $4,475 to $6,0960 (0% discount) per family enrolled in all four programs. This translates into an estimated yearly savings of between $459 and $659 (4% discount) and $597 and $808 (0% discount) per family. Although health care providers generally accept that breast-feeding is the preferred method for feeding infants, many still view the choice as a neutral one; that is, they consider low breast-feeding rates in the United States a cultural choice with no cost to society. This analysis provides evidence that breast-feeding is economically advantageous for individuals and society.

An adaptive, individualized fMRI delay discounting procedure to increase flexibility and optimize scanner time.

PubMed

Koffarnus, Mikhail N; Deshpande, Harshawardhan U; Lisinski, Jonathan M; Eklund, Anders; Bickel, Warren K; LaConte, Stephen M

2017-11-01

Research on the rate at which people discount the value of future rewards has become increasingly prevalent as discount rate has been shown to be associated with many unhealthy patterns of behavior such as drug abuse, gambling, and overeating. fMRI research points to a fronto-parietal-limbic pathway that is active during decisions between smaller amounts of money now and larger amounts available after a delay. Researchers in this area have used different variants of delay discounting tasks and reported various contrasts between choice trials of different types from these tasks. For instance, researchers have compared 1) choices of delayed monetary amounts to choices of the immediate monetary amounts, 2) 'hard' choices made near one's point of indifference to 'easy' choices that require little thought, and 3) trials where an immediate choice is available versus trials where one is unavailable, regardless of actual eventual choice. These differences in procedure and analysis make comparison of results across studies difficult. In the present experiment, we designed a delay discounting task with the intended capability of being able to construct contrasts of all three comparisons listed above while optimizing scanning time to reduce costs and avoid participant fatigue. This was accomplished with an algorithm that customized the choice trials presented to each participant with the goal of equalizing choice trials of each type. We compared this task, which we refer to here as the individualized discounting task (IDT), to two other delay discounting tasks previously reported in the literature (McClure et al., 2004; Amlung et al., 2014) in 18 participants. Results show that the IDT can examine each of the three contrasts mentioned above, while yielding a similar degree of activation as the reference tasks. This suggests that this new task could be used in delay discounting fMRI studies to allow researchers to more easily compare their results to a majority of previous research while minimizing scanning duration. Copyright © 2017 Elsevier Inc. All rights reserved.

40 CFR 258.75 - Discounting.

Code of Federal Regulations, 2010 CFR

2010-07-01

... § 258.72(a), and/or corrective action costs in § 258.73(a) up to the rate of return for essentially risk free investments, net of inflation, under the following conditions: (a) The State Director determines... estimate of site life; and (d) Discounted cost estimates must be adjusted annually to reflect inflation and...

40 CFR 258.75 - Discounting.

Code of Federal Regulations, 2011 CFR

2011-07-01

... Protection of Environment ENVIRONMENTAL PROTECTION AGENCY (CONTINUED) SOLID WASTES CRITERIA FOR MUNICIPAL... State may allow discounting of closure cost estimates in § 258.71(a), post-closure cost estimates in § 258.72(a), and/or corrective action costs in § 258.73(a) up to the rate of return for essentially risk...

Aggregation of Heterogeneous Time Preferences

ERIC Educational Resources Information Center

Gollier, Christian; Zeckhauser, Richard

2005-01-01

We examine an economy whose consumers have different discount factors for utility, possibly not exponential. We characterize the properties of efficient allocations of resources and of the shadow prices that would decentralize such allocations. We show in particular that the representative agent has a decreasing discount rate when, as is usually…

Incremental cost-effectiveness of laser therapy for choroidal neovascularization associated with histoplasmosis.

PubMed

Brown, G C; Brown, M M; Sharma, S; Busbee, B; Brown, H

2000-01-01

Laser photocoagulation has been shown in a large clinical trial to be efficacious in reducing the degree of vision loss occurring secondary to choroidal neovascularization (CNV) associated with ocular histoplasmosis. Nevertheless, data are lacking concerning the impact of the therapy on quality of life and its value to stakeholders in health care. Recently, information concerning the utility value of visual states has become available. Accordingly, the authors undertook to ascertain the cost-effectiveness of laser photocoagulation for the treatment of extrafoveal CNV occurring in eyes with ocular histoplasmosis. Design--A computer simulation, econometric model is presented to evaluate the incremental cost-effectiveness of laser photocoagulation therapy, as compared with the natural course of the disease, for the treatment of patients with extrafoveal CNV associated with ocular histoplasmosis. The model applies long-term visual data from previous clinical trials, utility analysis (which reflects patient perceptions of quality of life), decision analysis with Markov modeling, and present value analysis with discounting to account for the time value of money. Outcome measure--Cost per quality-adjusted life-year gained from treatment. Laser photocoagulation therapy for extrafoveal CNV associated with ocular histoplasmosis costs $4167 1999 US dollars (at a 3% discount rate) for each quality-adjusted life-year gained from treatment. Sensitivity analysis shows that changing the discount rate substantially alters the cost-effectiveness, with a value of $1339 at a 0% discount rate and $56,250 at a 10% discount rate. Compared with therapeutic modalities for other disease entities, laser therapy for the treatment of extrafoveal CNV associated with ocular histoplasmosis appears to be a cost-effective treatment from the patient preference-based point of view.

Cocaine-dependent adults and recreational cocaine users are more likely than controls to choose immediate unsafe sex over delayed safer sex.

PubMed

Koffarnus, Mikhail N; Johnson, Matthew W; Thompson-Lake, Daisy G Y; Wesley, Michael J; Lohrenz, Terry; Montague, P Read; Bickel, Warren K

2016-08-01

Cocaine users have a higher incidence of risky sexual behavior and HIV infection than nonusers. Our aim was to measure whether safer sex discount rates-a measure of the likelihood of having immediate unprotected sex versus waiting to have safer sex-differed between controls and cocaine users of varying severity. Of the 162 individuals included in the primary data analyses, 69 met the Diagnostic and Statistical Manual of Mental Disorders (4th ed., text rev.; DSM-IV-TR) criteria for cocaine dependence, 29 were recreational cocaine users who did not meet the dependence criteria, and 64 were controls. Participants completed the Sexual Discounting Task, which measures a person's likelihood of using a condom when one is immediately available and how that likelihood decreases as a function of delay to condom availability with regard to 4 images chosen by the participants of hypothetical sexual partners differing in perceived desirability and likelihood of having a sexually transmitted infection. When a condom was immediately available, the stated likelihood of condom use sometimes differed between cocaine users and controls, which depended on the image condition. Even after controlling for rates of condom use when one is immediately available, the cocaine-dependent and recreational users groups were more sensitive to delay to condom availability than controls. Safer sex discount rates were also related to intelligence scores. The Sexual Discounting Task identifies delay as a key variable that impacts the likelihood of using a condom among these groups and suggests that HIV prevention efforts may be differentially effective based on an individual's safer sex discount rate. (PsycINFO Database Record (c) 2016 APA, all rights reserved).

Effects of delay and probability combinations on discounting in humans.

PubMed

Cox, David J; Dallery, Jesse

2016-10-01

To determine discount rates, researchers typically adjust the amount of an immediate or certain option relative to a delayed or uncertain option. Because this adjusting amount method can be relatively time consuming, researchers have developed more efficient procedures. One such procedure is a 5-trial adjusting delay procedure, which measures the delay at which an amount of money loses half of its value (e.g., $1000 is valued at $500 with a 10-year delay to its receipt). Experiment 1 (n=212) used 5-trial adjusting delay or probability tasks to measure delay discounting of losses, probabilistic gains, and probabilistic losses. Experiment 2 (n=98) assessed combined probabilistic and delayed alternatives. In both experiments, we compared results from 5-trial adjusting delay or probability tasks to traditional adjusting amount procedures. Results suggest both procedures produced similar rates of probability and delay discounting in six out of seven comparisons. A magnitude effect consistent with previous research was observed for probabilistic gains and losses, but not for delayed losses. Results also suggest that delay and probability interact to determine the value of money. Five-trial methods may allow researchers to assess discounting more efficiently as well as study more complex choice scenarios. Copyright © 2016 Elsevier B.V. All rights reserved.

Individual Differences in Discount Rate Are Associated With Demand for Self-Administered Cocaine, But Not Sucrose

PubMed Central

Koffarnus, Mikhail N.; Woods, James H.

2011-01-01

Substance abusers, including cocaine abusers, discount delayed rewards to a greater extent than do matched controls. In the current experiment, individual differences in discounting of delayed rewards in rats (choice of one immediate over three delayed sucrose pellets) were assessed for associations with demand for either sucrose pellets or an i.v. dose of 0.1 mg/kg/infusion cocaine. Twenty-four male Sprague Dawley rats were split into three groups based on sensitivity to delay to reinforcement. Then, demand for sucrose pellets and cocaine was determined across a range of fixed-ratio (FR) values. Delay discounting was then reassessed to determine the stability of this measure over the course of the experiment. Individual differences in impulsive choice were positively associated with elasticity of demand for cocaine, a measure of reinforcer value, indicating that rats having higher discount rates also valued cocaine more. Impulsive choice was not associated with level of cocaine consumption as price approached 0, or any parameter associated with demand for sucrose. Individual sensitivity to delay was correlated with the initial assessment when reassessed at the end of the experiment, although impulsive choice increased for this cohort of rats as a whole. These findings suggest that impulsive choice in rats is positively associated with valuation of cocaine, but not sucrose. PMID:21812874

Delay Discounting as an Index of Sustainable Behavior: Devaluation of Future Air Quality and Implications for Public Health.

PubMed

Berry, Meredith S; Nickerson, Norma P; Odum, Amy L

2017-09-01

Poor air quality and resulting annual deaths represent significant public health concerns. Recently, rapid delay discounting (the devaluation of future outcomes) of air quality has been considered a potential barrier for engaging in long term, sustainable behaviors that might help to reduce emissions (e.g., reducing private car use, societal support for clean air initiatives). Delay discounting has been shown to be predictive of real world behavior outside of laboratory settings, and therefore may offer an important framework beyond traditional variables thought to measure sustainable behavior such as importance of an environmental issue, or environmental attitudes/values, although more research is needed in this area. We examined relations between discounting of air quality, respiratory health, and monetary gains and losses. We also examined, relations between discounting and self-reported importance of air quality and respiratory health, and nature relatedness. Results showed rapid delay discounting of all outcomes across the time frames assessed, and significant positive correlations between delay discounting of air quality, respiratory health, and monetary outcomes. Steeper discounting of monetary outcomes relative to air quality and respiratory health outcomes was observed in the context of gains; however, no differences in discounting were observed across losses of monetary, air quality, and respiratory health. Replicating the sign effect, monetary outcomes were discounted more steeply than monetary losses. Importance of air quality, respiratory health and nature relatedness were significantly and positively correlated with one another, but not with degree of delay discounting of any outcome, demonstrating the need for more comprehensive measures that predict pro-environmental behaviors that might benefit individuals and public health over time. These results add to our understanding of decision-making, and demonstrate alarming rates of delay discounting of air quality and health. These results implicate a major public health concern and potential barriers to individual and societal behavior that reduce pollution and emissions for conservation of clean air.

Delay Discounting as an Index of Sustainable Behavior: Devaluation of Future Air Quality and Implications for Public Health

PubMed Central

Berry, Meredith S.; Nickerson, Norma P.; Odum, Amy L.

2017-01-01

Poor air quality and resulting annual deaths represent significant public health concerns. Recently, rapid delay discounting (the devaluation of future outcomes) of air quality has been considered a potential barrier for engaging in long term, sustainable behaviors that might help to reduce emissions (e.g., reducing private car use, societal support for clean air initiatives). Delay discounting has been shown to be predictive of real world behavior outside of laboratory settings, and therefore may offer an important framework beyond traditional variables thought to measure sustainable behavior such as importance of an environmental issue, or environmental attitudes/values, although more research is needed in this area. We examined relations between discounting of air quality, respiratory health, and monetary gains and losses. We also examined, relations between discounting and self-reported importance of air quality and respiratory health, and nature relatedness. Results showed rapid delay discounting of all outcomes across the time frames assessed, and significant positive correlations between delay discounting of air quality, respiratory health, and monetary outcomes. Steeper discounting of monetary outcomes relative to air quality and respiratory health outcomes was observed in the context of gains; however, no differences in discounting were observed across losses of monetary, air quality, and respiratory health. Replicating the sign effect, monetary outcomes were discounted more steeply than monetary losses. Importance of air quality, respiratory health and nature relatedness were significantly and positively correlated with one another, but not with degree of delay discounting of any outcome, demonstrating the need for more comprehensive measures that predict pro-environmental behaviors that might benefit individuals and public health over time. These results add to our understanding of decision-making, and demonstrate alarming rates of delay discounting of air quality and health. These results implicate a major public health concern and potential barriers to individual and societal behavior that reduce pollution and emissions for conservation of clean air. PMID:28862671

What Makes You Generous? The Influence of Rural and Urban Rearing on Social Discounting in China

PubMed Central

2015-01-01

An individual’s willingness to share resources declines as the social distance between the decision maker and the recipient increases, which is known as social discounting. This social-distance-dependent prosocial behavior is likely to be influenced by the region in which individuals were raised. Based on previous studies on social discounting, this research focuses on the differing social distance-dependent prosocial behaviors between rural- and urban-reared participants in China. Our data showed that both groups’ behaviors conform to the social discounting function and fit the hyperbolic model, as reported in previous studies about social discounting. Interestingly, individuals who were raised in rural areas yielded a smaller discount rate than those who were raised in urban areas, which indicated that a rural upbringing produced people who were more generous than those with an urban upbringing. Furthermore, this distinct type of generosity occurred notably among individuals with greater social distance, such as strangers or distant acquaintances. The reason may be due to the difference in dominant culture, production mode and lifestyle between rural and urban people. PMID:26172452

An alternative approach to calculating Area-Under-the-Curve (AUC) in delay discounting research.

PubMed

Borges, Allison M; Kuang, Jinyi; Milhorn, Hannah; Yi, Richard

2016-09-01

Applied to delay discounting data, Area-Under-the-Curve (AUC) provides an atheoretical index of the rate of delay discounting. The conventional method of calculating AUC, by summing the areas of the trapezoids formed by successive delay-indifference point pairings, does not account for the fact that most delay discounting tasks scale delay pseudoexponentially, that is, time intervals between delays typically get larger as delays get longer. This results in a disproportionate contribution of indifference points at long delays to the total AUC, with minimal contribution from indifference points at short delays. We propose two modifications that correct for this imbalance via a base-10 logarithmic transformation and an ordinal scaling transformation of delays. These newly proposed indices of discounting, AUClog d and AUCor d, address the limitation of AUC while preserving a primary strength (remaining atheoretical). Re-examination of previously published data provides empirical support for both AUClog d and AUCor d . Thus, we believe theoretical and empirical arguments favor these methods as the preferred atheoretical indices of delay discounting. © 2016 Society for the Experimental Analysis of Behavior.

Future Discounting in Congo Basin Hunter-Gatherers Declines with Socio-Economic Transitions.

PubMed

Salali, Gul Deniz; Migliano, Andrea Bamberg

2015-01-01

Humans have a tendency to discount the future; that is we value small, short-term rewards over larger, long-term rewards. The degree of future discounting, however, changes in response to socio-ecological factors. Here, we study Mbendjele BaYaka hunter-gatherers of northern Congo and their farmer neighbours to investigate adaptations in inter-temporal preferences in humans. We argue that in immediate-return systems, where food storage is absent and egalitarianism is enforced through levelling mechanisms, future discounting is an adaptive strategy to prevent wealth accumulation and the emergence of hierarchies. This ensures food sharing and allows for survival in unpredictable environments where there is risk of an energy shortfall. On the other hand, when food storage is made possible by the emergence of agriculture or as seen in some delayed-return hunter-gatherer populations, wealth accumulation, hierarchies and lower discount rates become the adaptive strategy. Therefore, individuals in immediate-return, egalitarian societies will discount the future more than those in non-egalitarian, delayed-return societies. Consistent with the predictions we found that market integration and socio-economic transitions decrease the future discounting in Mbendjele hunter-gatherers. Our measures of socio-economic differences marked this transition in hunter-gatherers living in a logging town. The degree of future-discounting was the same between more market-integrated hunter-gatherers and their farmer neighbours.

Modelling lifetime cost consequences of toric compared with standard IOLs in cataract surgery of astigmatic patients in four European countries.

PubMed

Laurendeau, C; Lafuma, A; Berdeaux, G

2009-09-01

To compare the lifetime costs of freeing astigmatic patients from spectacles after bilateral cataract surgery implanting toric intraocular lenses (IOLs: i.e., Acrysof Toric) versus monofocal IOLs, in France, Italy, Germany and Spain. A Markov model followed patient cohorts from cataract surgery until death. Prevalence rates of patients not needing spectacles and the types of spectacles prescribed for those requiring them were obtained from clinical trials and national surveys. The economic perspective was societal. Mortality rates were incorporated into the model. Discount rates were applied. A sensitivity analysis was performed on non-discounted costs. Fewer patients with toric IOLs needed spectacles for distance vision than patients with monofocal IOLs. With monofocal IOLs more than 66% of patients needed complex spectacles compared to less than 25% implanted with toric IOLs. In France and Italy, toric IOLs reduced overall costs relative to otherwise high spectacle costs after cataract surgery. Savings were 897.0 euros (France), 822.5 euros (Germany), 895.8 euros (Italy) and 391.6 euros (Spain), without discounting. On applying a 3% discount rate the costs became 691.7 euros, 646.4 euros, 693.9 euros and 308.2 euros, respectively. Bilateral toric IOL implants in astigmatic patients decreased spectacle dependence for distance vision and the need for complex spectacles. The economic consequences for patients depended on the national spectacle costs usually incurred after cataract surgery.

The Associations of Clinicians’ Implicit Attitudes About Race With Medical Visit Communication and Patient Ratings of Interpersonal Care

PubMed Central

Roter, Debra L.; Carson, Kathryn A.; Beach, Mary Catherine; Sabin, Janice A.; Greenwald, Anthony G.; Inui, Thomas S.

2012-01-01

Objectives. We examined the associations of clinicians’ implicit attitudes about race with visit communication and patient ratings of care. Methods. In a cross-sectional study of 40 primary care clinicians and 269 patients in urban community-based practices, we measured clinicians’ implicit general race bias and race and compliance stereotyping with 2 implicit association tests and related them to audiotape measures of visit communication and patient ratings. Results. Among Black patients, general race bias was associated with more clinician verbal dominance, lower patient positive affect, and poorer ratings of interpersonal care; race and compliance stereotyping was associated with longer visits, slower speech, less patient centeredness, and poorer ratings of interpersonal care. Among White patients, bias was associated with more verbal dominance and better ratings of interpersonal care; race and compliance stereotyping was associated with less verbal dominance, shorter visits, faster speech, more patient centeredness, higher clinician positive affect, and lower ratings of some aspects of interpersonal care. Conclusions. Clinician implicit race bias and race and compliance stereotyping are associated with markers of poor visit communication and poor ratings of care, particularly among Black patients. PMID:22420787

The hierarchical structure of self-reported impulsivity

PubMed Central

Kirby, Kris N.; Finch, Julia C.

2010-01-01

The hierarchical structure of 95 self-reported impulsivity items, along with delay-discount rates for money, was examined. A large sample of college students participated in the study (N = 407). Items represented every previously proposed dimension of self-reported impulsivity. Exploratory PCA yielded at least 7 interpretable components: Prepared/Careful, Impetuous, Divertible, Thrill and Risk Seeking, Happy-Go-Lucky, Impatiently Pleasure Seeking, and Reserved. Discount rates loaded on Impatiently Pleasure Seeking, and correlated with the impulsiveness and venturesomeness scales from the I7 (Eysenck, Pearson, Easting, & Allsopp, 1985). The hierarchical emergence of the components was explored, and we show how this hierarchical structure may help organize conflicting dimensions found in previous analyses. Finally, we argue that the discounting model (Ainslie, 1975) provides a qualitative framework for understanding the dimensions of impulsivity. PMID:20224803

Source attribution and credibility of health and appearance exercise advertisements: relationship with implicit and explicit attitudes and intentions.

PubMed

Berry, Tanya R; Shields, Chris

2014-02-01

The relationship of attributed source (commercial or nonprofit) and credibility of exercise advertisements to explicit and implicit exercise-related attitudes and intentions was examined. Male and female participants (N = 227) were randomly assigned to watch health or appearance-related advertisements and then completed an implicit attitudes task and questionnaires. Health advertisements and those attributed to a nonprofit source were rated more credible. Appearance condition participants who attributed the advertisement to a nonprofit source also rated the advertisement as more credible. Participants who rated a commercial advertisement as credible reported higher implicit instrumental attitudes. Implications for exercise promotion are discussed.

Educational attainment, time preference, and health-related behaviors: A mediation analysis from the J-SHINE survey.

PubMed

Takagi, Daisuke; Kondo, Naoki; Takada, Misato; Hashimoto, Hideki

2016-03-01

Evidence consistently shows that low education is associated with unhealthy behaviors. A recent study in behavioral economics argued that high time preferences - the tendency to prefer immediate gain to later reward - explain the limited self-control of individuals in making preventive health-related choices. The aim of this study was to examine the mediating effect of time preference on the associations between education and smoking, binge drinking and overweight in young and middle-aged adults living in a Japanese metropolitan area, using a quantitatively measured time discount rate. A population-based probabilistic sample of residents of 25-50 years of age living in four municipalities within Japanese metropolitan areas where economic disparity is relatively large was obtained from the Japanese Study on Stratification, Health, Income, and Neighborhood (J-SHINE). Respondents answered the questionnaire items using a computer-aided personal instrument (CAPI). Data from 3457 respondents were used in this study. Time preferences measured as categorical responses were converted into a continuous number of time discount rates by using the maximum likelihood method. Smoking habit, binge drinking, and body mass index were regressed on educational attainment with demographics and other confounders. The mediating effects of the time discount rate were examined with the bootstrapping method. Results showed that the time discount rate did not mediate the association between education and binge drinking and BMI. Even for smoking, the mediating effect of time discount rate was quite limited, indicating that the proportion of total effect of education mediated was only 4.3% for men and 3.0% for women. The results suggest that modifying time preferences through educational intervention has only limited efficacy in closing disparities in health-related behaviors, and that other mediators fostered by schooling, such as knowledge/skills, group norms and supportive peers/networks, may be more important as modifiable mediators in the link between education and smoking. Copyright © 2016 Elsevier Ltd. All rights reserved.

Impatience and Grades: Delay-Discount Rates Correlate Negatively with College Gpa

ERIC Educational Resources Information Center

Kirby, K.N.; Winston, G.C.; Santiesteban, M.

2005-01-01

Because the rewards of academic performance in college are often delayed, the delay-discounting model of impulsiveness (Ainslie (1975) [Ainslie, G. Specious reward: A behavioral theory of impulsiveness and impulse control. Psychological Bulletin, 82 (4), 463-496] predicts that academic performance should tend to decrease as people place less…

The Optimal Forest Rotation: A Discussion and Annotated Bibliography

Treesearch

David H. Newman

1988-01-01

The literature contains six different criteria of the optimal forest rotation: (1) maximum single-rotation physical yield, (2) maximum single-rotation annual yield, (3) maximum single-rotation discounted net revenues, (4) maximum discounted net revenues from an infinite series of rotations, (5) maximum annual net revenues, and (6) maximum internal rate of return. First...

The Association between Delay Discounting and Schizotypal Personality Characteristics in a Nonclinical Sample

ERIC Educational Resources Information Center

Weatherly, Jeffrey N.

2012-01-01

Immediacy theory of schizophrenia posits that the behavior of individuals with schizophrenia is controlled to a greater degree by stimuli in the current environment relative to individuals without schizophrenia. Prior research supports this idea by finding that individuals with schizophrenia display steeper rates of delay discounting than those…

Discounting in cost-utility analysis of healthcare interventions: reassessing current practice.

PubMed

Cohen, Brian J

2003-01-01

Cost-utility analysis (CUA) is a technique that can potentially be used as a guide to allocating healthcare resources so as to obtain the maximum health benefits possible under a given budget constraint. However, it is not clear that current practice captures societal preferences regarding health benefits. In analyses of healthcare interventions providing survival benefits, the market rate of interest is the sole empirical variable that reflects societal preferences. This approach is based on the assumptions that: (i) healthcare interventions should be ranked using cost-effectiveness (CE) ratios; (ii) the discount rate for costs in CUA should be equal to that used in cost-benefit analysis (CBA); (iii) the discount rate in CBA should be the market rate of interest on long-term government bonds; and (iv) the Keeler-Cretin paradox is applicable to CUA of healthcare interventions, so that the discount rate for benefits in CUA should be set equal to the discount rate for costs. This approach ignores a fundamental difference between CBA and CUA, namely that CUA assumes that a budget constraint has been specified prior to the analysis. It starts with the assumption that a given amount of funds have been withdrawn from the economy to fund healthcare, so there is no opportunity cost to consider. For that reason, the principles on which the choice of discount rate rests differ in the two techniques. Furthermore, use of CE ratios to rank interventions assumes that the budget constraint can be expressed as a single constraint. But healthcare budgets are multiyear budgets that are roughly constant from year to year. A more realistic model would involve multiple constraints and would require linear programming for solution. This can be reduced to a series of single constraints, thereby allowing use of the simpler CE ratio approach, if we assume that the budget being allocated is intended for one cohort at a time, i.e. all people for whom a new funding decision must be made in a given year. In general, we assume that future cohorts will be allotted comparable funding. However, the Keeler-Cretin paradox depends on the assumption that cohorts are competing with each other for resources, and is therefore not applicable to CUA of healthcare. Other approaches are therefore needed to assign utilities to healthcare interventions providing survival benefits. Methods should be developed that allow analyses to reflect a range of philosophical approaches through sensitivity analysis.

The association between individual time preferences and health maintenance habits.

PubMed

Bradford, W David

2010-01-01

Encouraging healthy behaviors, including disease screening, exercise, and tobacco avoidance, has been a significant focus of clinical attention in recent decades. Little is known about the association between individual preferences with respect to time play and preventive health care use and healthy lifestyles. To determine whether rates of these health behaviors are associated with latent time preferences. Interval regression analysis was used to impute individual level discount rates. The difference in means for the rates of health behaviors were assessed for high vs. low to moderate discounting groups using one-factor probit models. The 2004 wave of the Health and Retirement Survey included in a time preferences module (1,039 respondents aged 24 to 65 years). Rates of recent mammograms, breast exams, Pap smears, prostate exams, cholesterol testing, flu shots, and dental visits, and non-smoking status. Respondents in the upper 20th percentile of the distribution have an average imputed annual discount rate of 0.335 (33.5%). High discount rate status is found to have a negative marginal association on the probability that respondents had recent mammogram use (-15.1%; P = 0.001), Pap smear use (-8.3%; P = 0.049), prostate examination use (-20.4%; P =0.003), dental visits (-24.8%; P = 0.001), cholesterol testing (-12.4%; P = 0.001), flu shot usage (-11.1%; P = 0.005), rates of vigorous exercise (-15.1%; P = 0.001), nonsmoking status (-10.4%; P= 0.001), and undertook all measured health habits (-7%; P = 0.001). Differences in underlying preferences for the present over the future may be a substantial barrier for people's propensity to adopt healthy lifestyles.

Implicit and Explicit Associations with Erotic Stimuli in Sexually Functional and Dysfunctional Men.

PubMed

van Lankveld, Jacques; Odekerken, Ingrid; Kok-Verhoeven, Lydia; van Hooren, Susan; de Vries, Peter; van den Hout, Anja; Verboon, Peter

2015-08-01

Although conceptual models of sexual functioning have suggested a major role for implicit cognitive processing in sexual functioning, this has thus far, only been investigated in women. The aim of this study was to investigate the role of implicit cognition in sexual functioning in men. Men with (N = 29) and without sexual dysfunction (N = 31) were compared. Participants performed two single-target implicit association tests (ST-IAT), measuring the implicit association of visual erotic stimuli with attributes representing, respectively, valence ('liking') and motivation ('wanting'). Participants also rated the erotic pictures that were shown in the ST-IAT on the dimensions of valence, attractiveness, and sexual excitement to assess their explicit associations with these erotic stimuli. Participants completed the International Index of Erectile Functioning for a continuous measure of sexual functioning. Unexpectedly, compared with sexually functional men, sexually dysfunctional men were found to show stronger implicit associations of erotic stimuli with positive valence than with negative valence. Level of sexual functioning, however, was not predicted by explicit nor implicit associations. Level of sexual distress was predicted by explicit valence ratings, with positive ratings predicting higher levels of sexual distress. Men with and without sexual dysfunction differed significantly with regard to implicit liking. Research recommendations and implications are discussed. © 2015 International Society for Sexual Medicine.

The choice of discount brand cigarettes: A comparative analysis of International Tobacco Control (ITC) Surveys in Canada and the United States (2002–2005)

PubMed Central

Nargis, Nigar; Fong, Geoffrey T.; Chaloupka, Frank J.; Li, Qiang

2014-01-01

Background Increasing tobacco taxes to increase price is a proven tobacco control measure. This paper investigates how smokers respond to tax and price increases in their choice of discount brand cigarettes vs. premium brands. Objective To estimate how increase in the tax rate can affect smokers’ choice of discount brands versus premium brands. Methods Using data from ITC Surveys in Canada and the United States, a logit model was constructed to estimate the probability of choosing discount brand cigarettes in response to its price changes relative to premium brands, controlling for individual-specific demographic and socio-economic characteristics and regional effects. The self-reported price of an individual smoker is used in a random-effects regression model to impute price and to construct the price ratio for discount and premium brands for each smoker, which is used in the logit model. Findings An increase in the ratio of price of discount brand cigarettes to the price of premium brands by 0.1 is associated with a decrease in the probability of choosing discount brands by 0.08 in Canada. No significant effect is observed in case of the United States. Conclusion The results of the model explain two phenomena: (1) the widened price differential between premium and discount brand cigarettes contributed to the increased share of discount brand cigarettes in Canada in contrast to a relatively steady share in the United States during 2002–2005, and (2) increasing the price ratio of discount brands to premium brands—which occurs with an increase in specific excise tax—may lead to upward shifting from discount to premium brands rather than to downward shifting. These results underscore the significance of studying the effectiveness of tax increases in reducing overall tobacco consumption, particularly for specific excise taxes. PMID:23986408

Individual differences in discount rate are associated with demand for self-administered cocaine, but not sucrose.

PubMed

Koffarnus, Mikhail N; Woods, James H

2013-01-01

Substance abusers, including cocaine abusers, discount delayed rewards to a greater extent than do matched controls. In the current experiment, individual differences in discounting of delayed rewards in rats (choice of one immediate over three delayed sucrose pellets) were assessed for associations with demand for either sucrose pellets or an intravenous dose of 0.1 mg/kg/infusion cocaine. Twenty-four male Sprague Dawley rats were split into three groups based on sensitivity to delay to reinforcement. Then, demand for sucrose pellets and cocaine was determined across a range of fixed-ratio values. Delay discounting was then reassessed to determine the stability of this measure over the course of the experiment. Individual differences in impulsive choice were positively associated with elasticity of demand for cocaine, a measure of reinforcer value, indicating that rats having higher discount rates also valued cocaine more. Impulsive choice was not associated with the level of cocaine consumption as price approached 0 or with any parameter associated with demand for sucrose. Individual sensitivity to delay was correlated with the initial assessment when reassessed at the end of the experiment, although impulsive choice increased for this cohort of rats as a whole. These findings suggest that impulsive choice in rats is positively associated with valuation of cocaine, but not sucrose. © 2011 The Authors, Addiction Biology © 2011 Society for the Study of Addiction.

The Effects of Oncologist Implicit Racial Bias in Racially Discordant Oncology Interactions

PubMed Central

Dovidio, John F.; Gonzalez, Richard; Albrecht, Terrance L.; Chapman, Robert; Foster, Tanina; Harper, Felicity W.K.; Hagiwara, Nao; Hamel, Lauren M.; Shields, Anthony F.; Gadgeel, Shirish; Simon, Michael S.; Griggs, Jennifer J.; Eggly, Susan

2016-01-01

Purpose Health providers’ implicit racial bias negatively affects communication and patient reactions to many medical interactions. However, its effects on racially discordant oncology interactions are largely unknown. Thus, we examined whether oncologist implicit racial bias has similar effects in oncology interactions. We further investigated whether oncologist implicit bias negatively affects patients’ perceptions of recommended treatments (i.e., degree of confidence, expected difficulty). We predicted oncologist implicit bias would negatively affect communication, patient reactions to interactions, and, indirectly, patient perceptions of recommended treatments. Methods Participants were 18 non-black medical oncologists and 112 black patients. Oncologists completed an implicit racial bias measure several weeks before video-recorded treatment discussions with new patients. Observers rated oncologist communication and recorded interaction length of time and amount of time oncologists and patients spoke. Following interactions, patients answered questions about oncologists’ patient-centeredness and difficulty remembering contents of the interaction, distress, trust, and treatment perceptions. Results As predicted, oncologists higher in implicit racial bias had shorter interactions, and patients and observers rated these oncologists’ communication as less patient-centered and supportive. Higher implicit bias also was associated with more patient difficulty remembering contents of the interaction. In addition, oncologist implicit bias indirectly predicted less patient confidence in recommended treatments, and greater perceived difficulty completing them, through its impact on oncologists’ communication (as rated by both patients and observers). Conclusion Oncologist implicit racial bias is negatively associated with oncologist communication, patients’ reactions to racially discordant oncology interactions, and patient perceptions of recommended treatments. These perceptions could subsequently directly affect patient-treatment decisions. Thus, implicit racial bias is a likely source of racial treatment disparities and must be addressed in oncology training and practice. PMID:27325865

The Effects of Oncologist Implicit Racial Bias in Racially Discordant Oncology Interactions.

PubMed

Penner, Louis A; Dovidio, John F; Gonzalez, Richard; Albrecht, Terrance L; Chapman, Robert; Foster, Tanina; Harper, Felicity W K; Hagiwara, Nao; Hamel, Lauren M; Shields, Anthony F; Gadgeel, Shirish; Simon, Michael S; Griggs, Jennifer J; Eggly, Susan

2016-08-20

Health providers' implicit racial bias negatively affects communication and patient reactions to many medical interactions. However, its effects on racially discordant oncology interactions are largely unknown. Thus, we examined whether oncologist implicit racial bias has similar effects in oncology interactions. We further investigated whether oncologist implicit bias negatively affects patients' perceptions of recommended treatments (i.e., degree of confidence, expected difficulty). We predicted oncologist implicit bias would negatively affect communication, patient reactions to interactions, and, indirectly, patient perceptions of recommended treatments. Participants were 18 non-black medical oncologists and 112 black patients. Oncologists completed an implicit racial bias measure several weeks before video-recorded treatment discussions with new patients. Observers rated oncologist communication and recorded interaction length of time and amount of time oncologists and patients spoke. Following interactions, patients answered questions about oncologists' patient-centeredness and difficulty remembering contents of the interaction, distress, trust, and treatment perceptions. As predicted, oncologists higher in implicit racial bias had shorter interactions, and patients and observers rated these oncologists' communication as less patient-centered and supportive. Higher implicit bias also was associated with more patient difficulty remembering contents of the interaction. In addition, oncologist implicit bias indirectly predicted less patient confidence in recommended treatments, and greater perceived difficulty completing them, through its impact on oncologists' communication (as rated by both patients and observers). Oncologist implicit racial bias is negatively associated with oncologist communication, patients' reactions to racially discordant oncology interactions, and patient perceptions of recommended treatments. These perceptions could subsequently directly affect patient-treatment decisions. Thus, implicit racial bias is a likely source of racial treatment disparities and must be addressed in oncology training and practice. © 2016 by American Society of Clinical Oncology.

Sweet sixteen: changing time preferences in the transition from middle school to high school, for different scenarios.

PubMed

Lahav, Eyal; Shavit, Tal; Benzion, Uri

2015-01-01

Teenagers earn, save and spend large amounts of money. Therefore, understanding teenagers' time preference and how it affects their economic behavior is very important. The current study investigates time preferences of high school and middle school students, and the effect of different intertemporal choice scenarios on teenagers' subjective discount rate. One scenario used a standard intertemporal choice question while the other was a wage scenario. We found higher future orientation (lower subjective discount rate) among high school students than among middle school students when using a standard scenario but found no difference between groups in the wage scenario. For both groups, we found the subjective discount rates increased when the teenagers are asked to delay receipt of wages they earned by working (wage scenario). Other variables, like participation in sports and an allowance given by parents, were found to affect teenagers' time preferences. © Society for the Experimental Analysis of Behavior.

Differences in Risk Aversion between Young and Older Adults.

PubMed

Albert, Steven M; Duffy, John

2012-01-15

Research on decision-making strategies among younger and older adults suggests that older adults may be more risk averse than younger people in the case of potential losses. These results mostly come from experimental studies involving gambling paradigms. Since these paradigms involve substantial demands on memory and learning, differences in risk aversion or other features of decision-making attributed to age may in fact reflect age-related declines in cognitive abilities. In the current study, older and younger adults completed a simpler, paired lottery choice task used in the experimental economics literature to elicit risk aversion. A similar approach was used to elicit participants' discount rates. The older adult group was more risk averse than younger adults (p < .05) and also had a higher discount rate (15.6-21.0% vs. 10.3-15.5%, p < .01), indicating lower expected utility from future income. Risk aversion and implied discount rates were weakly correlated. It may be valuable to investigate developmental changes in neural correlates of decision-making across the lifespan.

Differences in Risk Aversion between Young and Older Adults

PubMed Central

Albert, Steven M.; Duffy, John

2013-01-01

Research on decision-making strategies among younger and older adults suggests that older adults may be more risk averse than younger people in the case of potential losses. These results mostly come from experimental studies involving gambling paradigms. Since these paradigms involve substantial demands on memory and learning, differences in risk aversion or other features of decision-making attributed to age may in fact reflect age-related declines in cognitive abilities. In the current study, older and younger adults completed a simpler, paired lottery choice task used in the experimental economics literature to elicit risk aversion. A similar approach was used to elicit participants' discount rates. The older adult group was more risk averse than younger adults (p < .05) and also had a higher discount rate (15.6-21.0% vs. 10.3-15.5%, p < .01), indicating lower expected utility from future income. Risk aversion and implied discount rates were weakly correlated. It may be valuable to investigate developmental changes in neural correlates of decision-making across the lifespan. PMID:24319671

Time discounting and time preference in animals: A critical review.

PubMed

Hayden, Benjamin Y

2016-02-01

Animals are an important model for studies of impulsivity and self-control. Many studies have made use of the intertemporal choice task, which pits small rewards available sooner against larger rewards available later (typically several seconds), repeated over many trials. Preference for the sooner reward is often taken to indicate impulsivity and/or a failure of self-control. This review shows that very little evidence supports this assumption; on the contrary, ostensible discounting behavior may reflect a boundedly rational but not necessarily impulsive reward-maximizing strategy. Specifically, animals may discount weakly, or even adopt a long-term rate-maximizing strategy, but fail to fully incorporate postreward delays into their choices. This failure may reflect learning biases. Consequently, tasks that measure animal discounting may greatly overestimate the true discounting and may be confounded by processes unrelated to time preferences. If so, animals may be much more patient than is widely believed; human and animal intertemporal choices may reflect unrelated mental operations; and the shared hyperbolic shape of the human and animal discount curves, which is used to justify cross-species comparisons, may be coincidental. The discussion concludes with a consideration of alternative ways to measure self-control in animals.

Effects of mindful eating training on delay and probability discounting for food and money in obese and healthy-weight individuals.

PubMed

Hendrickson, Kelsie L; Rasmussen, Erin B

2013-07-01

Obese individuals tend to behave more impulsively than healthy weight individuals across a variety of measures, but it is unclear whether this pattern can be altered. The present study examined the effects of a mindful eating behavioral strategy on impulsive and risky choice patterns for hypothetical food and money. In Experiment 1, 304 participants completed computerized delay and probability discounting tasks for food-related and monetary outcomes. High percent body fat (PBF) predicted more impulsive choice for food, but not small-value money, replicating previous work. In Experiment 2, 102 randomly selected participants from Experiment 1 were assigned to participate in a 50-min workshop on mindful eating or to watch an educational video. They then completed the discounting tasks again. Participants who completed the mindful eating session showed more self-controlled and less risk-averse discounting patterns for food compared to baseline; those in the control condition discounted similarly to baseline rates. There were no changes in discounting for money for either group, suggesting stimulus specificity for food for the mindful eating condition. Copyright © 2013 Elsevier Ltd. All rights reserved.

75 FR 29933 - Energy Efficiency and Sustainable Design Standards for New Federal Buildings

Federal Register 2010, 2011, 2012, 2013, 2014

2010-05-28

... guidance, discount rates, and energy price projections are determined annually by FEMP and the Energy... Technology Handbook 135: ``Energy Price Indices and Discount Factors for Life-Cycle Cost Analysis.'' FEMP... DEPARTMENT OF ENERGY 10 CFR Parts 433 and 435 [Docket No. EE-RM/STD-02-112] RIN 1904-AC13 Energy...

Comparing Apples and Oranges: Does Cost-Effectiveness Analysis Deal Fairly with the Old and Young?

ERIC Educational Resources Information Center

Welch, H. Gilbert

1991-01-01

Considers role patient age plays in cost-effectiveness analysis. Quantifies magnitude of age bias and describes means to modify it. Present value analysis (discounting) is demonstrated to markedly attenuate effect of patient age on cost-effectiveness analysis. Explains how, as discount rate grows, difference in potential "life-years" between old…

Tuition Discounting: Institutional Aid Patterns at Public and Private Colleges and Universities. Trends in Higher Education Series

ERIC Educational Resources Information Center

Baum, Sandy; Ma, Jennifer

2010-01-01

Recent data from the College Board's Annual Survey of Colleges reveal significant variation in institutional aid patterns among colleges and universities. The undergraduate tuition discount rate--the ratio of institutional grant aid to published tuition and fee charges--is higher at private institutions than at public institutions, but there are…

Shaping Aid Policy for Increasing Revenue: Examining Admission Status, Unmet Need, and Demographic Characteristics as Persistence Predictors

ERIC Educational Resources Information Center

Sheren, Deborah L.

2018-01-01

Increasing costs and discount rates and decreasing persistence have led to deteriorating net tuition revenue at many colleges and universities. The lack of clarity about the relationship between student persistence and incoming student characteristics was interfering with the development of optimal tuition discounting policy and required research.…

Long-term cost-effectiveness of disease management in systolic heart failure.

PubMed

Miller, George; Randolph, Stephen; Forkner, Emma; Smith, Brad; Galbreath, Autumn Dawn

2009-01-01

Although congestive heart failure (CHF) is a primary target for disease management programs, previous studies have generated mixed results regarding the effectiveness and cost savings of disease management when applied to CHF. We estimated the long-term impact of systolic heart failure disease management from the results of an 18-month clinical trial. We used data generated from the trial (starting population distributions, resource utilization, mortality rates, and transition probabilities) in a Markov model to project results of continuing the disease management program for the patients' lifetimes. Outputs included distribution of illness severity, mortality, resource consumption, and the cost of resources consumed. Both cost and effectiveness were discounted at a rate of 3% per year. Cost-effectiveness was computed as cost per quality-adjusted life year (QALY) gained. Model results were validated against trial data and indicated that, over their lifetimes, patients experienced a lifespan extension of 51 days. Combined discounted lifetime program and medical costs were $4850 higher in the disease management group than the control group, but the program had a favorable long-term discounted cost-effectiveness of $43,650/QALY. These results are robust to assumptions regarding mortality rates, the impact of aging on the cost of care, the discount rate, utility values, and the targeted population. Estimation of the clinical benefits and financial burden of disease management can be enhanced by model-based analyses to project costs and effectiveness. Our results suggest that disease management of heart failure patients can be cost-effective over the long term.

The value-based medicine comparative effectiveness and cost-effectiveness of penetrating keratoplasty for keratoconus.

PubMed

Roe, Richard H; Lass, Jonathan H; Brown, Gary C; Brown, Melissa M

2008-10-01

To perform a base case, comparative effectiveness, and cost-effectiveness (cost-utility) analysis of penetrating keratoplasty for patients with severe keratoconus. Visual acuity data were obtained from a large, retrospective multicenter study in which patients with keratoconus with less than 20/40 best corrected visual acuity and/or the inability to wear contact lenses underwent penetrating keratoplasty, with an average follow-up of 2.1 years. The results were combined with other retrospective studies investigating complication rates of penetrating keratoplasty. The data were then incorporated into a cost-utility model using patient preference-based, time trade-off utilities, computer-based decision analysis, and a net present value model to account for the time value of outcomes and money. The comparative effectiveness of the intervention is expressed in quality-of-life gain and QALYs (quality-adjusted life-years), and the cost-effectiveness results are expressed in the outcome of $/QALY (dollars spent per QALY). Penetrating keratoplasty in 1 eye for patients with severe keratoconus results in a comparative effectiveness (value gain) of 16.5% improvement in quality of life every day over the 44-year life expectancy of the average patient with severe keratoconus. Discounting the total value gain of 5.36 QALYs at a 3% annual discount rate yields 3.05 QALYs gained. The incremental cost for penetrating keratoplasty, including all complications, is $5934 ($5913 discounted at 3% per year). Thus, the incremental cost-utility (discounted at 3% annually) for this intervention is $5913/3.05 QALYs = $1942/QALY. If both eyes undergo corneal transplant, the total discounted value gain is 30% and the overall cost-utility is $2003. Surgery on the second eye confers a total discounted value gain of 2.5 QALYs, yielding a quality-of-life gain of 11.6% and a discounted cost-utility of $2238/QALY. Penetrating keratoplasty for patients with severe keratoconus seems to be a comparatively effective and cost-effective procedure when compared with other interventions across different medical specialties.

Fuel Cost Estimation for Sumatra Grid System

NASA Astrophysics Data System (ADS)

Liun, Edwaren

2010-06-01

Sumatra has a high growth rate electricity energy demand from the first decade in this century. At the medium of this decade the growth is 11% per annum. On the other side capability of Government of Indonesia cq. PLN authority is limited, while many and most old existing power plants will be retired. The electricity demand growth of Sumatra is increasing the fuel consumption for several next decades. Based on several cases by vary growth scenarios and economic parameters, it shown that some kinds of fossil fuel keep to be required until next several decades. Although Sumatra has abundant coal resource, however, the other fuel types such as fuel oil, diesel, gas and nuclear are needed. On the Base Scenario and discount rate of 10%, the Sumatra System will require 11.6 million tones of coal until 2030 producing 866 TWh with cost of US10558 million. Nuclear plants produce about 501 TWh or 32% by cost of US3.1 billion. On the High Scenario and discount rate 10%, the coal consumption becomes 486.6 million tones by fuel cost of US12.7 billion producing 1033 TWh electricity energy. Nuclear fuel cost required in this scenario is US7.06 billion. The other fuel in large amount consumed is natural gas for combined cycle plants by cost of US1.38 billion producing 11.7 TWh of electricity energy on the Base Scenario and discount rate of 10%. In the High Scenario and discount rate 10% coal plants take role in power generation in Sumatra producing about 866 TWh or 54% of electricity energy. Coal consumption will be the highest on the Base Scenario with discount rate of 12% producing 756 TWh and required cost of US17.1 billion. Nuclear plants will not applicable in this scenario due to its un-competitiveness. The fuel cost will depend on nuclear power role in Sumatra system. Fuel cost will increase correspond to the increasing of coal consumption on the case where nuclear power plants not appear.

The amount effect and marginal value.

PubMed

Rachlin, Howard; Arfer, Kodi B; Safin, Vasiliy; Yen, Ming

2015-07-01

The amount effect of delay discounting (by which the value of larger reward amounts is discounted by delay at a lower rate than that of smaller amounts) strictly implies that value functions (value as a function of amount) are steeper at greater delays than they are at lesser delays. That is, the amount effect and the difference in value functions at different delays are actually a single empirical finding. Amount effects of delay discounting are typically found with choice experiments. Value functions for immediate rewards have been empirically obtained by direct judgment. (Value functions for delayed rewards have not been previously obtained.) The present experiment obtained value functions for both immediate and delayed rewards by direct judgment and found them to be steeper when the rewards were delayed--hence, finding an amount effect with delay discounting. © Society for the Experimental Analysis of Behavior.

Shallow discounting of delayed cocaine by male rhesus monkeys when immediate food is the choice alternative.

PubMed

Huskinson, Sally L; Myerson, Joel; Green, Leonard; Rowlett, James K; Woolverton, William L; Freeman, Kevin B

2016-12-01

Huskinson et al. (2015) recently examined delay discounting in monkeys choosing between an immediate drug (cocaine) reinforcer and a delayed nondrug (food) reinforcer. The present experiment examined the reverse situation: choice between immediate nondrug (food) and delayed drug (cocaine) reinforcers. Whereas the former choice situation exemplifies drug abuse from a delay-discounting perspective, our interest in the latter choice situation is derived from the observation that drug abusers, who characteristically are associated with impulsive choice, typically must devote considerable time to procuring drugs, often at the expense of immediate nondrug alternatives. Accordingly, we analyzed 3 male rhesus monkeys' choices between immediate food and delayed cocaine (0.1 and 0.2 mg/kg/injection) using a hyperbolic model that allowed us to compare discounting rates between qualitatively different reinforcers. Choice of immediate food increased with food amount, and choice functions generally shifted leftward as delay to cocaine increased, indicating a decrease in the subjective value of cocaine. Compared with our previous delay-discounting experiment with immediate cocaine versus delayed food, both doses of delayed cocaine were discounted at a shallow rate. The present results demonstrate that rhesus monkeys will tolerate relatively long delays in an immediate-food versus delayed-drug situation, suggesting that in intertemporal choices between cocaine and food, the subjective value of cocaine is less affected by the delay until reinforcement than is the subjective value of delayed food. More generally, the present findings suggest that although drug abusers may choose impulsively when immediate drug reinforcement is available, they exercise self-control in the acquisition of a highly preferred, delayed drug reinforcer. (PsycINFO Database Record (c) 2016 APA, all rights reserved).

Isolating Visual and Proprioceptive Components of Motor Sequence Learning in ASD.

PubMed

Sharer, Elizabeth A; Mostofsky, Stewart H; Pascual-Leone, Alvaro; Oberman, Lindsay M

2016-05-01

In addition to defining impairments in social communication skills, individuals with autism spectrum disorder (ASD) also show impairments in more basic sensory and motor skills. Development of new skills involves integrating information from multiple sensory modalities. This input is then used to form internal models of action that can be accessed when both performing skilled movements, as well as understanding those actions performed by others. Learning skilled gestures is particularly reliant on integration of visual and proprioceptive input. We used a modified serial reaction time task (SRTT) to decompose proprioceptive and visual components and examine whether patterns of implicit motor skill learning differ in ASD participants as compared with healthy controls. While both groups learned the implicit motor sequence during training, healthy controls showed robust generalization whereas ASD participants demonstrated little generalization when visual input was constant. In contrast, no group differences in generalization were observed when proprioceptive input was constant, with both groups showing limited degrees of generalization. The findings suggest, when learning a motor sequence, individuals with ASD tend to rely less on visual feedback than do healthy controls. Visuomotor representations are considered to underlie imitative learning and action understanding and are thereby crucial to social skill and cognitive development. Thus, anomalous patterns of implicit motor learning, with a tendency to discount visual feedback, may be an important contributor in core social communication deficits that characterize ASD. Autism Res 2016, 9: 563-569. © 2015 International Society for Autism Research, Wiley Periodicals, Inc. © 2015 International Society for Autism Research, Wiley Periodicals, Inc.

Buy now, saved later? The critical impact of time-to-pandemic uncertainty on pandemic cost-effectiveness analyses.

PubMed

Drake, Tom; Chalabi, Zaid; Coker, Richard

2015-02-01

Investment in pandemic preparedness is a long-term gamble, with the return on investment coming at an unknown point in the future. Many countries have chosen to stockpile key resources, and the number of pandemic economic evaluations has risen sharply since 2009. We assess the importance of uncertainty in time-to-pandemic (and associated discounting) in pandemic economic evaluation, a factor frequently neglected in the literature to-date. We use a probability tree model and Monte Carlo parameter sampling to consider the cost effectiveness of antiviral stockpiling in Cambodia under parameter uncertainty. Mean elasticity and mutual information (MI) are used to assess the importance of time-to-pandemic compared with other parameters. We also consider the sensitivity to choice of sampling distribution used to model time-to-pandemic uncertainty. Time-to-pandemic and discount rate are the primary drivers of sensitivity and uncertainty in pandemic cost effectiveness models. Base case cost effectiveness of antiviral stockpiling ranged between is US$112 and US$3599 per DALY averted using historical pandemic intervals for time-to-pandemic. The mean elasticities for time-to-pandemic and discount rate were greater than all other parameters. Similarly, the MI scores for time to pandemic and discount rate were greater than other parameters. Time-to-pandemic and discount rate were key drivers of uncertainty in cost-effectiveness results regardless of time-to-pandemic sampling distribution choice. Time-to-pandemic assumptions can "substantially" affect cost-effectiveness results and, in our model, is a greater contributor to uncertainty in cost-effectiveness results than any other parameter. We strongly recommend that cost-effectiveness models include probabilistic analysis of time-to-pandemic uncertainty. Published by Oxford University Press in association with The London School of Hygiene and Tropical Medicine © The Author 2013; all rights reserved.

Animal spirits, competitive markets, and endogenous growth

NASA Astrophysics Data System (ADS)

Miyazaki, Kenji

2013-10-01

This paper uses a simple model with an endogenous discount rate and linear technology to investigate whether a competitive equilibrium has a higher balanced growth path (BGP) than the social planning solution and whether the BGP is determinate or indeterminate. The implications are as follows. To start with, people with an instinct to compare themselves with others possess an endogenous discount rate. In turn, this instinct affects the economic growth rate in a competitive market economy. The competitive market economy also sometimes achieves higher economic growth than a social planning economy. However, the outcomes of market economy occasionally fluctuate because of the presence of the self-fulfilling prophecy or animal spirits.

Implicit and Explicit Associations with Erotic Stimuli in Women with and Without Sexual Problems.

PubMed

van Lankveld, Jacques J D M; Bandell, Myrthe; Bastin-Hurek, Eva; van Beurden, Myra; Araz, Suzan

2018-02-20

Conceptual models of sexual functioning have suggested a major role for implicit cognitive processing in sexual functioning. The present study aimed to investigate implicit and explicit cognition in sexual functioning in women. Gynecological patients with (N = 38) and without self-reported sexual problems (N = 41) were compared. Participants performed two Single-Target Implicit Association Tests (ST-IAT), measuring the implicit association of visual erotic stimuli with attributes representing, respectively, valence and motivation. Participants also rated the erotic pictures that were shown in the ST-IATs on the dimensions of valence, attractiveness, and sexual excitement, to assess their explicit associations with these erotic stimuli. Participants completed the Female Sexual Functioning Index and the Female Sexual Distress Scale for continuous measures of sexual functioning, and the Hospital Anxiety and Depression Scale to assess depressive symptoms. Compared to nonsymptomatic women, women with sexual problems were found to show more negative implicit associations of erotic stimuli with wanting (implicit sexual motivation). Across both groups, stronger implicit associations of erotic stimuli with wanting predicted higher level of sexual functioning. More positive explicit ratings of erotic stimuli predicted lower level of sexual distress across both groups.

Using the IPEDS Peer Analysis System to Compare Tuition Discount Rates

ERIC Educational Resources Information Center

Duggan, Michael; Mathews, Rebecca

2005-01-01

Tuition discounting began in the 1970s as the practice of using university funds to augment federal, state, and private aid and scholarships. When the 1980s saw a decrease in the number of high school seniors, universities began to compete in the arena of price for the first time, sparking what has been called an "arms race" of tuition discounting…

A study of the cost-effective markets for new technology agricultural aircraft

NASA Technical Reports Server (NTRS)

Hazelrigg, G. A., Jr.; Clyne, F.

1979-01-01

A previously developed data base was used to estimate the regional and total U.S. cost-effective markets for a new technology agricultural aircraft as incorporating features which could result from NASA-sponsored aerial applications research. The results show that the long-term market penetration of a new technology aircraft would be near 3,000 aircraft. This market penetration would be attained in approximately 20 years. Annual sales would be about 200 aircraft after 5 to 6 years of introduction. The net present value of cost savings benefit which this aircraft would yield (measured on an infinite horizon basis) would be about $35 million counted at a 10 percent discount rate and $120 million at a 5 percent discount rate. At both discount rates the present value of cost savings exceeds the present value of research and development (R&D) costs estimated for the development of the technology base needed for the proposed aircraft. These results are quite conservative as they have been derived neglecting future growth in the agricultural aviation industry, which has been averaging about 12 percent per year over the past several years.

Role of ionotropic glutamate receptors in delay and probability discounting in the rat.

PubMed

Yates, Justin R; Batten, Seth R; Bardo, Michael T; Beckmann, Joshua S

2015-04-01

Discounting of delayed and probabilistic reinforcement is linked to increased drug use and pathological gambling. Understanding the neurobiology of discounting is important for designing treatments for these disorders. Glutamate is considered to be involved in addiction-like behaviors; however, the role of ionotropic glutamate receptors (iGluRs) in discounting remains unclear. The current study examined the effects of N-methyl-D-aspartate (NMDA) and α-amino-3-hydroxy-5-methyl-4-isoxazolepropionic acid (AMPA) glutamate receptor blockade on performance in delay and probability discounting tasks. Following training in either delay or probability discounting, rats (n = 12, each task) received pretreatments of the NMDA receptor antagonists MK-801 (0, 0.01, 0.03, 0.1, or 0.3 mg/kg, s.c.) or ketamine (0, 1.0, 5.0, or 10.0 mg/kg, i.p.), as well as the AMPA receptor antagonist CNQX (0, 1.0, 3.0, or 5.6 mg/kg, i.p.). Hyperbolic discounting functions were used to estimate sensitivity to delayed/probabilistic reinforcement and sensitivity to reinforcer amount. An intermediate dose of MK-801 (0.03 mg/kg) decreased sensitivity to both delayed and probabilistic reinforcement. In contrast, ketamine did not affect the rate of discounting in either task but decreased sensitivity to reinforcer amount. CNQX did not alter sensitivity to reinforcer amount or delayed/probabilistic reinforcement. These results show that blockade of NMDA receptors, but not AMPA receptors, decreases sensitivity to delayed/probabilistic reinforcement (MK-801) and sensitivity to reinforcer amount (ketamine). The differential effects of MK-801 and ketamine demonstrate that sensitivities to delayed/probabilistic reinforcement and reinforcer amount are pharmacologically dissociable.

Test-retest reliability and gender differences in the sexual discounting task among cocaine-dependent individuals.

PubMed

Johnson, Matthew W; Bruner, Natalie R

2013-08-01

The Sexual Discounting Task uses the delay discounting framework to examine sexual HIV risk behavior. Previous research showed task performance to be significantly correlated with self-reported HIV risk behavior in cocaine dependence. Test-retest reliability and gender differences had remained unexamined. The present study examined the test-retest reliability of the Sexual Discounting Task. Cocaine-dependent individuals (18 men, 13 women) completed the task in two laboratory visits ∼7 days apart. Participants selected photographs of individuals with whom they were willing to have casual sex. Among these, participants identified the individual most (and least) likely to have a sexually transmitted infection (STI), and the individual with whom he or she most (and least) wanted to have sex. In reference to these individuals, participants rated their likelihood of having unprotected sex versus waiting to have sex with a condom, at various delays. A money delay discounting task was also completed at the first visit. Significant differences in discounting among partner conditions were shown. Differential stability was demonstrated by significant, positive correlations between test and retest for all four partner conditions. Absolute stability was demonstrated by statistical equivalence tests between test and retest, and also supported by a lack of significant differences between test and retest. Men generally discounted significantly more than women for sexual outcomes but not money. Results suggest the Sexual Discounting Task to be a reliable measure in cocaine-dependent individuals, which supports its use as a repeated measure in clinical research, for example, studies examining acute drug effects on sexual risk and the effects of addiction treatment and HIV prevention interventions on sexual risk. PsycINFO Database Record (c) 2013 APA, all rights reserved

Sight and sound persistently out of synch: stable individual differences in audiovisual synchronisation revealed by implicit measures of lip-voice integration

PubMed Central

Ipser, Alberta; Agolli, Vlera; Bajraktari, Anisa; Al-Alawi, Fatimah; Djaafara, Nurfitriani; Freeman, Elliot D.

2017-01-01

Are sight and sound out of synch? Signs that they are have been dismissed for over two centuries as an artefact of attentional and response bias, to which traditional subjective methods are prone. To avoid such biases, we measured performance on objective tasks that depend implicitly on achieving good lip-synch. We measured the McGurk effect (in which incongruent lip-voice pairs evoke illusory phonemes), and also identification of degraded speech, while manipulating audiovisual asynchrony. Peak performance was found at an average auditory lag of ~100 ms, but this varied widely between individuals. Participants’ individual optimal asynchronies showed trait-like stability when the same task was re-tested one week later, but measures based on different tasks did not correlate. This discounts the possible influence of common biasing factors, suggesting instead that our different tasks probe different brain networks, each subject to their own intrinsic auditory and visual processing latencies. Our findings call for renewed interest in the biological causes and cognitive consequences of individual sensory asynchronies, leading potentially to fresh insights into the neural representation of sensory timing. A concrete implication is that speech comprehension might be enhanced, by first measuring each individual’s optimal asynchrony and then applying a compensatory auditory delay. PMID:28429784

Operating characteristics of the implicit learning system supporting serial interception sequence learning.

PubMed

Sanchez, Daniel J; Reber, Paul J

2012-04-01

The memory system that supports implicit perceptual-motor sequence learning relies on brain regions that operate separately from the explicit, medial temporal lobe memory system. The implicit learning system therefore likely has distinct operating characteristics and information processing constraints. To attempt to identify the limits of the implicit sequence learning mechanism, participants performed the serial interception sequence learning (SISL) task with covertly embedded repeating sequences that were much longer than most previous studies: ranging from 30 to 60 (Experiment 1) and 60 to 90 (Experiment 2) items in length. Robust sequence-specific learning was observed for sequences up to 80 items in length, extending the known capacity of implicit sequence learning. In Experiment 3, 12-item repeating sequences were embedded among increasing amounts of irrelevant nonrepeating sequences (from 20 to 80% of training trials). Despite high levels of irrelevant trials, learning occurred across conditions. A comparison of learning rates across all three experiments found a surprising degree of constancy in the rate of learning regardless of sequence length or embedded noise. Sequence learning appears to be constant with the logarithm of the number of sequence repetitions practiced during training. The consistency in learning rate across experiments and conditions implies that the mechanisms supporting implicit sequence learning are not capacity-constrained by very long sequences nor adversely affected by high rates of irrelevant sequences during training.

Can you refuse these discounts? An evaluation of the use and price discount impact of price-related promotions among US adult smokers by cigarette manufacturers

PubMed Central

Caraballo, Ralph S; Wang, Xu; Xu, Xin

2014-01-01

Objectives The raising unit price of cigarette has been shown to be one of the most effective ways of reducing cigarette consumption and increasing rates of successful quitting. However, researchers have shown that price-sensitive smokers have used a variety of strategies to mitigate the effect of the rising price of cigarettes on their smoking habits. In particular, 23–34% of adult smokers in the US use cheaper brands, and 18–55% use coupons or promotions. Little is known about the discount use by type of brands. As such, the main purpose of this analysis is to evaluate the uses and price discount effects of these price-related discounts by manufacturers and major brands. Setting An analysis based on the cross-sectional 2009–2010 National Adult Tobacco Survey (NATS). Participants 11 766 current smokers aged 18 or above in the USA. Primary outcome measures Price-related discount was defined as smokers who used coupons, rebates, buy-one-get-one-free, two-for-one or any other special promotions for their last cigarettes purchase. Results The use of price-related discounts and associated price impact vary widely by cigarette manufacturer and brand. Approximately one of three Camel, one of four Marlboro and one of eight Newport smokers used price-related discounts on their latest cigarette purchases. The average price reductions of discounts offered by Philip Morris (PM) or R.J. Reynolds (RJR) were around 29 cents per pack while that of Lorillard (Newport only) was 24 cents per pack. Cigarette brands that provided significant per pack price reductions include: PM Marlboro (28 cents), RJR brand Camel (41 cents), Doral (50 cents), Kool (73 cents) and Salem (80 cents), and Lorillard Newport (24 cents). Conclusions Policies that decrease price-minimisation strategies will benefit public health. PMID:24898086

Can you refuse these discounts? An evaluation of the use and price discount impact of price-related promotions among US adult smokers by cigarette manufacturers.

PubMed

Caraballo, Ralph S; Wang, Xu; Xu, Xin

2014-06-04

The raising unit price of cigarette has been shown to be one of the most effective ways of reducing cigarette consumption and increasing rates of successful quitting. However, researchers have shown that price-sensitive smokers have used a variety of strategies to mitigate the effect of the rising price of cigarettes on their smoking habits. In particular, 23-34% of adult smokers in the US use cheaper brands, and 18-55% use coupons or promotions. Little is known about the discount use by type of brands. As such, the main purpose of this analysis is to evaluate the uses and price discount effects of these price-related discounts by manufacturers and major brands. An analysis based on the cross-sectional 2009-2010 National Adult Tobacco Survey (NATS). 11 766 current smokers aged 18 or above in the USA. Price-related discount was defined as smokers who used coupons, rebates, buy-one-get-one-free, two-for-one or any other special promotions for their last cigarettes purchase. The use of price-related discounts and associated price impact vary widely by cigarette manufacturer and brand. Approximately one of three Camel, one of four Marlboro and one of eight Newport smokers used price-related discounts on their latest cigarette purchases. The average price reductions of discounts offered by Philip Morris (PM) or R.J. Reynolds (RJR) were around 29 cents per pack while that of Lorillard (Newport only) was 24 cents per pack. Cigarette brands that provided significant per pack price reductions include: PM Marlboro (28 cents), RJR brand Camel (41 cents), Doral (50 cents), Kool (73 cents) and Salem (80 cents), and Lorillard Newport (24 cents). Policies that decrease price-minimisation strategies will benefit public health. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions.

Minimum energy efficiency standards for appliances: Old and new economic rationales

DOE Office of Scientific and Technical Information (OSTI.GOV)

Houde, Sebastien; Spurlock, C. Anna

In this study, we revisit Hausman and Joskow (1982)'s economic rationales for appliance minimum energy efficiency standards. In addition to the four market failures they argued could justify appliance standards--energy prices below marginal social cost, consumers underestimating energy prices, consumer discount rates above social discount rates, or principal agent problems--we discuss two additional market failures that are relevant and potentially economically important in this context: market power and innovation market failures. We highlight puzzles uncovered by recent empirical results, and suggest directions future research should take to better understand the normative implications of appliance standards.

Rationality and drug use: an experimental approach.

PubMed

Blondel, Serge; Lohéac, Youenn; Rinaudo, Stéphane

2007-05-01

In rational addiction theory, higher discount rates encourage drug use. We test this hypothesis in the general framework of rationality and behaviour under risk. We do so using an experimental design with real monetary incentives. The decisions of 34 drug addicts are compared with those of a control group. The decisions of drug users (DU) are not any less consistent with standard theories of behaviour over time and under risk. Further, there is no difference in the estimated discount rate between drug users and the control group, but the former do appear to be more risk-seeking.

Minimum energy efficiency standards for appliances: Old and new economic rationales

DOE PAGES

Houde, Sebastien; Spurlock, C. Anna

2016-09-01

In this study, we revisit Hausman and Joskow (1982)'s economic rationales for appliance minimum energy efficiency standards. In addition to the four market failures they argued could justify appliance standards--energy prices below marginal social cost, consumers underestimating energy prices, consumer discount rates above social discount rates, or principal agent problems--we discuss two additional market failures that are relevant and potentially economically important in this context: market power and innovation market failures. We highlight puzzles uncovered by recent empirical results, and suggest directions future research should take to better understand the normative implications of appliance standards.

Neural and personality correlates of individual differences related to the effects of acute tryptophan depletion on future reward evaluation.

PubMed

Demoto, Yoshihiko; Okada, Go; Okamoto, Yasumasa; Kunisato, Yoshihiko; Aoyama, Shiori; Onoda, Keiichi; Munakata, Ayumi; Nomura, Michio; Tanaka, Saori C; Schweighofer, Nicolas; Doya, Kenji; Yamawaki, Shigeto

2012-01-01

In general, humans tend to discount the value of delayed reward. An increase in the rate of discounting leads to an inability to select a delayed reward over a smaller immediate reward (reward-delay impulsivity). Although deficits in the serotonergic system are implicated in this reward-delay impulsivity, there is individual variation in response to serotonin depletion. The aim of the present study was to investigate whether the effects of serotonin depletion on the ability to evaluate future reward are affected by individual personality traits or brain activation. Personality traits were assessed using the NEO-Five Factor Inventory and Temperament and Character Inventory. The central serotonergic levels of 16 healthy volunteers were manipulated by dietary tryptophan depletion. Subjects performed a delayed reward choice task that required the continuous estimation of reward value during functional magnetic resonance imaging scanning. Discounting rates were increased in 9 participants, but were unchanged or decreased in 7 participants in response to tryptophan depletion. Participants whose discounting rate was increased by tryptophan depletion had significantly higher neuroticism and lower self-directedness. Furthermore, tryptophan depletion differentially affected the groups in terms of hemodynamic responses to the value of predicted future reward in the right insula. These results suggest that individuals who have high neuroticism and low self-directedness as personality traits are particularly vulnerable to the effect of low serotonin on future reward evaluation accompanied by altered brain activation patterns. Copyright © 2012 S. Karger AG, Basel.

Time discounting and criminal behavior

PubMed Central

Åkerlund, David; Golsteyn, Bart H. H.; Grönqvist, Hans; Lindahl, Lena

2016-01-01

One of the most basic predictions of almost any model of crime is that individual time preferences matter. However, empirical evidence on this fundamental property is essentially nonexistent. To our knowledge, this paper provides the first pieces of evidence on the link between time discounting and crime. We use a unique dataset that combines a survey-based measure of time discount rates (at age 13) with detailed longitudinal register data on criminal behavior spanning over 18 y. Our results show that individuals with short time horizons have a significantly higher risk of criminal involvement later in life. The magnitude of the relationship is substantial and corresponds to roughly one-third of the association between intelligence and crime. PMID:27185950

The base rate principle and the fairness principle in social judgment

PubMed Central

Cao, Jack; Banaji, Mahzarin R.

2016-01-01

Meet Jonathan and Elizabeth. One person is a doctor and the other is a nurse. Who is the doctor? When nothing else is known, the base rate principle favors Jonathan to be the doctor and the fairness principle favors both individuals equally. However, when individuating facts reveal who is actually the doctor, base rates and fairness become irrelevant, as the facts make the correct answer clear. In three experiments, explicit and implicit beliefs were measured before and after individuating facts were learned. These facts were either stereotypic (e.g., Jonathan is the doctor, Elizabeth is the nurse) or counterstereotypic (e.g., Elizabeth is the doctor, Jonathan is the nurse). Results showed that before individuating facts were learned, explicit beliefs followed the fairness principle, whereas implicit beliefs followed the base rate principle. After individuating facts were learned, explicit beliefs correctly aligned with stereotypic and counterstereotypic facts. Implicit beliefs, however, were immune to counterstereotypic facts and continued to follow the base rate principle. Having established the robustness and generality of these results, a fourth experiment verified that gender stereotypes played a causal role: when both individuals were male, explicit and implicit beliefs alike correctly converged with individuating facts. Taken together, these experiments demonstrate that explicit beliefs uphold fairness and incorporate obvious and relevant facts, but implicit beliefs uphold base rates and appear relatively impervious to counterstereotypic facts. PMID:27325760

The base rate principle and the fairness principle in social judgment.

PubMed

Cao, Jack; Banaji, Mahzarin R

2016-07-05

Meet Jonathan and Elizabeth. One person is a doctor and the other is a nurse. Who is the doctor? When nothing else is known, the base rate principle favors Jonathan to be the doctor and the fairness principle favors both individuals equally. However, when individuating facts reveal who is actually the doctor, base rates and fairness become irrelevant, as the facts make the correct answer clear. In three experiments, explicit and implicit beliefs were measured before and after individuating facts were learned. These facts were either stereotypic (e.g., Jonathan is the doctor, Elizabeth is the nurse) or counterstereotypic (e.g., Elizabeth is the doctor, Jonathan is the nurse). Results showed that before individuating facts were learned, explicit beliefs followed the fairness principle, whereas implicit beliefs followed the base rate principle. After individuating facts were learned, explicit beliefs correctly aligned with stereotypic and counterstereotypic facts. Implicit beliefs, however, were immune to counterstereotypic facts and continued to follow the base rate principle. Having established the robustness and generality of these results, a fourth experiment verified that gender stereotypes played a causal role: when both individuals were male, explicit and implicit beliefs alike correctly converged with individuating facts. Taken together, these experiments demonstrate that explicit beliefs uphold fairness and incorporate obvious and relevant facts, but implicit beliefs uphold base rates and appear relatively impervious to counterstereotypic facts.

Modelling the cost effectiveness of antidepressant treatment in primary care.

PubMed

Revicki, D A; Brown, R E; Palmer, W; Bakish, D; Rosser, W W; Anton, S F; Feeny, D

1995-12-01

The aim of this study was to estimate the cost effectiveness of nefazodone compared with imipramine or fluoxetine in treating women with major depressive disorder. Clinical decision analysis and a Markov state-transition model were used to estimate the lifetime health outcomes and medical costs of 3 antidepressant treatments. The model, which represents ideal primary care practice, compares treatment with nefazodone to treatment with either imipramine or fluoxetine. The economic analysis was based on the healthcare system of the Canadian province of Ontario, and considered only direct medical costs. Health outcomes were expressed as quality-adjusted life years (QALYs) and costs were in 1993 Canadian dollars ($Can; $Can1 = $US0.75, September 1995). Incremental cost-utility ratios were calculated comparing the relative lifetime discounted medical costs and QALYs associated with nefazodone with those of imipramine or fluoxetine. Data for constructing the model and estimating necessary parameters were derived from the medical literature, clinical trial data, and physician judgement. Data included information on: Ontario primary care physicians' clinical management of major depression; medical resource use and costs; probabilities of recurrence of depression; suicide rates; compliance rates; and health utilities. Estimates of utilities for depression-related hypothetical health states were obtained from patients with major depression (n = 70). Medical costs and QALYs were discounted to present value using a 5% rate. Sensitivity analyses tested the assumptions of the model by varying the discount rate, depression recurrence rates, compliance rates, and the duration of the model. The base case analysis found that nefazodone treatment costs $Can1447 less per patient than imipramine treatment (discounted lifetime medical costs were $Can50,664 vs $Can52,111) and increases the number of QALYs by 0.72 (13.90 vs 13.18). Nefazodone treatment costs $Can14 less than fluoxetine treatment (estimated discounted lifetime medical costs were $Can50,664 vs $Can50,678) and produces slightly more QALYs (13.90 vs 13.79). In the sensitivity analyses, the cost-effectiveness ratios comparing nefazodone with imipramine ranged from cost saving to $Can17,326 per QALY gained. The cost-effectiveness ratios comparing nefazodone with fluoxetine ranged from cost saving to $Can7327 per QALY gained. The model was most sensitive to assumptions about treatment compliance rates and recurrence rates. The findings suggest that nefazodone may be a cost-effective treatment for major depression compared with imipramine or fluoxetine. The basic findings and conclusions do not change even after modifying model parameters within reasonable ranges.

Temporal framing and the hidden-zero effect: rate-dependent outcomes on delay discounting.

PubMed

Naudé, Gideon P; Kaplan, Brent A; Reed, Derek D; Henley, Amy J; DiGennaro Reed, Florence D

2018-05-01

Recent research suggests that presenting time intervals as units (e.g., days) or as specific dates, can modulate the degree to which humans discount delayed outcomes. Another framing effect involves explicitly stating that choosing a smaller-sooner reward is mutually exclusive to receiving a larger-later reward, thus presenting choices as an extended sequence. In Experiment 1, participants (N = 201) recruited from Amazon Mechanical Turk completed the Monetary Choice Questionnaire in a 2 (delay framing) by 2 (zero framing) design. Regression suggested a main effect of delay, but not zero, framing after accounting for other demographic variables and manipulations. We observed a rate-dependent effect for the date-framing group, such that those with initially steep discounting exhibited greater sensitivity to the manipulation than those with initially shallow discounting. Subsequent analyses suggest these effects cannot be explained by regression to the mean. Experiment 2 addressed the possibility that the null effect of zero framing was due to within-subject exposure to the hidden- and explicit-zero conditions. A new Amazon Mechanical Turk sample completed the Monetary Choice Questionnaire in either hidden- or explicit-zero formats. Analyses revealed a main effect of reward magnitude, but not zero framing, suggesting potential limitations to the generality of the hidden-zero effect. © 2018 Society for the Experimental Analysis of Behavior.

Impairment in delay discounting in schizophrenia and schizoaffective disorder but not primary mood disorders.

PubMed

Brown, Hannah E; Hart, Kamber L; Snapper, Leslie A; Roffman, Joshua L; Perlis, Roy H

2018-05-28

A measure of planning and impulse control, the delay-discounting (DD) task estimates the extent to which an individual decreases the perceived value of a reward as the reward is delayed. We examined cross-disorder performance between healthy controls (n = 88), individuals with bipolar disorder (n = 23), major depressive disorder (n = 43), and primary psychotic disorders (schizophrenia and schizoaffective disorder; n = 51) on the DD task (using a $10 delayed larger reward), as well as the interaction of DD scores with other symptom domains (cognition, psychosis, and affect). We found that individuals with schizophrenia and schizoaffective disorder display significantly greater rates of discounting compared to healthy controls, while individuals with a primary mood disorder do not differ from healthy controls after adjustment for IQ. Further, impairment in working memory is associated with higher discounting rates among individuals with schizophrenia and schizoaffective disorder, but cognitive dysfunction alone does not account for the extent of impairment in DD. Taken together, these results suggest an impaired ability to plan for the future and make adaptive decisions that are specific to individuals with psychotic disorders, and likely related to adverse functional outcomes. More generally, this work demonstrates the presence of variation in impulsivity across major psychiatric illnesses, supporting the use of a trans-diagnostic perspective.

Optimal pricing and lot-sizing for perishable inventory with price and time dependent ramp-type demand

NASA Astrophysics Data System (ADS)

Panda, S.; Saha, S.; Basu, M.

2013-01-01

Product perishability is an important aspect of inventory control. To minimise the effect of deterioration, retailers in supermarkets, departmental store managers, etc. always want higher inventory depletion rate. In this article, we propose a dynamic pre- and post-deterioration cumulative discount policy to enhance inventory depletion rate resulting low volume of deterioration cost, holding cost and hence higher profit. It is assumed that demand is a price and time dependent ramp-type function and the product starts to deteriorate after certain amount of time. Unlike the conventional inventory models with pricing strategies, which are restricted to a fixed number of price changes and to a fixed cycle length, we allow the number of price changes before as well as after the start of deterioration and the replenishment cycle length to be the decision variables. Before start of deterioration, discounts on unit selling price are provided cumulatively in successive pricing cycles. After the start of deterioration, discounts on reduced unit selling price are also provided in a cumulative way. A mathematical model is developed and the existence of the optimal solution is verified. A numerical example is presented, which indicates that under the cumulative effect of price discounting, dynamic pricing policy outperforms static pricing strategy. Sensitivity analysis of the model is carried out.

Dysfunctional Prefrontal Function Is Associated with Impulsivity in People with Internet Gaming Disorder during a Delay Discounting Task.

PubMed

Wang, Yifan; Hu, Yanbo; Xu, Jiaojing; Zhou, Hongli; Lin, Xiao; Du, Xiaoxia; Dong, Guangheng

2017-01-01

Internet gaming disorder (IGD), defined as the persistent use of online games with ignorance of adverse consequences, has increasingly raised widespread public concerns. This study aimed at elucidating the precise mechanisms underlying IGD by comparing intertemporal decision-making process between 18 IGD participants and 21 matched healthy controls (HCs). Both behavioral and fMRI data were recorded from a delay discounting task. At the behavioral level, the IGD showed a higher discount rate k than HC; and in IGD group, both the reaction time (delay - immediate) and the discount rate k were significantly positively correlated with the severity of IGD. At the neural level, the IGD exhibited reduced brain activations in the dorsolateral prefrontal cortex and bilateral inferior frontal gyrus compared to HC during performing delay trials relative to immediate ones. Taken together, the results suggested that IGD showed deficits in making decisions and tended to pursuit immediate satisfaction. The underlying mechanism arises from the deficient ability in evaluating between delayed reward and immediate satisfaction, and the impaired ability in impulse inhibition, which may be associated with the dysfunction of the prefrontal activation. These might be the reason why IGD continue playing online games in spite of facing severe negative consequences.

Temporal discounting and emotional self-regulation in children with attention-deficit/hyperactivity disorder.

PubMed

Utsumi, Daniel Augusto; Miranda, Mônica Carolina; Muszkat, Mauro

2016-12-30

Temporal Discounting (TD) reflects a tendency to discount a reward more deeply the longer its delivery is delayed. TD tasks and behavioral scales have been used to investigate 'hot' executive functions in ADHD. The present study analyzed TD task performance shown by ADHD and control groups for correlations with emotional self-regulation metrics from two scales, the Behavior Rating Inventory of Executive Functions (BRIEF) and the Child Behavior Checklist (CBCL). Children (ages 8-12) with ADHD (n=25) and controls (n=24) were assessed using material rewards (toys) for three types of task: Hypothetical (H); Hypothetical with temporal expectation (HTE); and Real (R). Between-group differences were found for the HTE task, on which the ADHD group showed a higher rate of discounting their favorite toy over time, especially at 10s and 20s. This was the only task on which performance significantly correlated with BRIEF metrics, thus suggesting associations between impulsivity and low emotional self-regulation, but no task was correlated with CBCL score. The conclusion is that tasks involving toys and HTE in particular may be used to investigate TD in children with ADHD and as a means of evaluating the interface between the reward system and emotional self-regulation. Copyright © 2016 Elsevier Ireland Ltd. All rights reserved.

Discrepancies between explicit and implicit self-esteem and their relationship to symptoms of depression and mania.

PubMed

Pavlickova, Hana; Turnbull, Oliver H; Bentall, Richard P

2014-09-01

Self-esteem is a key feature of bipolar symptomatology. However, so far no study has examined the interaction between explicit and implicit self-esteem in individuals vulnerable to bipolar disorder. Cross-sectional design was employed. Thirty children of parents with bipolar disorder and 30 offspring of control parents completed Hamilton Rating Scale for Depression, the Bech-Rafaelson Mania Scale, the Self-esteem Rating Scale and the Implicit Association Test. No differences between groups were revealed in levels of explicit or implicit self-esteem. However, bipolar offspring showed increased levels of symptoms of depression and mania. Furthermore, depressive symptoms were associated with low explicit self-esteem, whilst symptoms of mania were associated with low implicit self-esteem. When self-esteem discrepancies were examined, damaged self-esteem (i.e., low explicit but high implicit self-esteem) was associated with depression, whilst no associations between mania and self-esteem discrepancies were found. Not only explicit, but also implicit self-esteem, and the interactions between the two are of relevance in bipolar symptoms. Clinical implications and future research directions are discussed. Explicit as well as implicit SE, and particularly their relationship, are relevant for mental health. Fluctuations in implicit SE may serve as an early indicator for risk of bipolarity. Psychotherapeutic approaches may be more suitable for one kind of SE challenge than the other. © 2013 The British Psychological Society.

Buspirone Reduces Sexual Risk-Taking Intent but not Cocaine Self-Administration

PubMed Central

Bolin, B. Levi; Lile, Joshua A.; Marks, Katherine R.; Beckmann, Joshua S.; Rush, Craig R.; Stoops, William W.

2016-01-01

Impulsive sexual decision-making may underlie sexual risk-taking behavior that contributes to the disproportionately high prevalence of HIV infection among cocaine users. Delay-discounting procedures measure impulsive decision-making and may provide insight into the underlying mechanisms of sexual risk-taking behavior. The anxiolytic drug buspirone reduces delay discounting in rats and blunts the reinforcing effects of cocaine in some preclinical studies suggesting that it might have utility in the treatment of cocaine-use disorders. This study determined whether buspirone mitigates impulsive risky sexual decision-making in cocaine users on a sexual delay-discounting procedure. The effects of buspirone maintenance on the abuse-related and physiological effects of cocaine were also tested. Nine (N = 9) current cocaine users completed a repeated-measures, inpatient protocol in which sexual delay discounting was assessed following three days of maintenance on placebo and buspirone (30 mg/day) in counterbalanced order. The reinforcing, subject-rated, and physiological effects of placebo and intranasal cocaine (15 and 45 mg) were also assessed during buspirone and placebo maintenance. Buspirone increased the likelihood of condom use for hypothetical sexual partners that were categorized as most likely to have a sexually transmitted infection and least sexually desirable. Cocaine functioned as a reinforcer and increased positive subjective effects ratings, but buspirone maintenance did not impact these effects of cocaine. Buspirone was also safe and tolerable when combined with cocaine and may have blunted some its cardiovascular effects. The results from the sexual delay-discounting procedure indicate that buspirone may reduce preference for riskier sex in cocaine users. PMID:27254258

Temporal discounting of monetary rewards in children and adolescents with ADHD and autism spectrum disorders.

PubMed

Demurie, Ellen; Roeyers, Herbert; Baeyens, Dieter; Sonuga-Barke, Edmund

2012-11-01

It has been difficult to differentiate attention-deficit/hyperactivity disorder (ADHD) and autism spectrum disorder (ASD) in terms of some aspects of their cognitive profile. While both show deficits in executive functions, it has been suggested that they may differ in their response to monetary reward. For instance, children with ADHD prefer small immediate over large delayed rewards more than typically developing controls. One explanation for this is that they discount the value of rewards to a higher degree as they are moved into the future. The current study investigated whether children with ADHD can be differentiated from those with ASD in terms of reward discounting. Thirty-nine children (8-16 y) with ADHD, 34 children with ASD and 46 typically developing controls performed a hypothetical monetary temporal discounting task. Participants were instructed to make repeated choices between small variable rewards (0, 5, 10, 20, 30€) delivered immediately and large rewards delivered after a variable delay. Children with ADHD but not ASD discounted future rewards at a higher rate than typically developing controls. These data confirm steeper discounting of future rewards in ADHD and add to a small but growing literature showing that the psychological profile of ADHD can be distinguished from that of ASD in terms of disrupted motivational processes. © 2012 Blackwell Publishing Ltd.

Examining weight concern and delay discounting in adolescent females.

PubMed

Thamotharan, Sneha; Lange, Krista; Ramos, Ashley; Fields, Sherecce

2016-04-01

Pediatric obesity is a growing public health concern that contributes to high rates of negative long-term physical and mental health outcomes. Research focused on identifying risk for pediatric obesity has linked delay discounting, or an inclination for immediate rewards, as well as weight concern to individuals with greater Body Mass Index (BMI). The current study seeks to fill a void in the literature by examining how these two variables interact to promote higher BMI in female adolescents. Adolescent (n=60) females between the ages of 13-19years (mage=17.45, SD=1.74) of age completed the Eating Disorder Examination Questionnaire (EDE-Q) and the Delay Discounting Questionnaire. A mediation model examined whether delay discounting accounted for the relationship between weight concern and BMI. Results indicate that in the current study weight concern was negatively related to delay discounting and delay discounting was negatively related to BMI. The overall model revealed that a partial mediation occurred [b=1.28, t(60)=4.92, p<0.01]. These results suggest that while impulsivity is an important factor to consider, other constructs may also be influential in how weight concerns contribute to greater BMI. Nevertheless, the results indicate that prevention and interventions should identify females with high levels of both weight concern and impulsivity as an increased risk for experiencing pediatric obesity and long-term negative health outcomes. Copyright © 2016 Elsevier Ltd. All rights reserved.

Problem and Pathological Gambling in Schizophrenia: Exploring Links with Substance Use and Impulsivity.

PubMed

Fortgang, Rebecca G; Hoff, Rani A; Potenza, Marc N

2018-02-16

High rates of both problem and pathological gambling (PPG) and substance-use disorders (SUDs) have been reported in schizophrenia, and yet PPG frequently goes undetected in clinical practice and unexamined in research. Here, we aimed to examine the relationship between PPG and SUDs in a large sample of patients across several factors related to both gambling and substance use, including poly-substance use. Additionally, delay discounting is a form of impulsivity known to positively associate with both PPG and SUDs and thought to underlie mechanisms of addiction in both contexts. We aimed to investigate the relationship between PPG and delay discounting in schizophrenia. 337 individuals with schizophrenia completed structured face-to-face interviews regarding gambling behaviors, substance use, and delay discounting. PPG in schizophrenia was associated with substance use, in particular with poly-substance use, and with delay discounting among males. Factors related to substance use were strongly linked with gambling in this sample, but not always with PPG more than recreational gambling. Our findings overall support the notions that multiple forms of gambling in schizophrenia are clinically relevant, that gambling may share common substrates with substance use, and that delay discounting represents a potential mechanism of this association in males.

Estimating the Impact of Raising Prices and Eliminating Discounts on Cigarette Smoking Prevalence in the United States.

PubMed

Marynak, Kristy L; Xu, Xin; Wang, Xu; Holmes, Carissa Baker; Tynan, Michael A; Pechacek, Terry

2016-01-01

The average retail price per pack of cigarettes is less than $6, which is substantially lower than the $10 per-pack target established in 2014 by the Surgeon General to reduce the smoking rate. We estimated the impact of three cigarette pricing scenarios on smoking prevalence among teens aged 12-17 years, young adults aged 18-25 years, and adults aged ≥26 years, by state: (1) $0.94 federal tax increase on cigarettes, as proposed in the fiscal year 2017 President's budget; (2) $10 per-pack retail price, allowing discounts; and (3) $10 per-pack retail price, eliminating discounts. We conducted Monte Carlo simulations to generate point estimates of reductions in cigarette smoking prevalence by state. We found that each price scenario would substantially reduce cigarette smoking prevalence. A $10 per-pack retail price eliminating discounts could result in 637,270 fewer smokers aged 12-17 years; 4,186,954 fewer smokers aged 18-25 years; and 7,722,460 fewer smokers aged ≥26 years. Raising cigarette prices and eliminating discounts could substantially reduce cigarette smoking prevalence as well as smoking-related death and disease.

Estimating the clinical and economic benefit associated with incremental improvements in sustained virologic response in chronic hepatitis C.

PubMed

McEwan, Phil; Ward, Thomas; Bennett, Hayley; Kalsekar, Anupama; Webster, Samantha; Brenner, Michael; Yuan, Yong

2015-01-01

Hepatitis C virus (HCV) infection is one of the principle causes of chronic liver disease. Successful treatment significantly decreases the risk of hepatic morbidity and mortality. Current standard of care achieves sustained virologic response (SVR) rates of 40-80%; however, the HCV therapy landscape is rapidly evolving. The objective of this study was to quantify the clinical and economic benefit associated with increasing levels of SVR. A published Markov model (MONARCH) that simulates the natural history of hepatitis C over a lifetime horizon was used. Discounted and non-discounted life-years (LYs), quality-adjusted life-years (QALYs) and cost of complication management were estimated for various plausible SVR rates. To demonstrate the robustness of projections obtained, the model was validated to ten UK-specific HCV studies. QALY estimates ranged from 18.0 years for those treated successfully in fibrosis stage F0 to 7.5 years (discounted) for patients in fibrosis stage F4 who remain untreated. Predicted QALY gains per 10% improvement in SVR ranged from 0.23 (F0) to 0.64 (F4) and 0.58 (F0) to 1.35 (F4) in 40 year old patients (discounted and non-discounted results respectively). In those aged 40, projected discounted HCV-related costs are minimised with successful treatment in F0/F1 (at approximately £ 300), increasing to £ 49,300 in F4 patients who remain untreated. Validation of the model to published UK cost-effectiveness studies produce R2 goodness of fit statistics of 0.988, 0.978 and of 0.973 for total costs, QALYs and incremental cost effectiveness ratios, respectively. Projecting the long-term clinical and economic consequences associated with chronic hepatitis C is a necessary requirement for the evaluation of new treatments. The principle analysis demonstrates the significant impact on expected costs, LYs and QALYs associated with increasing SVR. A validation analysis demonstrated the robustness of the results reported.

The effects of divided attention on implicit and explicit memory performance.

PubMed

Schmitter-Edgecombe, M

1996-03-01

This study explored the nature of the relationship between attention available at learning and subsequent implicit and explicit memory performance. One hundred neurologically normal subjects rated their liking of target words on a five-point scale. Half of the subjects completed the word-rating task in a full attention condition and the other half performed the task in a divided attention condition. Following administration of the word-rating task, all subjects completed five memory tests, three implicit (category association, tachistoscopic identification, and perceptual clarification) and two explicit (semantic-cued recall and graphemic-cued recall), each bearing on a different subset of the list of previously presented target words. The results revealed that subjects in the divided attention condition performed significantly more poorly than subjects in the full attention condition on the explicit memory measures. In contrast, there were no significant group differences in performance on the implicit memory measures. These findings suggest that the attention to an episode that is necessary to produce later explicit memory may differ from that necessary to produce unconscious influences. The relationship between implicit memory, neurologic injury and automatic processes is discussed.

Application of a Uniform Price Quality Adjusted Discount Auction for Assigning Voluntary Separation Pay

DTIC Science & Technology

2011-03-01

consistent with economic theory which suggested that younger individuals should discount income at a higher rate than older individuals ( Mankiw , 2004...http://www.cna.org Henderson, D. R. (2007). The concise encyclopedia of economics . Indianapolis, IN: Liberty Fund. Mankiw , N. G. (2004...survey data was used to estimate the effects of personal, professional and economic factors on a Marine officer’s decision to participate in a voluntary

EOQ model for perishable products with price-dependent demand, pre and post discounted selling price

NASA Astrophysics Data System (ADS)

Santhi, G.; Karthikeyan, K.

2017-11-01

In this article we introduce an economic order quantity model for perishable products like vegetables, fruits, milk, flowers, meat, etc.,with price-dependent demand, pre and post discounted selling price. Here we consider the demand is depending on selling price and deterioration rate is constant. Here we developed mathematical model to determine optimal discounton the unit selling price to maximize total profit. Numerical examples are given for illustrated.

Simplified energy design economics: Principles of economics applied to energy conservation and solar energy investments in buildings

NASA Astrophysics Data System (ADS)

Marshall, H. E.; Ruegg, R. T.; Wilson, F.

1980-01-01

Economic analysis techniques for evaluating alternative energy conservation investments in buildings are presented. Life cycle cost, benefit cost, savings to investment, payback, and rate of return analyses are explained and illustrated. The procedure for discounting is described for a heat pump investment. Formulas, tables of discount factors, and detailed instructions are provided to give all information required to make economic evaluations of energy conserving building designs.

Introducing Upfront Money Can Decrease Discounting in Intertemporal Choices with Losses

PubMed Central

Jiang, Cheng-Ming; Sun, Hong-Yue; Zheng, Sheng-Hua; Wang, Liang-Jun; Qin, Yu

2016-01-01

People generally tend to advance gains and postpone losses in intertemporal choice. Jiang et al. (2014) recently showed that adding upfront losses or gains to both smaller and sooner (SS) and larger and later (LL) rewards can decrease people’s discounting. To account for this decrease, they proposed the salience hypothesis, which states that introducing upfront losses or gains makes the money dimension more salient than not, thus increasing people’s preference for LL rewards. Considering that decreasing the discounting of delayed losses is imperative and that most previous studies have focused on intertemporal choices with gains, in the current paper we conducted two experiments and used hypothetical money outcomes to examine whether the effect of upfront money could be extended to intertemporal choices with losses. The results showed that when both SS and LL intertemporal losses were combined with an upfront loss or gain, people’s discounting rate decreased and the preference for the SS option increased. This finding further supports the salience account. PMID:27597839

Introducing Upfront Money Can Decrease Discounting in Intertemporal Choices with Losses.

PubMed

Jiang, Cheng-Ming; Sun, Hong-Yue; Zheng, Sheng-Hua; Wang, Liang-Jun; Qin, Yu

2016-01-01

People generally tend to advance gains and postpone losses in intertemporal choice. Jiang et al. (2014) recently showed that adding upfront losses or gains to both smaller and sooner (SS) and larger and later (LL) rewards can decrease people's discounting. To account for this decrease, they proposed the salience hypothesis, which states that introducing upfront losses or gains makes the money dimension more salient than not, thus increasing people's preference for LL rewards. Considering that decreasing the discounting of delayed losses is imperative and that most previous studies have focused on intertemporal choices with gains, in the current paper we conducted two experiments and used hypothetical money outcomes to examine whether the effect of upfront money could be extended to intertemporal choices with losses. The results showed that when both SS and LL intertemporal losses were combined with an upfront loss or gain, people's discounting rate decreased and the preference for the SS option increased. This finding further supports the salience account.

Supply chain coordination with defective items and quantity discount

NASA Astrophysics Data System (ADS)

Lin, Hsien-Jen; Lin, Yu-Jen

2014-12-01

This study develops an integrated inventory system involving defective items and quantity discount for optimal pricing and ordering strategies. The model analysed in this study is one in which the buyer orders a quantity, the vendor produces more than buyer's order quantity in order to reduce set-up cost, and then he/she offers an all-units quantity discount to the buyer. Our objective is to determine the optimal order quantity, retail price, mark-up rate, and the number of shipments per production run from the vendor to the buyer, so that the entire supply chain joint total profit incurred has a maximum value. Furthermore, an algorithm of finding the optimal solution is developed. Numerical examples are provided to illustrate the theoretical results.

Stochastic integrated assessment of climate tipping points indicates the need for strict climate policy

NASA Astrophysics Data System (ADS)

Lontzek, Thomas S.; Cai, Yongyang; Judd, Kenneth L.; Lenton, Timothy M.

2015-05-01

Perhaps the most `dangerous’ aspect of future climate change is the possibility that human activities will push parts of the climate system past tipping points, leading to irreversible impacts. The likelihood of such large-scale singular events is expected to increase with global warming, but is fundamentally uncertain. A key question is how should the uncertainty surrounding tipping events affect climate policy? We address this using a stochastic integrated assessment model, based on the widely used deterministic DICE model. The temperature-dependent likelihood of tipping is calibrated using expert opinions, which we find to be internally consistent. The irreversible impacts of tipping events are assumed to accumulate steadily over time (rather than instantaneously), consistent with scientific understanding. Even with conservative assumptions about the rate and impacts of a stochastic tipping event, today’s optimal carbon tax is increased by ~50%. For a plausibly rapid, high-impact tipping event, today’s optimal carbon tax is increased by >200%. The additional carbon tax to delay climate tipping grows at only about half the rate of the baseline carbon tax. This implies that the effective discount rate for the costs of stochastic climate tipping is much lower than the discount rate for deterministic climate damages. Our results support recent suggestions that the costs of carbon emission used to inform policy are being underestimated, and that uncertain future climate damages should be discounted at a low rate.

The Ms. Stereotype Revisited: Implicit and Explicit Facets

ERIC Educational Resources Information Center

Malcolmson, Kelly A.; Sinclair, Lisa

2007-01-01

Implicit and explicit stereotypes toward the title Ms. were examined. Participants read a short description of a target person whose title of address varied (Ms., Mrs., Miss, Mr.). They then rated the person on agentic and communal traits and completed an Implicit Association Test. Replicating earlier research (Dion, 1987), at an explicit level,…

Implicit and Explicit Attitudes of Educators toward the Emotional Disturbance Label

ERIC Educational Resources Information Center

Jones, James Patrick

2009-01-01

This study examined implicit and explicit attitudes of teachers toward the Emotional Disturbance (ED) label, the strength of association between implicit and explicit ratings, and the variance in attitudes between different types of teachers or among teachers in different settings. Ninety-eight teachers (52 regular education and 46 special…

Lifetime earnings for physicians across specialties.

PubMed

Leigh, J Paul; Tancredi, Daniel; Jerant, Anthony; Romano, Patrick S; Kravitz, Richard L

2012-12-01

Earlier studies estimated annual income differences across specialties, but lifetime income may be more relevant given physicians' long-term commitments to specialties. Annual income and work hours data were collected from 6381 physicians in the nationally representative 2004-2005 Community Tracking Study. Data regarding years of residency were collected from AMA FREIDA. Present value models were constructed assuming 3% discount rates. Estimates were adjusted for demographic and market covariates. Sensitivity analyses included 4 alternative models involving work hours, retirement, exogenous variables, and 1% discount rate. Estimates were generated for 4 broad specialty categories (Primary Care, Surgery, Internal Medicine and Pediatric Subspecialties, and Other), and for 41 specific specialties. The estimates of lifetime earnings for the broad categories of Surgery, Internal Medicine and Pediatric Subspecialties, and Other specialties were $1,587,722, $1,099,655, and $761,402 more than for Primary Care. For the 41 specific specialties, the top 3 (with family medicine as reference) were neurological surgery ($2,880,601), medical oncology ($2,772,665), and radiation oncology ($2,659,657). The estimates from models with varying rates of retirement and including only exogenous variables were similar to those in the preferred model. The 1% discount model generated estimates that were roughly 150% larger than the 3% model. There was considerable variation in the lifetime earnings across physician specialties. After accounting for varying residency years and discounting future earnings, primary care specialties earned roughly $1-3 million less than other specialties. Earnings' differences across specialties may undermine health reform efforts to control costs and ensure adequate numbers of primary care physicians.

Modelling lifetime cost consequences of ReSTOR® in cataract surgery in four European countries

PubMed Central

Lafuma, Antoine; Berdeaux, Gilles

2008-01-01

Background To compare the lifetime costs of liberating patients from spectacles after cataract surgery by implanting the multifocal intraocular lens (IOL) 'ReSTOR®' versus monofocal IOLs in France, Italy, Germany and Spain. Methods A Markov model was created to follow patient cohorts from cataract surgery until death. Prevalence rates of patients not needing spectacles after cataract surgery were obtained from clinical trials. Resource utilisation included implant surgery, IOLs, spectacles, visits to ophthalmologists and eye centres, transport, and time lost by patients. Economic perspectives were those of Society and Sickness Funds (SFs). Results The mean number of spectacles purchased after ReSTOR® was 1.34–1.61 and after monofocal IOLs 6.05–7.27. From the societal perspective, total cost estimates discounted by 3% were between €3,551 and €4,052 with ReSTOR® compared to €3,989 and €5,548 with monofocal IOLs. Undiscounted savings related to ReSTOR® ranged from €815 to €2,164. From the SFs' perspective total cost estimates discounted by 3% were between €2,150 and €2,524 with ReSTOR® compared to €2,324 and €2,610 with monofocal IOLs. Savings related to ReSTOR®, once costs discounted, ranged from €61 to €219. Discount and spectacle freedom prevalence rates were the most sensitive parameters. Conclusion The bulk of the savings related to ReSTOR® were realized outside the SF. From both a societal and SF perspective, savings, after a 3% discounting, achieved by liberating patients from spectacles counterbalanced the initially higher cost of ReSTOR®. ReSTOR® is a cost saving alternative to spectacles for patients requiring cataract surgery. PMID:18627594

Cognitive Decline Is Associated with Risk Aversion and Temporal Discounting in Older Adults without Dementia

PubMed Central

James, Bryan D.; Boyle, Patricia A.; Yu, Lei; Han, S. Duke; Bennett, David A.

2015-01-01

Risk aversion and temporal discounting are preferences that are strongly linked to sub-optimal financial and health decision making ability. Prior studies have shown they differ by age and cognitive ability, but it remains unclear whether differences are due to age-related cognitive decline or lower cognitive abilities over the life span. We tested the hypothesis that cognitive decline is associated with higher risk aversion and temporal discounting in 455 older persons without dementia from the Memory and Aging Project, a longitudinal cohort study of aging in Chicago. All underwent repeated annual cognitive evaluations using a detailed battery including 19 tests. Risk aversion was measured using standard behavioral economics questions: participants were asked to choose between a certain monetary payment versus a gamble in which they could gain more or nothing; potential gamble gains varied across questions. Temporal discounting: participants were asked to choose between an immediate, smaller payment and a delayed, larger one; two sets of questions addressed small and large stakes based on payment amount. Regression analyses were used to examine whether prior rate of cognitive decline predicted level of risk aversion and temporal discounting, controlling for age, sex, and education. Over an average of 5.5 (SD=2.9) years, cognition declined at an average of 0.016 units per year (SD=0.03). More rapid cognitive decline predicted higher levels of risk aversion (p=0.002) and temporal discounting (small stakes: p=0.01, high stakes: p=0.006). Further, associations between cognitive decline and risk aversion (p=0.015) and large stakes temporal discounting (p=0.026) persisted in analyses restricted to persons without any cognitive impairment (i.e., no dementia or mild cognitive impairment); the association of cognitive decline and small stakes temporal discounting was no longer statistically significant (p=0.078). These findings are consistent with the hypothesis that subtle age-related changes in cognition can detrimentally affect individual preferences that are critical for maintaining health and well being. PMID:25838074

Cognitive decline is associated with risk aversion and temporal discounting in older adults without dementia.

PubMed

James, Bryan D; Boyle, Patricia A; Yu, Lei; Han, S Duke; Bennett, David A

2015-01-01

Risk aversion and temporal discounting are preferences that are strongly linked to sub-optimal financial and health decision making ability. Prior studies have shown they differ by age and cognitive ability, but it remains unclear whether differences are due to age-related cognitive decline or lower cognitive abilities over the life span. We tested the hypothesis that cognitive decline is associated with higher risk aversion and temporal discounting in 455 older persons without dementia from the Memory and Aging Project, a longitudinal cohort study of aging in Chicago. All underwent repeated annual cognitive evaluations using a detailed battery including 19 tests. Risk aversion was measured using standard behavioral economics questions: participants were asked to choose between a certain monetary payment versus a gamble in which they could gain more or nothing; potential gamble gains varied across questions. Temporal discounting: participants were asked to choose between an immediate, smaller payment and a delayed, larger one; two sets of questions addressed small and large stakes based on payment amount. Regression analyses were used to examine whether prior rate of cognitive decline predicted level of risk aversion and temporal discounting, controlling for age, sex, and education. Over an average of 5.5 (SD=2.9) years, cognition declined at an average of 0.016 units per year (SD=0.03). More rapid cognitive decline predicted higher levels of risk aversion (p=0.002) and temporal discounting (small stakes: p=0.01, high stakes: p=0.006). Further, associations between cognitive decline and risk aversion (p=0.015) and large stakes temporal discounting (p=0.026) persisted in analyses restricted to persons without any cognitive impairment (i.e., no dementia or mild cognitive impairment); the association of cognitive decline and small stakes temporal discounting was no longer statistically significant (p=0.078). These findings are consistent with the hypothesis that subtle age-related changes in cognition can detrimentally affect individual preferences that are critical for maintaining health and well being.

47 CFR 54.505 - Discounts.

Code of Federal Regulations, 2011 CFR

2011-10-01

... SERVICE Universal Service Support for Schools and Libraries § 54.505 Discounts. (a) Discount mechanism. Discounts for eligible schools and libraries shall be set as a percentage discount from the pre-discount price. (b) Discount percentages. The discounts available to eligible schools and libraries shall range...

47 CFR 54.505 - Discounts.

Code of Federal Regulations, 2012 CFR

2012-10-01

... SERVICE Universal Service Support for Schools and Libraries § 54.505 Discounts. (a) Discount mechanism. Discounts for eligible schools and libraries shall be set as a percentage discount from the pre-discount price. (b) Discount percentages. The discounts available to eligible schools and libraries shall range...

Implicit identification with drug and alcohol use predicts retention in residential rehabilitation programs.

PubMed

Wolff, Nathan; von Hippel, Courtney; Brener, Loren; von Hippel, William

2015-03-01

Research has identified numerous factors associated with successful treatment in alcohol and drug rehabilitation programs, yet treatment completion rates are often low and subsequent relapse rates very high. We propose that people's implicit identification with drugs and alcohol may be an additional factor that impacts their ability to complete abstinence-based rehabilitation programs. In the current research, we measured implicit identification with drugs and alcohol using the Implicit Association Test (Greenwald, McGhee, & Schwartz, 1998) among 137 members of a residential rehabilitation program for drugs and alcohol (104 men; mean age = 35 years old, 47 of whom were court-ordered to attend). Implicit identification with drugs and alcohol was measured within 1 week of arrival and again 3 weeks later, prior to the onset of the treatment phase of the program. Duration in rehabilitation was assessed 1 year later. Consistent with predictions, implicit identification with drugs and alcohol predicted the duration that people remained in residential rehabilitation even though a self-report measure of identification with drugs and alcohol did not. These results suggest that implicit identification with drugs and alcohol might be an important predictor of treatment outcomes, even among those with serious problems with drug and alcohol use. (PsycINFO Database Record (c) 2015 APA, all rights reserved).

The economic feasibility of price discounts to improve diet in Australian Aboriginal remote communities.

PubMed

Magnus, Anne; Moodie, Marj L; Ferguson, Megan; Cobiac, Linda J; Liberato, Selma C; Brimblecombe, Julie

2016-04-01

To estimate the cost-effectiveness of fiscal measures applied in remote community food stores for Aboriginal Australians. Six price discount strategies on fruit, vegetables, diet drinks and water were modelled. Baseline diet was measured as 12 months' actual food sales data in three remote Aboriginal communities. Discount-induced changes in food purchases were based on published price elasticity data while the weight of the daily diet was assumed constant. Dietary change was converted to change in sodium and energy intake, and body mass index (BMI) over a 12-month period. Improved lifetime health outcomes, modelled for the remote population of Aboriginal and Torres Strait Islanders, were converted to disability adjusted life years (DALYs) saved using a proportional multistate lifetable model populated with diet-related disease risks and Aboriginal and Torres Strait Islander rates of disease. While dietary change was small, five of the six price discount strategies were estimated as cost-effective, below a $50,000/DALY threshold. Stakeholders are committed to finding ways to reduce important inequalities in health status between Aboriginal and Torres Strait Islanders and non-Indigenous Australians. Price discounts offer potential to improve Aboriginal and Torres Strait Islander health. Verification of these results by trial-based research coupled with consideration of factors important to all stakeholders is needed. © 2015 The Authors.

Racial bias is associated with ingroup death rate for Blacks and Whites: Insights from Project Implicit.

PubMed

Leitner, Jordan B; Hehman, Eric; Ayduk, Ozlem; Mendoza-Denton, Rodolfo

2016-10-20

Research suggests that, among Whites, racial bias predicts negative ingroup health outcomes. However, little is known about whether racial bias predicts ingroup health outcomes among minority populations. The aim of the current research was to understand whether racial bias predicts negative ingroup health outcomes for Blacks. We compiled racial bias responses from 250,665 Blacks and 1,391,632 Whites to generate county-level estimates of Blacks' and Whites' implicit and explicit biases towards each other. We then examined the degree to which these biases predicted ingroup death rate from circulatory-related diseases. In counties where Blacks harbored more implicit bias towards Whites, Blacks died at a higher rate. Additionally, consistent with previous research, in counties where Whites harbored more explicit bias towards Blacks, Whites died at a higher rate. These links between racial bias and ingroup death rate were independent of county-level socio-demographic characteristics, and racial biases from the outgroup in the same county. Findings indicate that racial bias is related to negative ingroup health outcomes for both Blacks and Whites, though this relationship is driven by implicit bias for Blacks, and explicit bias for Whites. Copyright © 2016 Elsevier Ltd. All rights reserved.

Is there time discounting for risk premium?

PubMed

Shavit, Tal; Rosenboim, Mosi

2015-03-01

Individuals with a higher subjective discount rate concentrate more on the present and delay is more significant for them. However, when a risky asset is delayed, not only is the outcome delayed but also the risk. In this paper, we suggest a new, two-stage experimental method with real monetary incentives that allows us to distinguish between the effect of the risk and the effect of the time when pricing a risky asset. We show that when individuals have greater preference for the present, their risk aversion for a risky asset realized in the future decreases. We argue that the effect of the risk for future asset is lower for individuals with higher time preference because they discount not only the outcome but also the risks. © Society for the Experimental Analysis of Behavior.

Is the Rational Addiction model inherently impossible to estimate?

PubMed

Laporte, Audrey; Dass, Adrian Rohit; Ferguson, Brian S

2017-07-01

The Rational Addiction (RA) model is increasingly often estimated using individual level panel data with mixed results; in particular, with regard to the implied rate of time discount. This paper suggests that the odd values of the rate of discount frequently found in the literature may in fact be a consequence of the saddle-point dynamics associated with individual level inter-temporal optimization problems. We report the results of Monte Carlo experiments estimating RA-type difference equations that seem to suggest the possibility that the presence of both a stable and an unstable root in the dynamic process may create serious problems for the estimation of RA equations. Copyright © 2016 Elsevier B.V. All rights reserved.

“Slimming” of power-law tails by increasing market returns

NASA Astrophysics Data System (ADS)

Sornette, D.

2002-06-01

We introduce a simple generalization of rational bubble models which removes the fundamental problem discovered by Lux and Sornette (J. Money, Credit and Banking, preprint at http://xxx.lanl.gov/abs/cond-mat/9910141) that the distribution of returns is a power law with exponent <1, in contradiction with empirical data. The idea is that the price fluctuations associated with bubbles must on average grow with the mean market return r. When r is larger than the discount rate rδ, the distribution of returns of the observable price, sum of the bubble component and of the fundamental price, exhibits an intermediate tail with an exponent which can be larger than 1. This regime r> rδ corresponds to a generalization of the rational bubble model in which the fundamental price is no more given by the discounted value of future dividends. We explain how this is possible. Our model predicts that, the higher is the market remuneration r above the discount rate, the larger is the power-law exponent and thus the thinner is the tail of the distribution of price returns.

Clinicians' implicit ethnic/racial bias and perceptions of care among Black and Latino patients.

PubMed

Blair, Irene V; Steiner, John F; Fairclough, Diane L; Hanratty, Rebecca; Price, David W; Hirsh, Holen K; Wright, Leslie A; Bronsert, Michael; Karimkhani, Elhum; Magid, David J; Havranek, Edward P

2013-01-01

We investigated whether clinicians' explicit and implicit ethnic/racial bias is related to black and Latino patients' perceptions of their care in established clinical relationships. We administered a telephone survey to 2,908 patients, stratified by ethnicity/race, and randomly selected from the patient panels of 134 clinicians who had previously completed tests of explicit and implicit ethnic/racial bias. Patients completed the Primary Care Assessment Survey, which addressed their clinicians' interpersonal treatment, communication, trust, and contextual knowledge. We created a composite measure of patient-centered care from the 4 subscales. Levels of explicit bias were low among clinicians and unrelated to patients' perceptions. Levels of implicit bias varied among clinicians, and those with greater implicit bias were rated lower in patient-centered care by their black patients as compared with a reference group of white patients (P = .04). Latino patients gave the clinicians lower ratings than did other groups (P <.0001), and this did not depend on the clinicians' implicit bias (P = .98). This is among the first studies to investigate clinicians' implicit bias and communication processes in ongoing clinical relationships. Our findings suggest that clinicians' implicit bias may jeopardize their clinical relationships with black patients, which could have negative effects on other care processes. As such, this finding supports the Institute of Medicine's suggestion that clinician bias may contribute to health disparities. Latinos' overall greater concerns about their clinicians appear to be based on aspects of care other than clinician bias.

E-Rate: A Resource Guide for Educators.

ERIC Educational Resources Information Center

Fulton, David

2000-01-01

Explains the E-rate as discounts provided by the Federal Communications Commission (FCC) that are available to schools, libraries, and rural health care providers on telecommunications services. Lists E-rate resources including Web sites, FCC and Department of Education sites, and Listserv discussion groups. (LRW)

Implicit motives, explicit traits, and task and contextual performance at work.

PubMed

Lang, Jonas W B; Zettler, Ingo; Ewen, Christian; Hülsheger, Ute R

2012-11-01

Personality psychologists have long argued that explicit traits (as measured by questionnaires) channel the expression of implicit motives (as measured by coding imaginative verbal behavior) such that both interact in the prediction of relevant life outcome variables. In the present research, we apply these ideas in the context of industrial and organizational psychology and propose that 2 explicit traits work as channels for the expression of 3 core implicit motives in task and contextual job performance (extraversion for implicit affiliation and implicit power; explicit achievement for implicit achievement). As a test of these theoretical ideas, we report a study in which employees (N = 241) filled out a questionnaire booklet and worked on an improved modern implicit motive measure, the operant motive test. Their supervisors rated their task and contextual performance. Results support 4 of the 6 theoretical predictions and show that interactions between implicit motives and explicit traits increase the explained criterion variance in both task and contextual performance. (c) 2012 APA, all rights reserved.

How often do sensitivity analyses for economic parameters change cost-utility analysis conclusions?

PubMed

Schackman, Bruce R; Gold, Heather Taffet; Stone, Patricia W; Neumann, Peter J

2004-01-01

There is limited evidence about the extent to which sensitivity analysis has been used in the cost-effectiveness literature. Sensitivity analyses for health-related QOL (HR-QOL), cost and discount rate economic parameters are of particular interest because they measure the effects of methodological and estimation uncertainties. To investigate the use of sensitivity analyses in the pharmaceutical cost-utility literature in order to test whether a change in economic parameters could result in a different conclusion regarding the cost effectiveness of the intervention analysed. Cost-utility analyses of pharmaceuticals identified in a prior comprehensive audit (70 articles) were reviewed and further audited. For each base case for which sensitivity analyses were reported (n = 122), up to two sensitivity analyses for HR-QOL (n = 133), cost (n = 99), and discount rate (n = 128) were examined. Article mentions of thresholds for acceptable cost-utility ratios were recorded (total 36). Cost-utility ratios were denominated in US dollars for the year reported in each of the original articles in order to determine whether a different conclusion would have been indicated at the time the article was published. Quality ratings from the original audit for articles where sensitivity analysis results crossed the cost-utility ratio threshold above the base-case result were compared with those that did not. The most frequently mentioned cost-utility thresholds were $US20,000/QALY, $US50,000/QALY, and $US100,000/QALY. The proportions of sensitivity analyses reporting quantitative results that crossed the threshold above the base-case results (or where the sensitivity analysis result was dominated) were 31% for HR-QOL sensitivity analyses, 20% for cost-sensitivity analyses, and 15% for discount-rate sensitivity analyses. Almost half of the discount-rate sensitivity analyses did not report quantitative results. Articles that reported sensitivity analyses where results crossed the cost-utility threshold above the base-case results (n = 25) were of somewhat higher quality, and were more likely to justify their sensitivity analysis parameters, than those that did not (n = 45), but the overall quality rating was only moderate. Sensitivity analyses for economic parameters are widely reported and often identify whether choosing different assumptions leads to a different conclusion regarding cost effectiveness. Changes in HR-QOL and cost parameters should be used to test alternative guideline recommendations when there is uncertainty regarding these parameters. Changes in discount rates less frequently produce results that would change the conclusion about cost effectiveness. Improving the overall quality of published studies and describing the justifications for parameter ranges would allow more meaningful conclusions to be drawn from sensitivity analyses.

The single category implicit association test as a measure of implicit social cognition.

PubMed

Karpinski, Andrew; Steinman, Ross B

2006-07-01

The Single Category Implicit Association Test (SC-IAT) is a modification of the Implicit Association Test that measures the strength of evaluative associations with a single attitude object. Across 3 different attitude domains--soda brand preferences, self-esteem, and racial attitudes--the authors found evidence that the SC-IAT is internally consistent and makes unique contributions in the ability to understand implicit social cognition. In a 4th study, the authors investigated the susceptibility of the SC-IAT to faking or self-presentational concerns. Once participants with high error rates were removed, no significant self-presentation effect was observed. These results provide initial evidence for the reliability and validity of the SC-IAT as an individual difference measure of implicit social cognition. Copyright 2006 APA, all rights reserved.

Greater impulsivity is associated with decreased brain activation in obese women during a delay discounting task.

PubMed

Stoeckel, Luke E; Murdaugh, Donna L; Cox, James E; Cook, Edwin W; Weller, Rosalyn E

2013-06-01

Impulsivity and poor inhibitory control are associated with higher rates of delay discounting (DD), or a greater preference for smaller, more immediate rewards at the expense of larger, but delayed rewards. Of the many functional magnetic resonance imaging (fMRI) studies of DD, few have investigated the correlation between individual differences in DD rate and brain activation related to DD trial difficulty, with difficult DD trials expected to activate putative executive function brain areas involved in impulse control. In the current study, we correlated patterns of brain activation as measured by fMRI during difficult vs. easy trials of a DD task with DD rate (k) in obese women. Difficulty was defined by how much a reward choice deviated from an individual's 'indifference point', or the point where the subjective preference for an immediate and a delayed reward was approximately equivalent. We found that greater delay discounting was correlated with less modulation of activation in putative executive function brain areas, such as the middle and superior frontal gyri and inferior parietal lobule, in response to difficult compared to easy DD trials. These results support the suggestion that increased impulsivity is associated with deficient functioning of executive function areas of the brain.

The distribution over time of costs and social net benefits for pertussis immunization programs.

PubMed

Girard, Dorota Zdanowska

2010-03-01

The cost of a six-dose pertussis immunization programs for children and adolescents is investigated in relation to estimators of the price of acellular vaccine, the value of a child's life, levels of vaccination rate and discount rates. We compare the cost of the program maintained over time at 90% with three alternative strategies, each involving a decrease in vaccination coverage. Data from England and Wales, 1966-2005, is used to formalize a delay in occurrence of pertussis cases as a result of a fall in coverage. We first apply the criterion of minimization of the total social cost of pertussis to identify the best cost saving immunization strategy. The results are also discussed in form of the discounted present value of the total social net benefits. We find that the discounted present value of the total social net benefit is maximized when a stable vaccination program at 90% is compared to a gradual decrease in vaccination coverage leading to the lowest vaccination rate. The benefits to society of providing sustained immunization strategy, vaccinating the highest proportion of children and adolescents, are systematically proved on the basis of the second optimisation criterion, independently of the level of estimators applied during economic evaluation for the cost variables.

The Power of the Virtual Ideal Self in Weight Control: Weight-Reduced Avatars Can Enhance the Tendency to Delay Gratification and Regulate Dietary Practices.

PubMed

Kuo, Hsu-Chan; Lee, Chun-Chia; Chiou, Wen-Bin

2016-02-01

The tendency to discount larger future benefits in favor of smaller immediate gains (i.e., temporal discounting) is relevant to the issue of obesity. Successful weight loss requires individuals to sacrifice immediate culinary pleasures in favor of future health gains. Based on the notion that increasing the vividness of one's future self may mitigate temporal discounting and promote the ability to delay gratification, we examined whether viewing one's weight-reduced self (i.e., the ideal self) in a virtual environment can decrease temporal discounting and lead to better regulation of dietary practices. Seventy-six undergraduates who had reported an intention to lose weight were recruited to participate in a laboratory experiment and were randomly assigned to interact with either the weight-reduced self (experimental condition) or the present self (control condition) by looking into a dressing mirror in a virtual fitting room. A temporal-discounting task and a taste test were subsequently administered. Results showed that, compared with control participants, participants who viewed their weight-reduced avatars ate less ice cream in a taste test and were more likely to choose a sugar-free drink as a reward. The discounting rate mediated the association between the avatar manipulation and the amount of ice cream eaten in the subsequent taste test. Overall, our findings suggest that a computer-generated image of one's weight-reduced self may assist in resisting impulses that promote immediate gratification over delayed benefits. This research provides a new approach for controlling impulsive behavior such as dietary regulation and weight control.

Computer program for discounted cash flow/rate of return evaluations

NASA Technical Reports Server (NTRS)

Robson, W. D.

1971-01-01

Technique, incorporated into set of three computer programs, provides economic methodology for reducing all parameters to financially sound common denominator of present worth, and calculates resultant rate of return on new equipment, processes, or systems investments.

The association between parental history and delay discounting among individuals in recovery from addiction.

PubMed

Athamneh, Liqa N; Stein, Jeffrey S; Quisenberry, Amanda J; Pope, Derek; Bickel, Warren K

2017-10-01

Family history of addiction is a risk factor for substance use disorders. Delay discounting (DD) is associated with the risk of substance use and dependence, and is predictive of the likelihood of successful abstinence and treatment outcomes; thus, we investigated the extent to which having parents with addiction (parental history of addiction) and number of addicted parents affect DD among individuals in recovery from addiction. Data from 177 individuals in recovery from addiction from The International Quit and Recovery Registry (IQRR), an ongoing online data collection program that aims to understand addiction and how people succeed in recovery, were included in the analysis. Participants with no, one, or two parents with addiction were compared on measures of DD using an adjusting-amount task. Parental history of addiction was significantly associated with delay discounting. After controlling for age and gender, which were significantly different between groups, participants reporting two biological parents with addiction had significantly higher DD rates compared to those reporting one or no parents with addiction. Participants with two parents with addiction had significantly higher rates of discounting compared to those with no or only one parent with addiction. This information can serve as a foundation to better identify and target important subgroups that need additional or non-traditional intervention strategies to address their larger degree of impulsivity and help maintain abstinence or achieve better treatment outcomes. Copyright © 2017 Elsevier B.V. All rights reserved.

Common neural correlates of intertemporal choices and intelligence in adolescents.

PubMed

Ripke, Stephan; Hübner, Thomas; Mennigen, Eva; Müller, Kathrin U; Li, Shu-Chen; Smolka, Michael N

2015-02-01

Converging behavioral evidence indicates that temporal discounting, measured by intertemporal choice tasks, is inversely related to intelligence. At the neural level, the parieto-frontal network is pivotal for complex, higher-order cognitive processes. Relatedly, underrecruitment of the pFC during a working memory task has been found to be associated with steeper temporal discounting. Furthermore, this network has also been shown to be related to the consistency of intertemporal choices. Here we report an fMRI study that directly investigated the association of neural correlates of intertemporal choice behavior with intelligence in an adolescent sample (n = 206; age 13.7-15.5 years). After identifying brain regions where the BOLD response during intertemporal choice was correlated with individual differences in intelligence, we further tested whether BOLD responses in these areas would mediate the associations between intelligence, the discounting rate, and choice consistency. We found positive correlations between BOLD response in a value-independent decision network (i.e., dorsolateral pFC, precuneus, and occipital areas) and intelligence. Furthermore, BOLD response in a value-dependent decision network (i.e., perigenual ACC, inferior frontal gyrus, ventromedial pFC, ventral striatum) was positively correlated with intelligence. The mediation analysis revealed that BOLD responses in the value-independent network mediated the association between intelligence and choice consistency, whereas BOLD responses in the value-dependent network mediated the association between intelligence and the discounting rate. In summary, our findings provide evidence for common neural correlates of intertemporal choice and intelligence, possibly linked by valuation as well as executive functions.

Are implicit self-esteem measures valid for assessing individual and cultural differences?

PubMed

Falk, Carl F; Heine, Steven J; Takemura, Kosuke; Zhang, Cathy X J; Hsu, Chih-Wei

2015-02-01

Our research utilized two popular theoretical conceptualizations of implicit self-esteem: 1) implicit self-esteem as a global automatic reaction to the self; and 2) implicit self-esteem as a context/domain specific construct. Under this framework, we present an extensive search for implicit self-esteem measure validity among different cultural groups (Study 1) and under several experimental manipulations (Study 2). In Study 1, Euro-Canadians (N = 107), Asian-Canadians (N = 187), and Japanese (N = 112) completed a battery of implicit self-esteem, explicit self-esteem, and criterion measures. Included implicit self-esteem measures were either popular or provided methodological improvements upon older methods. Criterion measures were sampled from previous research on implicit self-esteem and included self-report and independent ratings. In Study 2, Americans (N = 582) completed a shorter battery of these same types of measures under either a control condition, an explicit prime meant to activate the self-concept in a particular context, or prime meant to activate self-competence related implicit attitudes. Across both studies, explicit self-esteem measures far outperformed implicit self-esteem measures in all cultural groups and under all experimental manipulations. Implicit self-esteem measures are not valid for individual or cross-cultural comparisons. We speculate that individuals may not form implicit associations with the self as an attitudinal object. © 2013 Wiley Periodicals, Inc.

76 FR 19034 - Multilayered Wood Flooring From the People's Republic of China: Preliminary Affirmative...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-04-06

... our discount rate, the long-term interest rate calculated according to the methodology described below for the year in which the government agreed to provide the subsidy. Short-Term RMB Interest Rate... rate the following, in order of preference: (A) The cost of long-term, fixed-rate loans of the firm in...

What weight should be assigned to future environmental impacts? A probabilistic cost benefit analysis using recent advances on discounting.

PubMed

Almansa, Carmen; Martínez-Paz, José M

2011-03-01

Cost-benefit analysis is a standard methodological platform for public investment evaluation. In high environmental impact projects, with a long-term effect on future generations, the choice of discount rate and time horizon is of particular relevance, because it can lead to very different profitability assessments. This paper describes some recent approaches to environmental discounting and applies them, together with a number of classical procedures, to the economic evaluation of a plant for the desalination of irrigation return water from intensive farming, aimed at halting the degradation of an area of great ecological value, the Mar Menor, in South Eastern Spain. A Monte Carlo procedure is used in four CBA approaches and three time horizons to carry out a probabilistic sensitivity analysis designed to integrate the views of an international panel of experts in environmental discounting with the uncertainty affecting the market price of the project's main output, i.e., irrigation water for a water-deprived area. The results show which discounting scenarios most accurately estimate the socio-environmental profitability of the project while also considering the risk associated with these two key parameters. The analysis also provides some methodological findings regarding ways of assessing financial and environmental profitability in decisions concerning public investment in the environment. Copyright © 2010 Elsevier B.V. All rights reserved.

Evolution of cooperation on complex networks with synergistic and discounted group interactions

NASA Astrophysics Data System (ADS)

Zhou, Lei; Li, Aming; Wang, Long

2015-06-01

In the real world individuals often engage in group interactions and their payoffs are determined by many factors, including the typical nonlinear interactions, i.e., synergy and discounting. Previous literatures assume that individual payoffs are either synergistically enhanced or discounted with the additional cooperators. Such settings ignore the interplay of these two factors, which is in sharp contrast with the fact that they ubiquitously coexist. Here we investigate how the coexistence and periodical switching of synergistic and discounted group interactions affect the evolution of cooperation on various complex networks. We show that scale-free networks facilitate the emergence of cooperation in terms of fixation probability for group interactions. With nonlinear interactions the heterogeneity of the degree acts as a double-edged sword: below the neutral drift it is the best for cooperation while above the neutral drift it instead provides the least opportunity for cooperators to be fixed. The advantages of the heterogeneity fade as interactive attributes switch between synergy and discounting, which suggests that the heterogeneity of population structures cannot favor cooperators in group interactions even with simple nonlinear interactions. Nonetheless, scale-free networks always guarantee cooperators the fastest rate of fixation. Our work implies that even very simple nonlinear group interactions could greatly shape the fixation probability and fixation time of cooperators in structured populations indicated by complex networks.

Optimal management strategies in variable environments: Stochastic optimal control methods

USGS Publications Warehouse

Williams, B.K.

1985-01-01

Dynamic optimization was used to investigate the optimal defoliation of salt desert shrubs in north-western Utah. Management was formulated in the context of optimal stochastic control theory, with objective functions composed of discounted or time-averaged biomass yields. Climatic variability and community patterns of salt desert shrublands make the application of stochastic optimal control both feasible and necessary. A primary production model was used to simulate shrub responses and harvest yields under a variety of climatic regimes and defoliation patterns. The simulation results then were used in an optimization model to determine optimal defoliation strategies. The latter model encodes an algorithm for finite state, finite action, infinite discrete time horizon Markov decision processes. Three questions were addressed: (i) What effect do changes in weather patterns have on optimal management strategies? (ii) What effect does the discounting of future returns have? (iii) How do the optimal strategies perform relative to certain fixed defoliation strategies? An analysis was performed for the three shrub species, winterfat (Ceratoides lanata), shadscale (Atriplex confertifolia) and big sagebrush (Artemisia tridentata). In general, the results indicate substantial differences among species in optimal control strategies, which are associated with differences in physiological and morphological characteristics. Optimal policies for big sagebrush varied less with variation in climate, reserve levels and discount rates than did either shadscale or winterfat. This was attributed primarily to the overwintering of photosynthetically active tissue and to metabolic activity early in the growing season. Optimal defoliation of shadscale and winterfat generally was more responsive to differences in plant vigor and climate, reflecting the sensitivity of these species to utilization and replenishment of carbohydrate reserves. Similarities could be seen in the influence of both the discount rate and the climatic patterns on optimal harvest strategics. In general, decreases in either the discount rate or in the frequency of favorable weather patterns lcd to a more conservative defoliation policy. This did not hold, however, for plants in states of low vigor. Optimal control for shadscale and winterfat tended to stabilize on a policy of heavy defoliation stress, followed by one or more seasons of rest. Big sagebrush required a policy of heavy summer defoliation when sufficient active shoot material is present at the beginning of the growing season. The comparison of fixed and optimal strategies indicated considerable improvement in defoliation yields when optimal strategies are followed. The superior performance was attributable to increased defoliation of plants in states of high vigor. Improvements were found for both discounted and undiscounted yields.

The Impact of Implicit Self-Theory on Rated Creativity in Third- and Sixth-Graders

ERIC Educational Resources Information Center

Brass, Jillian; Niu, Weihua

2016-01-01

A total of 114 3rd- and 6th-graders from a suburban elementary school participated in a study examining the influence of implicit self-theories on rated creativity in the domains of art and literature in a quasi-experiment. Creativity was measured via the Consensual Assessment Technique. Participants were divided into two groups and received…

A novel multi-item joint replenishment problem considering multiple type discounts.

PubMed

Cui, Ligang; Zhang, Yajun; Deng, Jie; Xu, Maozeng

2018-01-01

In business replenishment, discount offers of multi-item may either provide different discount schedules with a single discount type, or provide schedules with multiple discount types. The paper investigates the joint effects of multiple discount schemes on the decisions of multi-item joint replenishment. In this paper, a joint replenishment problem (JRP) model, considering three discount (all-unit discount, incremental discount, total volume discount) offers simultaneously, is constructed to determine the basic cycle time and joint replenishment frequencies of multi-item. To solve the proposed problem, a heuristic algorithm is proposed to find the optimal solutions and the corresponding total cost of the JRP model. Numerical experiment is performed to test the algorithm and the computational results of JRPs under different discount combinations show different significance in the replenishment cost reduction.

Rural-urban differentials of premature mortality burden in south-west China.

PubMed

Cai, Le; Chongsuvivatwong, Virasakdi

2006-10-14

Yunnan province is located in south western China and is one of the poorest provinces of the country. This study examines the premature mortality burden from common causes of deaths among an urban region, suburban region and rural region of Kunming, the capital of Yunnan. Years of life lost (YLL) rate per 1,000 and mortality rate per 100,000 were calculated from medical death certificates in 2003 and broken down by cause of death, age and gender among urban, suburban and rural regions. YLL was calculated without age-weighting and discounting rate. Rates were age-adjusted to the combined population of three regions. However, 3% discounting rate and a standard age-weighting function were included in the sensitivity analysis. Non-communicable diseases contributed the most YLL in all three regions. The rural region had about 50% higher premature mortality burden compared to the other two regions. YLL from infectious diseases and perinatal problems was still a major problem in the rural region. Among non-communicable diseases, YLL from stroke was the highest in the urban/suburban regions; COPD followed as the second and was the highest in the rural region. Mortality burden from injuries was however higher in the rural region than the other two regions, especially for men. Self-inflicted injuries were between 2-8 times more serious among women. The use of either mortality rate or YLL gives a similar conclusion regarding the order of priority. Reanalysis with age-weighting and 3% discounting rate gave similar results. Urban south western China has already engaged in epidemiological pattern of developed countries. The rural region is additionally burdened by diseases of poverty and injury on top of the non-communicable diseases.

31 CFR 306.35 - Computation of interest.

Code of Federal Regulations, 2010 CFR

2010-07-01

... the discount rates on Treasury bills. Also included are tables of computation of interest on... 6 months, the accrued interest is computed by determining the daily rate of accrual on the basis of the exact number of days in the full interest period and multiplying the daily rate by the exact...

Cost Sensitivity Analysis for Consolidated Interim Storage of Spent Fuel: Evaluating the Effect of Economic Environment Parameters

DOE Office of Scientific and Technical Information (OSTI.GOV)

Cumberland, Riley M.; Williams, Kent Alan; Jarrell, Joshua J.

This report evaluates how the economic environment (i.e., discount rate, inflation rate, escalation rate) can impact previously estimated differences in lifecycle costs between an integrated waste management system with an interim storage facility (ISF) and a similar system without an ISF.

Community Update, 1997-1998.

ERIC Educational Resources Information Center

Anderson, Julie, Ed.

1998-01-01

This document consists of 10 issues of the newsletter "Community Update," containing articles on community and family involvement in education. Article topics include: preparing America's future teachers; reports on satellite town meetings; E-rate (education rate) discounts for telecommunications services in schools and libraries;…

[The imperfect equalizing device: Physician care discount cards and physician care out-of-pocket costs in Iceland.].

PubMed

Vilhjálmsson, Rúnar; Sigurðardóttir, Guðrún V

2003-05-01

Research shows that out-of-pocket health care costs in Iceland and other Western European countries have increased in recent years, and unequal access to health services has been documented. In an attempt to contain out-of-pocket-costs and avoid service inequities, Icelandic health authorities have for a number of years issued health care discount cards. The purpose ot the study was to investigate the distribution of out-of-pocket physician costs and discount cards, and the extent to which the cards reach those who are entitled to them. The study is based on a national panel survey titled Health and Living Conditions in Iceland. A random sample of 18-75 year olds was drawn from the National Register. 1924 respondents participated in the first wave (69% response rate) and 1592 of them (83%) in the second wave. Cross-tabular analysis was used to investigate variations in out-of-pocket physician costs and discount card status across sociodemographic groups. 19.9% of the respondents had accumulated out-of-pocket costs that made them eligible for a discount card. Furthermore, there was considerable variation in the percentage of eligible individuals across population groups. The discount card was poorly distributed, as only 45.7% of eligible individuals had actually obtained a card. This lack of coverage was greatest among younger individuals, parents of young children, individuals in larger households, the full-time employed, and those who had more education and income. The purpose of the discount card is to even out and contain out-of-pocket physician care costs, and sustain equal access to physician services. The purpose is no more than partially reached, as only a minority of eligible individuals are actual cardholders. This can be largely explained by the fact that health authorities have done little to promote the card, and make it cumbersome for patients to obtain it.

Actuarial calculation for PSAK-24 purposes post-employment benefit using market-consistent approach

NASA Astrophysics Data System (ADS)

Effendie, Adhitya Ronnie

2015-12-01

In this paper we use a market-consistent approach to calculate present value of obligation of a companies' post-employment benefit in accordance with PSAK-24 (the Indonesian accounting standard). We set some actuarial assumption such as Indonesian TMI 2011 mortality tables for mortality assumptions, accumulated salary function for wages assumption, a scaled (to mortality) disability assumption and a pre-defined turnover rate for termination assumption. For economic assumption, we use binomial tree method with estimated discount rate as its average movement. In accordance with PSAK-24, the Projected Unit Credit method has been adapted to determine the present value of obligation (actuarial liability), so we use this method with a modification in its discount function.

Implicit Age Cues in Resumes: Subtle Effects on Hiring Discrimination

PubMed Central

Derous, Eva; Decoster, Jeroen

2017-01-01

Anonymous resume screening, as assumed, does not dissuade age discriminatory effects. Building on job market signaling theory, this study investigated whether older applicants may benefit from concealing explicitly mentioned age signals on their resumes (date of birth) or whether more implicit/subtle age cues on resumes (older-sounding names/old-fashioned extracurricular activities) may lower older applicants’ hirability ratings. An experimental study among 610 HR professionals using a mixed factorial design showed hiring discrimination of older applicants based on implicit age cues in resumes. This effect was more pronounced for older raters. Concealing one’s date of birth led to overall lower ratings. Study findings add to the limited knowledge on the effects of implicit age cues on hiring discrimination in resume screening and the usefulness of anonymous resume screening in the context of age. Implications for research and practice are discussed. PMID:28848463

Psychophysics of time perception and intertemporal choice models

NASA Astrophysics Data System (ADS)

Takahashi, Taiki; Oono, Hidemi; Radford, Mark H. B.

2008-03-01

Intertemporal choice and psychophysics of time perception have been attracting attention in econophysics and neuroeconomics. Several models have been proposed for intertemporal choice: exponential discounting, general hyperbolic discounting (exponential discounting with logarithmic time perception of the Weber-Fechner law, a q-exponential discount model based on Tsallis's statistics), simple hyperbolic discounting, and Stevens' power law-exponential discounting (exponential discounting with Stevens' power time perception). In order to examine the fitness of the models for behavioral data, we estimated the parameters and AICc (Akaike Information Criterion with small sample correction) of the intertemporal choice models by assessing the points of subjective equality (indifference points) at seven delays. Our results have shown that the orders of the goodness-of-fit for both group and individual data were [Weber-Fechner discounting (general hyperbola) > Stevens' power law discounting > Simple hyperbolic discounting > Exponential discounting], indicating that human time perception in intertemporal choice may follow the Weber-Fechner law. Indications of the results for neuropsychopharmacological treatments of addiction and biophysical processing underlying temporal discounting and time perception are discussed.

Delay Discounting: Pigeon, Rat, Human – Does it Matter?

PubMed Central

Vanderveldt, Ariana; Oliveira, Luís; Green, Leonard

2016-01-01

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 discuss the generality of discounting, reviewing the effects of different variables on the degree of discounting delayed reinforcers by nonhuman animals. Despite the many similarities in discounting observed between human and nonhuman animals, several differences have been proposed (e.g., the magnitude effect; nonhuman animals discount over a matter of seconds whereas humans report willing to wait months, if not years before receiving a reward), raising the possibility of fundamental species differences in intertemporal choice. After evaluating these differences, we discuss delay discounting from an adaptationist perspective. The pervasiveness of discounting across species and situations suggests it is a fundamental process underlying decision making. PMID:26881899

On the Convergence of an Implicitly Restarted Arnoldi Method

DOE Office of Scientific and Technical Information (OSTI.GOV)

Lehoucq, Richard B.

We show that Sorensen's [35] implicitly restarted Arnoldi method (including its block extension) is simultaneous iteration with an implicit projection step to accelerate convergence to the invariant subspace of interest. By using the geometric convergence theory for simultaneous iteration due to Watkins and Elsner [43], we prove that an implicitly restarted Arnoldi method can achieve a super-linear rate of convergence to the dominant invariant subspace of a matrix. Moreover, we show how an IRAM computes a nested sequence of approximations for the partial Schur decomposition associated with the dominant invariant subspace of a matrix.

Framing (implicitly) matters: the role of religion in attitudes toward immigrants and Muslims in Denmark.

PubMed

Anderson, Joel; Antalíková, Radka

2014-12-01

Denmark is currently experiencing the highest immigration rate in its modern history. Population surveys indicate that negative public attitudes toward immigrants actually stem from attitudes toward their (perceived) Islamic affiliation. We used a framing paradigm to investigate the explicit and implicit attitudes of Christian and Atheist Danes toward targets framed as Muslims or as immigrants. The results showed that explicit and implicit attitudes were more negative when the target was framed as a Muslim, rather than as an immigrant. Interestingly, implicit attitudes were qualified by the participants' religion. Specifically, analyses revealed that Christians demonstrated more negative implicit attitudes toward immigrants than Muslims. Conversely, Atheists demonstrated more negative implicit attitudes toward Muslims than Atheists. These results suggest a complex relationship between religion, and implicit and explicit prejudice. Both the religious affiliation of the perceiver and the perceived religious affiliation of the target are key factors in social perception. © 2014 Scandinavian Psychological Associations and John Wiley & Sons Ltd.

How implicit motives and everyday self-regulatory abilities shape cardiovascular risk in youth.

PubMed

Ewart, Craig K; Elder, Gavin J; Smyth, Joshua M

2012-06-01

Tested hypotheses from social action theory that (a) implicit and explicit measures of agonistic (social control) motives and transcendence (self-control) motives differentially predict cardiovascular risk; and (b) implicit motives interact with everyday self-regulation behaviors to magnify risk. Implicit/explicit agonistic/transcendence motives were assessed in a multi-ethnic sample of 64 high school students with the Social Competence Interview (SCI). Everyday self-regulation was assessed with teacher ratings of internalizing, externalizing, and self-control behaviors. Ambulatory blood pressure and daily activities were measured over 48 h. Study hypotheses were supported: implicit goals predicted blood pressure levels but explicit self-reported coping goals did not; self-regulation indices did not predict blood pressure directly but interacted with implicit agonistic/transcendence motives to identify individuals at greatest risk (all p ≤ 0.05). Assessment of implicit motives by SCI, and everyday self-regulation by teachers may improve identification of youth at risk for cardiovascular disease.

Implicit Coupling Approach for Simulation of Charring Carbon Ablators

NASA Technical Reports Server (NTRS)

Chen, Yih-Kanq; Gokcen, Tahir

2013-01-01

This study demonstrates that coupling of a material thermal response code and a flow solver with nonequilibrium gas/surface interaction for simulation of charring carbon ablators can be performed using an implicit approach. The material thermal response code used in this study is the three-dimensional version of Fully Implicit Ablation and Thermal response program, which predicts charring material thermal response and shape change on hypersonic space vehicles. The flow code solves the reacting Navier-Stokes equations using Data Parallel Line Relaxation method. Coupling between the material response and flow codes is performed by solving the surface mass balance in flow solver and the surface energy balance in material response code. Thus, the material surface recession is predicted in flow code, and the surface temperature and pyrolysis gas injection rate are computed in material response code. It is demonstrated that the time-lagged explicit approach is sufficient for simulations at low surface heating conditions, in which the surface ablation rate is not a strong function of the surface temperature. At elevated surface heating conditions, the implicit approach has to be taken, because the carbon ablation rate becomes a stiff function of the surface temperature, and thus the explicit approach appears to be inappropriate resulting in severe numerical oscillations of predicted surface temperature. Implicit coupling for simulation of arc-jet models is performed, and the predictions are compared with measured data. Implicit coupling for trajectory based simulation of Stardust fore-body heat shield is also conducted. The predicted stagnation point total recession is compared with that predicted using the chemical equilibrium surface assumption

Foreign Languages Sound Fast: Evidence from Implicit Rate Normalization.

PubMed

Bosker, Hans Rutger; Reinisch, Eva

2017-01-01

Anecdotal evidence suggests that unfamiliar languages sound faster than one's native language. Empirical evidence for this impression has, so far, come from explicit rate judgments. The aim of the present study was to test whether such perceived rate differences between native and foreign languages (FLs) have effects on implicit speech processing. Our measure of implicit rate perception was "normalization for speech rate": an ambiguous vowel between short /a/ and long /a:/ is interpreted as /a:/ following a fast but as /a/ following a slow carrier sentence. That is, listeners did not judge speech rate itself; instead, they categorized ambiguous vowels whose perception was implicitly affected by the rate of the context. We asked whether a bias towards long /a:/ might be observed when the context is not actually faster but simply spoken in a FL. A fully symmetrical experimental design was used: Dutch and German participants listened to rate matched (fast and slow) sentences in both languages spoken by the same bilingual speaker. Sentences were followed by non-words that contained vowels from an /a-a:/ duration continuum. Results from Experiments 1 and 2 showed a consistent effect of rate normalization for both listener groups. Moreover, for German listeners, across the two experiments, foreign sentences triggered more /a:/ responses than (rate matched) native sentences, suggesting that foreign sentences were indeed perceived as faster. Moreover, this FL effect was modulated by participants' ability to understand the FL: those participants that scored higher on a FL translation task showed less of a FL effect. However, opposite effects were found for the Dutch listeners. For them, their native rather than the FL induced more /a:/ responses. Nevertheless, this reversed effect could be reduced when additional spectral properties of the context were controlled for. Experiment 3, using explicit rate judgments, replicated the effect for German but not Dutch listeners. We therefore conclude that the subjective impression that FLs sound fast may have an effect on implicit speech processing, with implications for how language learners perceive spoken segments in a FL.

Effects of the NMDA receptor antagonists dizocilpine and Ro 63-1908 on delay-discounting and risky decision-making in a gambling task.

PubMed

Higgins, Guy A; Silenieks, Leo B; MacMillan, Cam; Zeeb, Fiona D; Thevarkunnel, Sandy

2018-04-22

Previous studies demonstrated that NMDA receptor antagonists such as dizocilpine (MK801) and the GluN2B NMDA antagonist Ro 63-1908 promote impulsive action (motor impulsivity). The effects of these treatments on impulsive choice and decision-making is less well characterized. Two experiments were undertaken. In the first experiment, given evidence for delay order as a factor in choice selection, the effect of dizocilpine was examined in a delay discounting task with separate groups of male Long-Evans rats trained to a schedule of either ascending (i.e. 0-40 s), or descending delays (i.e. 40-0 s). Under the ascending-delay schedule, dizocilpine (0.03-0.06 mg/kg SC) reduced discounting, yet on the descending-delay schedule discounting was increased. Subgrouping rats according to discounting rate under vehicle pretreatment were consistent with a treatment-induced choice perseveration. In a second experiment, male Long-Evans rats were trained to a gambling task (rGT). Neither dizocilpine (0.01-0.06 mg/kg SC) nor Ro 63-1908 (0.1-1 mg/kg SC) shifted choice from the advantageous to the disadvantageous options. However dizocilpine, and marginally Ro 63-1908, increased choice of the least risky, but suboptimal option. This effect was most evident in rats that initially preferred the disadvantageous options. Consistent with previous studies, both treatments increased measures of motor impulsivity. These results demonstrate that dizocilpine has effects on discounting dependent on delay order and likely reflective of perseveration. On the rGT task, neither dizocilpine nor Ro 63-1908 promoted risky choice, yet both NMDA receptor antagonists increased impulsive action. Copyright © 2018 Elsevier B.V. All rights reserved.

[Verification of the double dissociation model of shyness using the implicit association test].

PubMed

Fujii, Tsutomu; Aikawa, Atsushi

2013-12-01

The "double dissociation model" of shyness proposed by Asendorpf, Banse, and Mtücke (2002) was demonstrated in Japan by Aikawa and Fujii (2011). However, the generalizability of the double dissociation model of shyness was uncertain. The present study examined whether the results reported in Aikawa and Fujii (2011) would be replicated. In Study 1, college students (n = 91) completed explicit self-ratings of shyness and other personality scales. In Study 2, forty-eight participants completed IAT (Implicit Association Test) for shyness, and their friends (n = 141) rated those participants on various personality scales. The results revealed that only the explicit self-concept ratings predicted other-rated low praise-seeking behavior, sociable behavior and high rejection-avoidance behavior (controlled shy behavior). Only the implicit self-concept measured by the shyness IAT predicted other-rated high interpersonal tension (spontaneous shy behavior). The results of this study are similar to the findings of the previous research, which supports generalizability of the double dissociation model of shyness.

12 CFR 617.7125 - How should a qualified lender determine the effective interest rate?

Code of Federal Regulations, 2012 CFR

2012-01-01

... a loan using the discounted cash flow method showing the effect of the time value of money. (b) For all loans, the cash flow stream used for calculating the effective interest rate of a loan must...

12 CFR 617.7125 - How should a qualified lender determine the effective interest rate?

Code of Federal Regulations, 2014 CFR

2014-01-01

... a loan using the discounted cash flow method showing the effect of the time value of money. (b) For all loans, the cash flow stream used for calculating the effective interest rate of a loan must...

12 CFR 617.7125 - How should a qualified lender determine the effective interest rate?

Code of Federal Regulations, 2011 CFR

2011-01-01

... a loan using the discounted cash flow method showing the effect of the time value of money. (b) For all loans, the cash flow stream used for calculating the effective interest rate of a loan must...

12 CFR 617.7125 - How should a qualified lender determine the effective interest rate?

Code of Federal Regulations, 2013 CFR

2013-01-01

... a loan using the discounted cash flow method showing the effect of the time value of money. (b) For all loans, the cash flow stream used for calculating the effective interest rate of a loan must...

Notes on Discounting

ERIC Educational Resources Information Center

Rachlin, Howard

2006-01-01

In general, if a variable can be expressed as a function of its own maximum value, that function may be called a discount function. Delay discounting and probability discounting are commonly studied in psychology, but memory, matching, and economic utility also may be viewed as discounting processes. When they are so viewed, the discount function…

The impact of virtual reality on implicit racial bias and mock legal decisions.

PubMed

Salmanowitz, Natalie

2018-05-01

Implicit racial biases are one of the most vexing problems facing current society. These split-second judgments are not only widely prevalent, but also are notoriously difficult to overcome. Perhaps most concerning, implicit racial biases can have consequential impacts on decisions in the courtroom, where scholars have been unable to provide a viable mitigation strategy. This article examines the influence of a short virtual reality paradigm on implicit racial biases and evaluations of legal scenarios. After embodying a black avatar in the virtual world, participants produced significantly lower implicit racial bias scores than those who experienced a sham version of the virtual reality paradigm. Additionally, these participants more conservatively evaluated an ambiguous legal case, rating vague evidence as less indicative of guilt and rendering more Not Guilty verdicts. As the first experiment of its kind, this study demonstrates the potential of virtual reality to address implicit racial bias in the courtroom setting.

Delay, probability, and social discounting in a public goods game.

PubMed

Jones, Bryan A; Rachlin, Howard

2009-01-01

A human social discount function measures the value to a person of a reward to another person at a given social distance. Just as delay discounting is a hyperbolic function of delay, and probability discounting is a hyperbolic function of odds-against, social discounting is a hyperbolic function of social distance. Experiment 1 obtained individual social, delay, and probability discount functions for a hypothetical $75 reward; participants also indicated how much of an initial $100 endowment they would contribute to a common investment in a public good. Steepness of discounting correlated, across participants, among all three discount dimensions. However, only social and probability discounting were correlated with the public-good contribution; high public-good contributors were more altruistic and also less risk averse than low contributors. Experiment 2 obtained social discount functions with hypothetical $75 rewards and delay discount functions with hypothetical $1,000 rewards, as well as public-good contributions. The results replicated those of Experiment 1; steepness of the two forms of discounting correlated with each other across participants but only social discounting correlated with the public-good contribution. Most participants in Experiment 2 predicted that the average contribution would be lower than their own contribution.

Texting while driving as impulsive choice: A behavioral economic analysis

PubMed Central

Hayashi, Yusuke; Russo, Christopher T.; Wirth, Oliver

2015-01-01

The goal of the present study was to examine the utility of a behavioral economic analysis to investigate the role of delay discounting in texting while driving. A sample of 147 college students completed a survey to assess how frequently they send and read text messages while driving. Based on this information, students were assigned to one of two groups: 19 students who frequently text while driving and 19 matched-control students who infrequently text while driving but were similar in gender, age, years of education, and years driving. The groups were compared on the extent to which they discounted, or devalued, delayed hypothetical monetary rewards using a delay-discounting task. In this task, students made repeated choices between $1000 available after a delay (ranging from 1 week to 10 years) and an equal or lesser amount of money available immediately. The results show that the students who frequently text while driving discounted delayed rewards at a greater rate than the matched control students. The study supports the conclusions that texting while driving is fundamentally an impulsive choice made by drivers, and that a behavioral economic approach may be a useful research tool for investigating the decision-making processes underlying risky behaviors. PMID:26280804

12 CFR 327.7 - Payment of interest on assessment underpayments and overpayments.

Code of Federal Regulations, 2010 CFR

2010-01-01

... October, respectively, is the coupon equivalent yield of the average discount rate set on the 3-month... underpayment or overpayment of an assessment shall accrue interest at the relevant interest rate. (ii) Interest... discharged. (iii) The relevant interest rate shall be redetermined for each quarterly assessment interval. A...

75 FR 65710 - Current Value of Funds Rate

Federal Register 2010, 2011, 2012, 2013, 2014

2010-10-26

.... Treasury's Cash Management Requirements (TFM Volume I, Part 6, Chapter 8000) prescribe use of this rate by agencies as a comparison point in evaluating the cost-effectiveness of a cash discount. In addition, 5 CFR... with Federal Cash Management systems and is based on investment rates set for purposes of Public Law 95...

The Discount Rate for Defense Decisionmaking: Some New Considerations,

DTIC Science & Technology

1978-11-01

the pre- corporate - income - tax cost of capital. Stockfisch calculates the pre-tax rate of return in several corporate sectors and takes a weighted average...economists assume 100 percent shifting of the corporate income tax , so if the corporate income tax is 50 percent, then the rate of return in the

All About the E-Rate.

ERIC Educational Resources Information Center

Ravenaugh, Mickey

1999-01-01

The Universal Service Fund for Schools and Libraries, or "E-Rate," is a cooperative business/government program allowing needy public schools and libraries a 20 to 90% discount on new telecommunications technologies. Schools must have technology plans, complete various forms, and contact participating vendors to determine appropriate…

Determination of the optimal sample size for a clinical trial accounting for the population size.

PubMed

Stallard, Nigel; Miller, Frank; Day, Simon; Hee, Siew Wan; Madan, Jason; Zohar, Sarah; Posch, Martin

2017-07-01

The problem of choosing a sample size for a clinical trial is a very common one. In some settings, such as rare diseases or other small populations, the large sample sizes usually associated with the standard frequentist approach may be infeasible, suggesting that the sample size chosen should reflect the size of the population under consideration. Incorporation of the population size is possible in a decision-theoretic approach either explicitly by assuming that the population size is fixed and known, or implicitly through geometric discounting of the gain from future patients reflecting the expected population size. This paper develops such approaches. Building on previous work, an asymptotic expression is derived for the sample size for single and two-arm clinical trials in the general case of a clinical trial with a primary endpoint with a distribution of one parameter exponential family form that optimizes a utility function that quantifies the cost and gain per patient as a continuous function of this parameter. It is shown that as the size of the population, N, or expected size, N∗ in the case of geometric discounting, becomes large, the optimal trial size is O(N1/2) or O(N∗1/2). The sample size obtained from the asymptotic expression is also compared with the exact optimal sample size in examples with responses with Bernoulli and Poisson distributions, showing that the asymptotic approximations can also be reasonable in relatively small sample sizes. © 2016 The Author. Biometrical Journal published by WILEY-VCH Verlag GmbH & Co. KGaA, Weinheim.

The effect of future time perspective on delay discounting is mediated by the gray matter volume of vmPFC.

PubMed

Guo, Yiqun; Chen, Zhiyi; Feng, Tingyong

2017-07-28

Although several previous studies have shown that individuals' attitude towards time could affect their intertemporal preference, little is known about the neural basis of the relation between time perspective (TP) and delay discounting. In the present study, we quantified the gray matter (GM) cortical volume using voxel-based morphometry (VBM) methods to investigate the effect of TP on delay discounting (DD) across two independent samples. For group 1 (102 healthy college students; 46 male; 20.40 ± 1.87 years), behavioral results showed that only Future TP was a significant predictor of DD, and higher scores on Future TP were related to lower discounting rates. Whole-brain analysis revealed that steeper discounting correlated with greater GM volume in the ventromedial prefrontal cortex (vmPFC) and ventral part of posterior cingulate cortex (vPCC). Also, GM volume of a cluster in the vmPFC was correlated with Future TP. Interestingly, there was an overlapping region in vmPFC that was correlated with both DD and Future TP. Region-of-interest analysis further indicated that the overlapping region of vmPFC played a partially mediating role in the relation between Future TP and DD in the other independent dataset (Group 2, 36 healthy college students; 14 male; 20.18±1.80 years). Taken together, our results provide a new perspective from neural basis for explaining the relation between DD and future TP. Copyright © 2017 Elsevier Ltd. All rights reserved.

Act No. 18 of 7 August 1989 amending Articles 1 and 4 of and adding a new article to Act No. 6 of 1987.

PubMed

1989-01-01

This Act provides the following benefits to all Panamanians and foreigners resident in Panama who have reached the age of 55, if women, and 60, if men, as well as to those who are pensioned and those retired because of disability: 1) a 50% discount on recreation and entertainment activities; 2) a public transportation discount ranging from 25 to 30%; 3) a lodging discount of 50% during the week and 30% on weekends; 4) a 25% discount on restaurants of the 1st and 2nd class; 5) a 15% discount in fast food establishments that are part of a national or international franchise; 6) a 10% discount in private hospitals and clinics when the person does not have hospital insurance; 7) a 10% discount on prescription medicines; 8) a 20% discount on general medical consultations and a 10% discount on dental, optometry, ophthalmology, cardiology, psychiatric and psychological, geriatric, and surgical services; 9) a 10% discount on technical and professional services, including legal, architectural, physiotherapy, and nursing services; 10) a 10% discount on prostheses; 11) a 50% discount on expenses and commissions related to financial, banking, and credit transactions; 12) a 15% discount on the maximum interest on personal and commercial loans; 13) a reduction of 1 percentage point in the interest on personal housing loans; 14) the freezing of the property tax on a personal home, as long as that home is the person's only property; 15) exemption from payment of the appraisal fee due on the transfer of property under the same circumstances as in 14 above; 16) a 50% discount on passports; 17) a 25% discount on electric bills under certain circumstances; and 18) a 50% discount on airport taxes or fees.

The Value of Clean Air: Comparing Discounting of Delayed Air Quality and Money Across Magnitudes.

PubMed

Berry, Meredith S; Friedel, Jonathan E; DeHart, William B; Mahamane, Salif; Jordan, Kerry E; Odum, Amy L

2017-06-01

The detrimental health effects of exposure to air pollution are well established. Fostering behavioral change concerning air quality may be challenging because the detrimental health effects of exposure to air pollution are delayed. Delay discounting, a measure of impulsive choice, encapsulates this process of choosing between the immediate conveniences of behaviors that increase pollution and the delayed consequences of prolonged exposure to poor air quality. In Experiment 1, participants completed a series of delay-discounting tasks for air quality and money. We found that participants discounted delayed air quality more than money. In Experiment 2, we investigated whether the common finding that large amounts of money are discounted less steeply than small amounts of money generalized to larger and smaller improvements in air quality. Participants discounted larger improvements in air quality less steeply than smaller improvements, indicating that the discounting of air quality shares a similar process as the discounting of money. Our results indicate that the discounting of delayed money is strongly related to the discounting of delayed air quality and that similar mechanisms may be involved in the discounting of these qualitatively different outcomes. These data are also the first to demonstrate the malleability of delay discounting of air quality, and provide important public health implications for decreasing delay discounting of air quality.

Withdrawal-Related Changes in Delay Discounting Predict Short-Term Smoking Abstinence.

PubMed

Miglin, Rickie; Kable, Joseph W; Bowers, Maureen E; Ashare, Rebecca L

2017-06-01

Impulsive decision making is associated with smoking behavior and reflects preferences for smaller, immediate rewards and intolerance of temporal delays. Nicotine withdrawal may alter impulsive decision making and time perception. However, little is known about whether withdrawal-related changes in decision making and time perception predict smoking relapse. Forty-five smokers (14 female) completed two laboratory sessions, one following 24-hour abstinence and one smoking-as-usual (order counterbalanced; biochemically verified abstinence). During each visit, participants completed measures of time perception, decision making (ie, discount rates), craving, and withdrawal. Following the second laboratory session, subjects underwent a well-validated model of short-term abstinence (quit week) with small monetary incentives for each day of biochemically confirmed abstinence. Smokers significantly overestimated time during abstinence, compared to smoking-as-usual (p = .021), but there were no abstinence effects on discount rates (p = .6). During the quit week, subjects were abstinent for 3.5 days (SD = 2.15) and smoked a total of 12.9 cigarettes (SD = 15.8). Importantly, higher discount rates (ie, preferences for immediate rewards) during abstinence (abstinence minus smoking difference score) predicted greater number of days abstinent (p = .01) and fewer cigarettes smoked during the quit week (p = .02). Withdrawal-related change in time reproduction did not predict relapse (p = .2). These data suggest that individuals who have a greater preference for immediate rewards during abstinence (vs. smoking-as-usual) may be more successful at maintaining short-term abstinence when provided with frequent (eg, daily) versus less frequent incentive schedules (eg, 1 month). Abstinence-induced changes in decision making may be important for identifying smokers who may benefit from interventions that incentivize abstinence such as contingency management (CM). The present results suggest that smokers who place greater subjective value on immediate rewards during withdrawal (compared to smoking-as-usual) may be less likely to relapse if offered small, frequent monetary incentives to maintain abstinence. Thus, the current findings may have important implications for identifying smokers most likely to benefit from particular interventions such as CM. Future research might evaluate whether withdrawal-related changes in delay discounting moderate treatment response to different incentive schedules with the goal of optimizing CM effectiveness to improve abstinence rates. © The Author 2017. Published by Oxford University Press on behalf of the Society for Research on Nicotine and Tobacco. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com.

Defensive function of persecutory delusion and discrepancy between explicit and implicit self-esteem in schizophrenia: study using the Brief Implicit Association Test

PubMed Central

Nakamura, Mitsuo; Hayakawa, Tomomi; Okamura, Aiko; Kohigashi, Mutsumi; Fukui, Kenji; Narumoto, Jin

2015-01-01

Background If delusions serve as a defense mechanism in schizophrenia patients with paranoia, then they should show normal or high explicit self-esteem and low implicit self-esteem. However, the results of previous studies are inconsistent. One possible explanation for this inconsistency is that there are two types of paranoia, “bad me” (self-blaming) paranoia and “poor me” (non-self-blaming) paranoia. We thus examined implicit and explicit self-esteem and self-blaming tendency in patients with schizophrenia and schizoaffective disorder. We hypothesized that patients with paranoia would show lower implicit self-esteem and only those with non-self-blaming paranoia would experience a discrepancy between explicit and implicit self-esteem. Methods Participants consisted of patients with schizophrenia and schizoaffective disorder recruited from a day hospital (N=71). Participants were assessed for psychotic symptoms, using the Brief Psychiatric Rating Scale (BPRS), and self-blaming tendency, using the brief COPE. We also assessed explicit self-esteem, using the Rosenberg Self-Esteem Scale (RSES), implicit self-esteem, using Brief Implicit Association Test (BIAT), and discrepancy between explicit and implicit self-esteem. Results Contrary to our hypothesis, implicit self-esteem in paranoia and nonparanoia showed no statistical difference. As expected, only patients with non-self-blaming paranoia experienced a discrepancy between explicit and implicit self-esteem; other groups showed no such discrepancy. Conclusion These results suggest that persecutory delusion plays a defensive role in non-self-blaming paranoia. PMID:25565849

Implicit methods for the Navier-Stokes equations

NASA Technical Reports Server (NTRS)

Yoon, S.; Kwak, D.

1990-01-01

Numerical solutions of the Navier-Stokes equations using explicit schemes can be obtained at the expense of efficiency. Conventional implicit methods which often achieve fast convergence rates suffer high cost per iteration. A new implicit scheme based on lower-upper factorization and symmetric Gauss-Seidel relaxation offers very low cost per iteration as well as fast convergence. High efficiency is achieved by accomplishing the complete vectorizability of the algorithm on oblique planes of sweep in three dimensions.

77 FR 33167 - Citric Acid and Certain Citrate Salts From the People's Republic of China: Preliminary Results of...

Federal Register 2010, 2011, 2012, 2013, 2014

2012-06-05

... to the short- and medium-term rates to convert them to long- term rates using Bloomberg U.S... derivation of the benchmark and discount rates used to value these subsidies is discussed below. Short-Term... inflation-adjusted short-term benchmark rate, we have also excluded any countries with aberrational or...

Nonadiabatic dynamics of electron transfer in solution: Explicit and implicit solvent treatments that include multiple relaxation time scales

DOE Office of Scientific and Technical Information (OSTI.GOV)

Schwerdtfeger, Christine A.; Soudackov, Alexander V.; Hammes-Schiffer, Sharon, E-mail: shs3@illinois.edu

2014-01-21

The development of efficient theoretical methods for describing electron transfer (ET) reactions in condensed phases is important for a variety of chemical and biological applications. Previously, dynamical dielectric continuum theory was used to derive Langevin equations for a single collective solvent coordinate describing ET in a polar solvent. In this theory, the parameters are directly related to the physical properties of the system and can be determined from experimental data or explicit molecular dynamics simulations. Herein, we combine these Langevin equations with surface hopping nonadiabatic dynamics methods to calculate the rate constants for thermal ET reactions in polar solvents formore » a wide range of electronic couplings and reaction free energies. Comparison of explicit and implicit solvent calculations illustrates that the mapping from explicit to implicit solvent models is valid even for solvents exhibiting complex relaxation behavior with multiple relaxation time scales and a short-time inertial response. The rate constants calculated for implicit solvent models with a single solvent relaxation time scale corresponding to water, acetonitrile, and methanol agree well with analytical theories in the Golden rule and solvent-controlled regimes, as well as in the intermediate regime. The implicit solvent models with two relaxation time scales are in qualitative agreement with the analytical theories but quantitatively overestimate the rate constants compared to these theories. Analysis of these simulations elucidates the importance of multiple relaxation time scales and the inertial component of the solvent response, as well as potential shortcomings of the analytical theories based on single time scale solvent relaxation models. This implicit solvent approach will enable the simulation of a wide range of ET reactions via the stochastic dynamics of a single collective solvent coordinate with parameters that are relevant to experimentally accessible systems.« less

A lower bound to the social cost of CO2 emissions

NASA Astrophysics Data System (ADS)

van den Bergh, J. C. J. M.; Botzen, W. J. W.

2014-04-01

Many studies have estimated the social cost of carbon (SCC). We critically evaluate SCC estimates, focusing on omitted cost categories, discounting, uncertainties about damage costs and risk aversion. This allows for the calculation of a lower bound to the SCC. Dominant SCC values turn out to be gross underestimates, notably, but not only, for a low discount rate. The validity of this lower bound is supported by a precautionary approach to reflect risk aversion against extreme climate change. The results justify a more stringent climate policy than is suggested by most influential past studies.

The Value of Clean Air: Comparing Discounting of Delayed Air Quality and Money Across Magnitudes

PubMed Central

Friedel, Jonathan E.; DeHart, William B.; Mahamane, Salif; Jordan, Kerry E.; Odum, Amy L.

2018-01-01

The detrimental health effects of exposure to air pollution are well established. Fostering behavioral change concerning air quality may be challenging because the detrimental health effects of exposure to air pollution are delayed. Delay discounting, a measure of impulsive choice, encapsulates this process of choosing between the immediate conveniences of behaviors that increase pollution and the delayed consequences of prolonged exposure to poor air quality. In Experiment 1, participants completed a series of delay-discounting tasks for air quality and money. We found that participants discounted delayed air quality more than money. In Experiment 2, we investigated whether the common finding that large amounts of money are discounted less steeply than small amounts of money generalized to larger and smaller improvements in air quality. Participants discounted larger improvements in air quality less steeply than smaller improvements, indicating that the discounting of air quality shares a similar process as the discounting of money. Our results indicate that the discounting of delayed money is strongly related to the discounting of delayed air quality and that similar mechanisms may be involved in the discounting of these qualitatively different outcomes. These data are also the first to demonstrate the malleability of delay discounting of air quality, and provide important public health implications for decreasing delay discounting of air quality. PMID:29606776

Eating on impulse: Implicit attitudes, self-regulatory resources, and trait self-control as determinants of food consumption.

PubMed

Wang, Yan; Wang, Lei; Cui, Xianghua; Fang, Yuan; Chen, Qianqiu; Wang, Ya; Qiang, Yao

2015-12-01

Self-regulatory resources and trait self-control have been found to moderate the impulse-behavior relationship. The current study investigated whether the interaction of self-regulatory resources and trait self-control moderates the association between implicit attitudes and food consumption. One hundred twenty female participants were randomly assigned to either a depletion condition in which their self-regulatory resources were reduced or a no-depletion condition. Participants' implicit attitudes for chocolate were measured with the Single Category Implicit Association Test and self-report measures of trait self-control were collected. The dependent variable was chocolate consumption in an ostensible taste and rate task. Implicit attitudes predicted chocolate consumption in depleted participants but not in non-depleted participants. However, this predictive power of implicit attitudes on eating in depleted condition disappeared in participants with high trait self-control. Thus, trait self-control and self-regulatory resources interact to moderate the prediction of implicit attitude on eating behavior. Results suggest that high trait self-control buffers the effect of self-regulatory depletion on impulsive eating. Copyright © 2015 Elsevier Ltd. All rights reserved.

The effect of presentation rate on implicit sequence learning in aging.

PubMed

Foster, Chris M; Giovanello, Kelly S

2017-02-01

Implicit sequence learning is thought to be preserved in aging when the to-be learned associations are first-order; however, when associations are second-order, older adults (OAs) tend to experience deficits as compared to young adults (YAs). Two experiments were conducted using a first (Experiment 1) and second-order (Experiment 2) serial-reaction time task. Stimuli were presented at a constant rate of either 800 milliseconds (fast) or 1200 milliseconds (slow). Results indicate that both age groups learned first-order dependencies equally in both conditions. OAs and YAs also learned second-order dependencies, but the learning of lag-2 information was significantly impacted by the rate of presentation for both groups. OAs showed significant lag-2 learning in slow condition while YAs showed significant lag-2 learning in the fast condition. The sensitivity of implicit sequence learning to the rate of presentation supports the idea that OAs and YAs different processing speeds impact the ability to build complex associations across time and intervening events.

Effects of timbre and tempo change on memory for music.

PubMed

Halpern, Andrea R; Müllensiefen, Daniel

2008-09-01

We investigated the effects of different encoding tasks and of manipulations of two supposedly surface parameters of music on implicit and explicit memory for tunes. In two experiments, participants were first asked to either categorize instrument or judge familiarity of 40 unfamiliar short tunes. Subsequently, participants were asked to give explicit and implicit memory ratings for a list of 80 tunes, which included 40 previously heard. Half of the 40 previously heard tunes differed in timbre (Experiment 1) or tempo (Experiment 2) in comparison with the first exposure. A third experiment compared similarity ratings of the tunes that varied in timbre or tempo. Analysis of variance (ANOVA) results suggest first that the encoding task made no difference for either memory mode. Secondly, timbre and tempo change both impaired explicit memory, whereas tempo change additionally made implicit tune recognition worse. Results are discussed in the context of implicit memory for nonsemantic materials and the possible differences in timbre and tempo in musical representations.

46 CFR 298.36 - Guarantee Fee.

Code of Federal Regulations, 2010 CFR

2010-10-01

... discount rate based on information contained in the President's most recently submitted budget. (2) The... § 298.36 Guarantee Fee. (a) Rates in general. (1) For annual periods, beginning with the date of the... Guarantee Fee set at a rate of not less than 1/4 of 1 percent and not more than 1/2 of 1 percent of the...

A Benefit Cost Analysis of the South Carolina MDTA Program. Preliminary Report.

ERIC Educational Resources Information Center

South Carolina Univ., Columbia. Bureau of Business and Economic Research.

Manpower Development and Training Act (MDTA) programs completed in 1965 were evaluated by benefit-cost ratio and internal rate of return. Initial annual earnings differential figures at $525,650 and $719,629 were projected into the future at various rates of promotion and various rates of discount on the benefit stream. Resulting lifetime benefits…

Rate Your Risk Quiz

MedlinePlus

... NKF Online Communities Featured Story Want to save money on your prescriptions? Introducing a new discount card ... Events and Galas Spring Clinical Meetings KEEP Healthy - Free Kidney Health checks Your Kidneys and You Meetings ...

Managing breaches of containment and eradication of invasive plant populations.

PubMed

Fletcher, Cameron S; Westcott, David A; Murphy, Helen T; Grice, Anthony C; Clarkson, John R

2015-02-01

Containment can be a viable strategy for managing invasive plants, but it is not always cheaper than eradication. In many cases, converting a failed eradication programme to a containment programme is not economically justified. Despite this, many contemporary invasive plant management strategies invoke containment as a fallback for failed eradication, often without detailing how containment would be implemented.We demonstrate a generalized analysis of the costs of eradication and containment, applicable to any plant invasion for which infestation size, dispersal distance, seed bank lifetime and the economic discount rate are specified. We estimate the costs of adapting eradication and containment in response to six types of breach and calculate under what conditions containment may provide a valid fallback to a breached eradication programme.We provide simple, general formulae and plots that can be applied to any invasion and show that containment will be cheaper than eradication only when the size of the occupied zone exceeds a multiple of the dispersal distance determined by seed bank longevity and the discount rate. Containment becomes proportionally cheaper than eradication for invaders with smaller dispersal distances, longer lived seed banks, or for larger discount rates.Both containment and eradication programmes are at risk of breach. Containment is less exposed to risk from reproduction in the 'occupied zone' and three types of breach that lead to a larger 'occupied zone', but more exposed to one type of breach that leads to a larger 'buffer zone'.For a well-specified eradication programme, only the three types of breach leading to reproduction in or just outside the buffer zone can justify falling back to containment, and only if the expected costs of eradication and containment were comparable before the breach. Synthesis and applications . Weed management plans must apply a consistent definition of containment and provide sufficient implementation detail to assess its feasibility. If the infestation extent, dispersal capacity, seed bank longevity and economic discount rate are specified, the general results presented here can be used to assess whether containment can outperform eradication, and under what conditions it would provide a valid fallback to a breached eradication programme.

Managing breaches of containment and eradication of invasive plant populations

PubMed Central

Fletcher, Cameron S; Westcott, David A; Murphy, Helen T; Grice, Anthony C; Clarkson, John R

2015-01-01

Containment can be a viable strategy for managing invasive plants, but it is not always cheaper than eradication. In many cases, converting a failed eradication programme to a containment programme is not economically justified. Despite this, many contemporary invasive plant management strategies invoke containment as a fallback for failed eradication, often without detailing how containment would be implemented. We demonstrate a generalized analysis of the costs of eradication and containment, applicable to any plant invasion for which infestation size, dispersal distance, seed bank lifetime and the economic discount rate are specified. We estimate the costs of adapting eradication and containment in response to six types of breach and calculate under what conditions containment may provide a valid fallback to a breached eradication programme. We provide simple, general formulae and plots that can be applied to any invasion and show that containment will be cheaper than eradication only when the size of the occupied zone exceeds a multiple of the dispersal distance determined by seed bank longevity and the discount rate. Containment becomes proportionally cheaper than eradication for invaders with smaller dispersal distances, longer lived seed banks, or for larger discount rates. Both containment and eradication programmes are at risk of breach. Containment is less exposed to risk from reproduction in the ‘occupied zone’ and three types of breach that lead to a larger ‘occupied zone’, but more exposed to one type of breach that leads to a larger ‘buffer zone’. For a well-specified eradication programme, only the three types of breach leading to reproduction in or just outside the buffer zone can justify falling back to containment, and only if the expected costs of eradication and containment were comparable before the breach. Synthesis and applications. Weed management plans must apply a consistent definition of containment and provide sufficient implementation detail to assess its feasibility. If the infestation extent, dispersal capacity, seed bank longevity and economic discount rate are specified, the general results presented here can be used to assess whether containment can outperform eradication, and under what conditions it would provide a valid fallback to a breached eradication programme. PMID:25678718

76 FR 16816 - Agency Information Collection Activities: Proposed Collection, Comment Request

Federal Register 2010, 2011, 2012, 2013, 2014

2011-03-25

... comment and provide your total capital and startup cost components or annual operation, maintenance, and..., including system and technology acquisition, expected useful life of capital equipment, discount rate(s), and the period over which you incur costs. Capital and startup costs include, among other items...

Evolution of a Federal Policy on Educational Technology.

ERIC Educational Resources Information Center

Blaschke, Charles L.

1998-01-01

Discusses the educational technology policy and funding of the United States Department of Education from the 1960s to the present, including two current programs: the Technology Literacy Challenge Fund and telecommunications educational rate (E-rate) discounts. Future technology initiatives and critical factors impacting the future and are…

Domain-Specific Ratings of Importance and Global Self-Worth of Children with Visual Impairments

ERIC Educational Resources Information Center

Shapiro, Deborah R.; Moffett, Aaron; Lieberman, Lauren; Dummer, Gail M.

2008-01-01

This study examined perceived competence; ratings of importance of physical appearance, athletic competence, and social acceptance; discrepancy scores; and global self-worth of 43 children with visual impairments. The findings revealed that the children discounted the importance of physical appearance, athletic competence, and social acceptance…

26 CFR 25.2701-4 - Accumulated qualified payments.

Code of Federal Regulations, 2010 CFR

2010-04-01

... compound interest from the due date of the payment at a rate not less than the appropriate discount rate is... retained interest conferring a distribution right that was previously valued as a qualified payment right (a “qualified payment interest”), the taxable estate or taxable gifts of the individual holding the...

Benefit assessment in Germany: implications for price discounts.

PubMed

Theidel, Ulrike; von der Schulenburg, J-Matthias Graf

2016-12-01

The AMNOG regulation, introduced in 2011 in Germany, changed the game for new drugs. Now, the industry is required to submit a dossier to the GBA (the central decision body in the German sickness fund system) to show additional benefit. After granting the magnitude of the additional benefit by the GBA, the manufacturer is entitled to negotiate the reimbursement price with the GKV-SV (National Association of Statutory Health Insurance Funds). The reimbursement price is defined as a discount on the drug price at launch. As the price or discount negotiations between the manufacturers and the GKV-SV takes place behind closed doors, the factors influencing the results of the negotiation are not known. The aim of this evaluation is to identify factors influencing the results of the AMNOG price negotiation process. The analysis was based on a dataset containing detailed information on all assessments until the end of 2015. A descriptive analysis was followed by an econometric analysis of various potential factors (benefit rating, size of target population, deviating from appropriate comparative therapy and incorporation of HRQoL-data). Until December 2015, manufacturers and the GKV-SV finalized 96 negotiations in 193 therapeutic areas, based on assessment conducted by the GBA. The GBA has granted an additional benefit to 100/193 drug innovations. Negotiated discount was significantly higher for those drugs without additional benefit (p = 0.030) and non-orphan drugs (p = 0.015). Smaller population size, no deviation from recommended appropriate comparative therapy and the incorporation of HRQoL-data were associated with a lower discount on the price at launch. However, neither a uni- nor the multivariate linear regression showed enough power to predict the final discount. Although the AMNOG regulation implemented binding and strict rules for the benefit assessment itself, the outcome of the discount negotiations are still unpredictable. Obviously, negotiation tactics, the current political situation and soft factors seem to play a more influential role for the outcome of the negotiations than the five hard and known factors analyzed in this study. Further research is needed to evaluate additional factors.

The impact of virtual reality on implicit racial bias and mock legal decisions

PubMed Central

Salmanowitz, Natalie

2018-01-01

Abstract Implicit racial biases are one of the most vexing problems facing current society. These split-second judgments are not only widely prevalent, but also are notoriously difficult to overcome. Perhaps most concerning, implicit racial biases can have consequential impacts on decisions in the courtroom, where scholars have been unable to provide a viable mitigation strategy. This article examines the influence of a short virtual reality paradigm on implicit racial biases and evaluations of legal scenarios. After embodying a black avatar in the virtual world, participants produced significantly lower implicit racial bias scores than those who experienced a sham version of the virtual reality paradigm. Additionally, these participants more conservatively evaluated an ambiguous legal case, rating vague evidence as less indicative of guilt and rendering more Not Guilty verdicts. As the first experiment of its kind, this study demonstrates the potential of virtual reality to address implicit racial bias in the courtroom setting. PMID:29707220

The role of expression and race in weapons identification.

PubMed

Kubota, Jennifer T; Ito, Tiffany A

2014-12-01

Emotional expressions can signal intentions and so possess the power to moderate social inferences. Here, we test whether stereotypes implicitly elicited by a stigmatized racial outgroup member are moderated by facial expression. Participants classified pictures of guns and tools that were primed with pictures of Black and White male faces posing angry, happy, and neutral expressions. Across the 3 measures examined--response latencies, error rates, and automatic processing, facial expression modulated implicit stereotyping (Study 1, n = 71; Study 2, n = 166). A Black angry prime elicited implicit stereotyping, while a Black happy prime diminished implicit stereotyping. Responding after neutral primes varied as a function of the expression context. When viewed alongside more threatening expressions (Study 1), neutral Black targets no longer elicited implicit stereotyping, but when viewed alongside more threatening expressions (Study 2), neutral Black targets primed crime and danger-relevant stereotypes. These results demonstrate that an individual can activate different associations based on changes in emotional expression and that a feature present in many everyday encounters (a smile) attenuates implicit racial stereotyping.

Probability Discounting of Gains and Losses: Implications for Risk Attitudes and Impulsivity

ERIC Educational Resources Information Center

Shead, N. Will; Hodgins, David C.

2009-01-01

Sixty college students performed three discounting tasks: probability discounting of gains, probability discounting of losses, and delay discounting of gains. Each task used an adjusting-amount procedure, and participants' choices affected the amount and timing of their remuneration for participating. Both group and individual discounting…

How Many Impulsivities? A Discounting Perspective

ERIC Educational Resources Information Center

Green, Leonard; Myerson, Joel

2013-01-01

People discount the value of delayed and uncertain outcomes, and how steeply individuals discount is thought to reflect how impulsive they are. From this perspective, steep discounting of delayed outcomes (which fails to maximize long-term welfare) and shallow discounting of probabilistic outcomes (which fails to adequately take risk into account)…

7 CFR 1786.53 - Discounted present value.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 12 2010-01-01 2010-01-01 false Discounted present value. 1786.53 Section 1786.53... Special Discounted Prepayments on RUS Direct/Insured Loans § 1786.53 Discounted present value. The Discounted Present Value shall be calculated five business days before prepayment is made by summing the...

Discounting of qualitatively different delayed health outcomes in current and never smokers

PubMed Central

Friedel, Jonathan E.; DeHart, William B.; Frye, Charles C. J.; Rung, Jillian M.; Odum, Amy L.

2016-01-01

In delay discounting, temporally remote outcomes have less value. Cigarette smoking is associated with steeper discounting of money and consumable outcomes. It is presently unclear whether smokers discount health outcomes more than non-smokers. We sought to establish the generality of steep discounting for different types of health outcomes in cigarette smokers. Seventy participants (38 smokers and 32 non-smokers) completed four hypothetical outcome delay-discounting tasks: a gain of $500, a loss of $500, a temporary boost in health, and temporary cure from a debilitating disease. Participants reported the duration of each health outcome that would be equivalent to $500; these durations were then used in the respective discounting tasks. Delays ranged from 1 week to 25 years. Smokers’ indifference points for monetary gains, boosts in health, and temporary cures were lower than indifference points from non-smokers. Indifference points of one outcome were correlated with indifference points of other outcomes. Smokers demonstrate steeper discounting across a range of delayed outcomes. How a person discounts one outcome predicts how they will discount other outcomes. These two findings support our assertion that delay discounting is in part a trait. PMID:26691848

Status Report and Update on the E-Rate: Providing Schools and Libraries with Affordable Access to the Information Superhighway.

ERIC Educational Resources Information Center

Department of Education, Washington, DC. Office of Educational Technology.

This document provides a fact sheet, status report, and questions and answers about E-Rate, the discount Educational Rate that schools and libraries will receive for the acquisition of telecommunication services. E-Rate is the result of a regulatory decision on Universal Service made by the Federal Communications Commission (FCC) on May 7, 1997.…

76 FR 48130 - Certain Pasta From Italy: Preliminary Results of the 14th (2009) Countervailing Duty...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-08-08

... rate versus variable interest rate), the maturity of the loan (e.g., short-term versus long-term), and... were received. Benchmarks for Long-Term Loans and Discount Rates Pursuant to 19 CFR 351.505(a), the... using the national average cost of long-term, fixed-rate loans pursuant to 19 CFR 351.524(d)(3)(B...

Incentivizing wellness in the workplace: sticks (not carrots) send stigmatizing signals.

PubMed

Tannenbaum, David; Valasek, Chad J; Knowles, Eric D; Ditto, Peter H

2013-08-01

Companies often provide incentives for employees to maintain healthy lifestyles. These incentives can take the form of either discounted premiums for healthy-weight employees ("carrot" policies) or increased premiums for overweight employees ("stick" policies). In the three studies reported here, we demonstrated that even when stick and carrot policies are formally equivalent, they do not necessarily convey the same information to employees. Stick but not carrot policies were viewed as reflecting negative company attitudes toward overweight employees (Study 1a) and were evaluated especially negatively by overweight participants (Study 1b). This was true even when overweight employees paid less money under the stick than under the carrot policy. When acting as policymakers (Study 2), participants with high levels of implicit overweight bias were especially likely to choose stick policies-often on the grounds that such policies were cost-effective-even when doing so was more costly to the company. Policymakers should realize that the framing of incentive programs can convey tacit, and sometimes stigmatizing, messages.

Burden of suicide in Poland in 2012: how could it be measured and how big is it?

PubMed

Orlewska, Katarzyna; Orlewska, Ewa

2018-04-01

The aim of our study was to estimate the health-related and economic burden of suicide in Poland in 2012 and to demonstrate the effects of using different assumptions on the disease burden estimation. Years of life lost (YLL) were calculated by multiplying the number of deaths by the remaining life expectancy. Local expected YLL (LEYLL) and standard expected YLL (SEYLL) were computed using Polish life expectancy tables and WHO standards, respectively. In the base case analysis LEYLL and SEYLL were computed with 3.5 and 0% discount rates, respectively, and no age-weighting. Premature mortality costs were calculated using a human capital approach, with discounting at 5%, and are reported in Polish zloty (PLN) (1 euro = 4.3 PLN). The impact of applying different assumptions on base-case estimates was tested in sensitivity analyses. The total LEYLLs and SEYLLs due to suicide were 109,338 and 279,425, respectively, with 88% attributable to male deaths. The cost of male premature mortality (2,808,854,532 PLN) was substantially higher than for females (177,852,804 PLN). Discounting and age-weighting have a large effect on the base case estimates of LEYLLs. The greatest impact on the estimates of suicide-related premature mortality costs was due to the value of the discount rate. Our findings provide quantitative evidence on the burden of suicide. In our opinion each of the demonstrated methods brings something valuable to the evaluation of the impact of suicide on a given population, but LEYLLs and premature mortality costs estimated according to national guidelines have the potential to be useful for local public health policymakers.

Real and hypothetical rewards

PubMed Central

Locey, Matthew L.; Jones, Bryan A.; Rachlin, Howard

2012-01-01

Laboratory studies of choice and decision making among real monetary rewards typically use smaller real rewards than those common in real life. When laboratory rewards are large, they are almost always hypothetical. In applying laboratory results meaningfully to real-life situations, it is important to know the extent to which choices among hypothetical rewards correspond to choices among real rewards and whether variation of the magnitude of hypothetical rewards affects behavior in meaningful ways. The present study compared real and hypothetical monetary rewards in two experiments. In Experiment 1, participants played a temporal discounting game that incorporates the logic of a repeated prisoner’s-dilemma (PD) type game versus tit-for-tat; choice of one alternative (“defection” in PD terminology) resulted in a small-immediate reward; choice of the other alternative (“cooperation” in PD terminology) resulted in a larger reward delayed until the following trial. The larger-delayed reward was greater for half of the groups than for the other half. Rewards also differed in type across groups: multiples of real nickels, hypothetical nickels or hypothetical hundred-dollar bills. All groups significantly increased choice of the larger delayed reward over the 40 trials of the experiment. Over the last 10 trials, cooperation was significantly higher when the difference between larger and smaller hypothetical rewards was greater. Reward type (real or hypothetical) made no significant difference in cooperation. In Experiment 2, real and hypothetical rewards were compared in social discounting – the decrease in value to the giver of a reward as social distance increases to the receiver of the reward. Social discount rates were well described by a hyperbolic function. Discounting rates for real and hypothetical rewards did not significantly differ. These results add to the evidence that results of experiments with hypothetical rewards validly apply in everyday life. PMID:22582110

Behavioral Economic Predictors of Overweight Children’s Weight Loss

PubMed Central

Best, John R.; Theim, Kelly R.; Gredysa, Dana M.; Stein, Richard I.; Welch, R. Robinson; Saelens, Brian E.; Perri, Michael G.; Schechtman, Kenneth B.; Epstein, Leonard H.; Wilfley, Denise E.

2012-01-01

Objective Our goal was to determine whether behavioral economic constructs—including impulsivity (i.e., steep discounting of delayed food and monetary rewards), the relative reinforcing value of food (RRVfood), and environmental enrichment (i.e., the presence of alternatives to unhealthy foods in the home and neighborhood environments)—are significant pretreatment predictors of overweight children’s weight loss within family-based treatment. Method Overweight children (N = 241; ages 7–12 years; 63% female; 65% non-Hispanic White) enrolled in a 16-week family-based obesity treatment with at least one parent. At baseline, children completed a task to assess RRVfood and delay discounting measures of snack foods and money to assess impulsivity. Parents completed questionnaires to assess environmental enrichment. Results Children who found food highly reinforcing and steeply discounted future food rewards at baseline showed a blunted response to treatment compared with children without this combination of risk factors. High environmental enrichment was associated with treatment success only among children who did not find food highly reinforcing. Monetary discounting rate predicted weight loss, regardless of children’s level of RRVfood. Conclusions Investigation is warranted into novel approaches to obesity treatment that target underlying impulsivity and RRVfood. Enriching the environment with alternatives to unhealthy eating may facilitate weight loss, especially for children with low RRVfood. PMID:22924332

A Discounted Cash Flow variant to detect the optimal amount of additional burdens in Public-Private Partnership transactions.

PubMed

Copiello, Sergio

2016-01-01

The Discounted Cash Flow method is a long since well-known tool to assess the feasibility of investment projects, as the background which shapes a broad range of techniques, from the Cost-Benefit Analysis up to the Life-Cycle Cost Analysis. Its rationale lies in the comparison of deferred values, only once they have been discounted back to the present. The DCF variant proposed here fits into a specific application field. It is well-suited to the evaluations required in order to structure equitable transactions under the umbrella of Public-Private Partnership. •The discount rate relies upon the concept of expected return on equity, instead than on those of weighted average cost of capital, although the latter is the most common reference within the scope of real estate investment valuation.•Given a feasible project, whose Net Present Value is more than satisfactory, we aim to identify the amount of the additional burdens that could be charged to the project, under the condition of keeping the same economically viable.•The DCF variant essentially deals with an optimization problem, which can be solved by means of simple one-shot equations, derived from financial mathematics, or through iterative calculations if additional constraints must be considered.

Texting while driving as impulsive choice: A behavioral economic analysis.

PubMed

Hayashi, Yusuke; Russo, Christopher T; Wirth, Oliver

2015-10-01

The goal of the present study was to examine the utility of a behavioral economic analysis to investigate the role of delay discounting in texting while driving. A sample of 147 college students completed a survey to assess how frequently they send and read text messages while driving. Based on this information, students were assigned to one of two groups: 19 students who frequently text while driving and 19 matched-control students who infrequently text while driving but were similar in gender, age, years of education, and years driving. The groups were compared on the extent to which they discounted, or devalued, delayed hypothetical monetary rewards using a delay-discounting task. In this task, students made repeated choices between $1000 available after a delay (ranging from 1 week to 10 years) and an equal or lesser amount of money available immediately. The results show that the students who frequently text while driving discounted delayed rewards at a greater rate than the matched control students. The study supports the conclusions that texting while driving is fundamentally an impulsive choice made by drivers, and that a behavioral economic approach may be a useful research tool for investigating the decision-making processes underlying risky behaviors. Copyright © 2015 Elsevier Ltd. All rights reserved.

Price discrimination in obstetric services--a case study in Bangladesh.

PubMed

Amin, Mohammad; Hanson, Kara; Mills, Anne

2004-06-01

This article examines the existence of price discrimination for obstetric services in two private hospitals in Bangladesh, and considers the welfare consequences of such discrimination, i.e. whether or not price discrimination benefited the poorer users. Data on 1212 normal and caesarean section patients discharged from the two hospitals were obtained. Obstetric services were chosen because they are relatively standardised and the patient population is relatively homogeneous, so minimising the scope and scale of product differentiation due to procedure and case-mix differences. The differences between the hospital list price for delivery and actual prices paid by patients were calculated to determine the average rate of discount. The welfare consequences of price discrimination were assessed by testing the differences in mean prices paid by patients from three income groups: low, middle and high. The results suggest that two different forms of price discrimination for obstetric services occurred in both these hospitals. First, there was price discrimination according to income, with the poorer users benefiting from a higher discount rate than richer ones; and second, there was price discrimination according to social status, with three high status occupational groups (doctors, senior government officials, and large businessmen) having the highest probability of receiving some level of discount. Copyright 2003 John Wiley & Sons, Ltd.

Nuclear Waste Management under Approaching Disaster: A Comparison of Decommissioning Strategies for the German Repository Asse II.

PubMed

Ilg, Patrick; Gabbert, Silke; Weikard, Hans-Peter

2017-07-01

This article compares different strategies for handling low- and medium-level nuclear waste buried in a retired potassium mine in Germany (Asse II) that faces significant risk of uncontrollable brine intrusion and, hence, long-term groundwater contamination. We survey the policy process that has resulted in the identification of three possible so-called decommissioning options: complete backfilling, relocation of the waste to deeper levels in the mine, and retrieval. The selection of a decommissioning strategy must compare expected investment costs with expected social damage costs (economic, environmental, and health damage costs) caused by flooding and subsequent groundwater contamination. We apply a cost minimization approach that accounts for the uncertainty regarding the stability of the rock formation and the risk of an uncontrollable brine intrusion. Since economic and health impacts stretch out into the far future, we examine the impact of different discounting methods and rates. Due to parameter uncertainty, we conduct a sensitivity analysis concerning key assumptions. We find that retrieval, the currently preferred option by policymakers, has the lowest expected social damage costs for low discount rates. However, this advantage is overcompensated by higher expected investment costs. Considering all costs, backfilling is the best option for all discounting scenarios considered. © 2016 Society for Risk Analysis.

Devaluation of Safe Sex by Delay or Uncertainty: A Within-Subjects Study of Mechanisms Underlying Sexual Risk Behavior.

PubMed

Wongsomboon, Val; Robles, Elias

2017-10-01

The value of safe sex may be discounted based on contextual factors associated with an opportunity for sex. College students in a within-subjects study selected hypothetical sexual partners from a set of pictures and classified them based on attractiveness and estimated chance of having an sexually transmitted infection (STI). In the Sexual Delay Discounting (SDD) task, participants rated their likelihood (0-100 %) of waiting for some period of time (e.g., 3 h) to have protected sex with their selected partners, when they could have immediate sex without protection. In the Sexual Probability Discounting (SPD) task, participants rated their likelihood of having protected sex if the opportunity was uncertain (e.g., 50 %), when they could have unprotected sex for sure (100 %). All participants included in the final analyses were aware of and had a positive attitude towards protection against STIs as they were likely to have immediate (or certain) protected sex. Results from 432 delay data in the SDD task and 488 probability data in the SPD task showed that participants' preference for safe sex systematically decreased as the delay to and odds against having safe sex increased. However, this preference was altered by the participants' perception of their partner's attractiveness and STI risk.

26 CFR 31.3406(b)(2)-2 - Original issue discount.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 15 2010-04-01 2010-04-01 false Original issue discount. 31.3406(b)(2)-2... SOURCE Collection of Income Tax at Source § 31.3406(b)(2)-2 Original issue discount. (a) Original issue discount subject to backup withholding. The amount of original issue discount, treated as interest, subject...

The fiscal outcome of artificial conception in Brazil--creating citizens in developing countries.

PubMed

Kröger, G B; Ejzenberg, D

2012-01-01

Infertility is an important health issue, but only a small fraction of the affected population receives treatment in Brazil, because it is not covered by the government or private health insurance plans. We developed a generational accounting-based mathematical model to assess the direct economic result of creating a citizen through IVF in different economic scenarios, and the potential economic benefit generated by the individual and his/her future offspring. A mathematical model analyzes the revenues and expenses of an IVF-conceived individual over his lifetime. We calculated the net present value (NPV) of an IVF-conceived citizen, and this value corresponds to the fiscal contribution to the government by an individual, from birth through his predicted life expectancy. The calculation used discount rates of 4.0 and 7.0% to depreciate the money value by time. A 4.0% discount rate represents the most favorable economic scenario in Brazil, and it results in an NPV of US$ 61 428. A 7.0% discount rate represents a less favorable economic reality, and it results in a debit of U$ 563, but this debt may be compensated by his/her future offspring. The fiscal contribution generated by each IVF-conceived citizen can justify an initial government investment in infertility treatment. Poor economic times in Brazil can sometimes result in a fiscal debt from each new IVF-conceived child, but this initial expenditure may be compensated by the fiscal contribution in the next generation.

Discounting of reward sequences: a test of competing formal models of hyperbolic discounting

PubMed Central

Zarr, Noah; Alexander, William H.; Brown, Joshua W.

2014-01-01

Humans are known to discount future rewards hyperbolically in time. Nevertheless, a formal recursive model of hyperbolic discounting has been elusive until recently, with the introduction of the hyperbolically discounted temporal difference (HDTD) model. Prior to that, models of learning (especially reinforcement learning) have relied on exponential discounting, which generally provides poorer fits to behavioral data. Recently, it has been shown that hyperbolic discounting can also be approximated by a summed distribution of exponentially discounted values, instantiated in the μAgents model. The HDTD model and the μAgents model differ in one key respect, namely how they treat sequences of rewards. The μAgents model is a particular implementation of a Parallel discounting model, which values sequences based on the summed value of the individual rewards whereas the HDTD model contains a non-linear interaction. To discriminate among these models, we observed how subjects discounted a sequence of three rewards, and then we tested how well each candidate model fit the subject data. The results show that the Parallel model generally provides a better fit to the human data. PMID:24639662

Native, discount, or premium brand cigarettes: what types of cigarettes are Canadian youth currently smoking?

PubMed

Elton-Marshall, Tara; Leatherdale, Scott T; Burkhalter, Robin

2013-02-01

The objective of the study was to determine the brand distribution of premium, discount, and native cigarette brands and to identify the factors associated with smoking these brands among a nationally representative sample of Canadian youth smokers. Data from 3,137 current smokers in Grades 9-12 participating in the 2008-2009 Youth Smoking Survey (YSS) were used to examine the prevalence and factors associated with different cigarette brand preferences. The most prevalent brand of cigarette smoked was premium cigarettes (44.7%), followed by discount cigarettes (33.7%), and to be native cigarettes (7.3%). There was significant variability in brand preference by province with the majority of youth in Atlantic Canada and Quebec smoking a discount brand of cigarettes and higher prevalence rates of native cigarette use in Ontario and Quebec. Respondents were more likely to smoke discount cigarettes if they were female, daily smokers, or if they only had $1-20 a week in spending money. Respondents were more likely to smoke native cigarettes if they were Aboriginal, heavier smokers, or if they reported having no weekly spending money. A significant proportion of students from Grade 9 to 12 in Canada smoke cigarettes that are more affordable than premium brands and it appears that the market share for these more affordable cigarette options has increased in recent years. Given that the price of cigarettes is an important determinant in youth smoking behavior, it is critical to develop and continue to enforce tobacco control strategies designed to eliminate access to cheaper sources of cigarettes among youth populations.

The pupillary response discriminates between subjective and objective familiarity and novelty.

PubMed

Kafkas, Alexandros; Montaldi, Daniela

2015-10-01

The pupil response discriminates between old and new stimuli, with old stimuli characterized by larger pupil dilation patterns than new stimuli. We sought to explore the cause of the pupil old/new effect and discount the effect of targetness, effort, recollection retrieval, and complexity of the recognition decision. Two experiments are reported in which the pupil response and the eye fixation patterns were measured, while participants identified novel and familiar object stimuli, in two separate tasks, emphasizing either novelty or familiarity detection. In Experiment 1, familiarity and novelty decisions were taken using a rating scale, while in Experiment 2 a simpler yes/no decision was used. In both experiments, we found that detection of target familiar stimuli resulted in greater pupil dilation than the detection of target novel stimuli, while the duration of the first fixation discriminated between familiar and novel stimuli as early as within 320 ms after stimulus onset. Importantly, the pupil response distinguished between the objective (during an earlier temporal component) and the subjective (during a later temporal component) status of the stimulus for misses and false alarms. In the light of previous findings, we suggest that the pupil and fixation old/new effects reflect the distinct neural and cognitive mechanisms involved in the familiarity and novelty decisions. The findings also have important implications for the use of pupil dilation and eye movement patterns to explore explicit and implicit memory processes. © 2015 The Authors. Psychophysiology published by Wiley Periodicals, Inc. on behalf of Society for Psychophysiological Research.

Access assured: a pilot program to finance primary care for uninsured patients using a monthly enrollment fee.

PubMed

Saultz, John W; Brown, David; Stenberg, Stephen; Rdesinski, Rebecca E; Tillotson, Carrie J; Eigner, Danielle; Devoe, Jennifer

2010-01-01

Access Assured is an experimental program being used by 2 academic family medicine practices to deliver primary care to an uninsured patient population using a monthly retainer payment system in addition to a sliding fee schedule for office visits. This prospective cohort study was designed to determine whether patients would join such a program, to describe the population of people who did so, and to assess the program's financial viability. We used data abstracted from our electronic medical record system to describe the demographic characteristics and care utilization patterns of those patients enrolling during the first year of the study, between February 1, 2008, and January 31, 2009. We also compared 2 subpopulations of enrollees defined by their eligibility for office fee discounts based on income. A total of 600 Access Assured members made 1943 office visits during the study period, receiving a total of 4538.22 relative value units of service. Based on the membership fee, office visit fee collections, and remaining accounts receivable, this resulted in an expected reimbursement rate of $42.88 per relative value units. Three hundred one of the 600 (50.2%) patients had incomes above 400% of the federal poverty level (FPL) at the time of each of their office visits and were therefore not eligible for any visit fee discount. Another 156 patients (26.0%) were eligible for a 100% discount of all visit fees based on their income below 200% of the FPL. Using a multivariable Poisson regression analysis of these 2 groups, we determined that age was a significant determinant of return visit rate, with a 0.7% increase in return visit rate for each additional year of age (P = .006). Women had a 26% higher return visit rate than men (P = .001). After accounting for age, sex, and clinic site, fee discount level based on income was not a significant independent determinant of return visit rate (P = .118). A retainer-based program to enroll uninsured patients being used in 2 academic family medicine clinics attracted 600 patients during its first year. The program was financially viable and resulted in an expansion of our service to uninsured patients. More than half of the patients had incomes above 400% of the FPL, suggesting that the population of uninsured Oregonians may be economically more diverse than suspected.

Drinking status but not acute alcohol consumption influences delay discounting.

PubMed

Adams, Sally; Attwood, Angela S; Munafò, Marcus R

2017-09-01

The aim of this study was to investigate the following: (a) the effects of acute alcohol on delay discounting; (b) the effects of drinking status on delayed discounting; and (c) whether these effects differ according to reward type (alcohol vs. money). Heavy and light social alcohol users (n = 96) were randomized to receive either an acute dose of alcohol at 0.4 or 0.6 g/kg or placebo in a between-subjects, double-blind design. Delay discounting of alcohol and monetary rewards was measured using a hyperbolic model, with higher scores indicative of greater delay discounting. ANOVA of discount scores indicated a main effect of reward type, where all participants had higher discount scores for alcohol versus money rewards. A main effect of drinking status was also observed, where heavier drinkers had higher discount scores compared with lighter drinkers. We did not observe a main effect of acute alcohol use on delay discounting or the hypothesized interactions between acute alcohol use and drinking status with reward type. Our data suggest that heavier drinkers discount the value of delayed rewards more steeply than lighter drinkers. Delay discounting may therefore be a promising marker of heavy alcohol consumption in social drinkers. Copyright © 2017 John Wiley & Sons, Ltd.

Gratitude intervention modulates P3 amplitude in a temporal discounting task.

PubMed

Patalano, Andrea L; Lolli, Sydney L; Sanislow, Charles A

2018-06-23

Gratitude has been shown to reduce economic impatience. In particular, individuals induced to experience heightened gratitude are more willing to choose delayed larger rewards over immediate smaller rewards (i.e., they have lower discounting rates) than those in a neutral condition. Using the event-related potential (ERP) method, we investigated the relation between gratitude level and neurophysiological correlates. Of interest was motivated information processing, as indexed by the P3 component. Participants were administered a gratitude or a neutral mood induction followed by a temporal discounting task (choosing between a fixed immediate reward versus a future reward that varied across trials) while electroencephalogram (EEG) activity was recorded. Individuals in the gratitude condition had greater P3 amplitude, suggesting greater attention to the future-reward option (the choice option that varied across trials), even when this option was not selected, and providing the first evidence of gratitude-induced changes in electrophysiological activity. Copyright © 2018. Published by Elsevier B.V.

Costs and effectiveness of fingolimod versus alemtuzumab in the treatment of highly active relapsing-remitting multiple sclerosis in the UK: re-treatment, discount, and disutility.

PubMed

Montgomery, Stephen M; Kusel, Jeanette; Nicholas, Richard; Adlard, Nicholas

2017-09-01

Patients with relapsing-remitting multiple sclerosis (RRMS) treated with disease modifying therapies (DMTs) who continue to experience disease activity may be considered for escalation therapies such as fingolimod, or may be considered for alemtuzumab. Previous economic modeling used Markov models; applying one alternative technique, discrete event simulation (DES) modeling, allows re-treatment and long-term adverse events (AEs) to be included in the analysis. A DES was adapted to model relapse-triggered re-treatment with alemtuzumab and the effect of including ongoing quality-adjusted life year (QALY) decrements for AEs that extend beyond previous 1-year Markov cycles. As the price to the NHS of fingolimod in the UK is unknown, due to a confidential patient access scheme (PAS), a variety of possible discounts were tested. The interaction of re-treatment assumptions for alemtuzumab with the possible discounts for fingolimod was tested to determine which DMT resulted in lower lifetime costs. The lifetime QALY results were derived from modeled treatment effect and short- and long-term AEs. Most permutations of fingolimod PAS discount and alemtuzumab re-treatment rate resulted in fingolimod being less costly than alemtuzumab. As the percentage of patients who are re-treated with alemtuzumab due to experiencing a relapse approaches 100% of those who relapse whilst on treatment, the discount required for fingolimod to be less costly drops below 5%. Consideration of treatment effect alone found alemtuzumab generated 0.2 more QALYs/patient; the inclusion of AEs up to a duration of 1 year reduced this advantage to only 0.14 QALYs/patient. Modeling AEs with a lifetime QALY decrement found that both DMTs generated very similar QALYs with the difference only 0.04 QALYs/patient. When the model captured alemtuzumab re-treatment and long-term AE decrements, it was found that fingolimod is cost-effective compared to alemtuzumab, assuming application of only a modest level of confidential PAS discount.

Delay, Probability, and Social Discounting in a Public Goods Game

ERIC Educational Resources Information Center

Jones, Bryan A.; Rachlin, Howard

2009-01-01

A human social discount function measures the value to a person of a reward to another person at a given social distance. Just as delay discounting is a hyperbolic function of delay, and probability discounting is a hyperbolic function of odds-against, social discounting is a hyperbolic function of social distance. Experiment 1 obtained individual…

On the social rate of discount: the case for macroenvironmental policy

DOE Office of Scientific and Technical Information (OSTI.GOV)

Doeleman, J.A.

Concern for the rapidly growing scale and intensity of the human exploitation of the environment, in particular the alienation of natural ecosystems, but also resource exhaustion, pollution, and congestion, leads one to wonder about the short time horizons allowed for in decision making. Time preference is dictated by the rate of interest, allowing in practice a horizon often not exceeding several decades. I argue that this is unsatisfactory. Some minimal social rate of discount should not be enforced. Instead, it is more feasible to set absolute environmental standards, thereby introducing quantity constraints on our decision making, within which time preferencemore » can be permitted to find its own level. This acknowledges that the myopia of human vision may not be a flaw but rather a biological design which has served us well in evolution. It may, therefore, be better to change the rules by introducing self-imposed collective constraints than to try to change the shortsightedness of people in their day-to-day grass-roots decision making.« less

Propranolol reduces implicit negative racial bias.

PubMed

Terbeck, Sylvia; Kahane, Guy; McTavish, Sarah; Savulescu, Julian; Cowen, Philip J; Hewstone, Miles

2012-08-01

Implicit negative attitudes towards other races are important in certain kinds of prejudicial social behaviour. Emotional mechanisms are thought to be involved in mediating implicit "outgroup" bias but there is little evidence concerning the underlying neurobiology. The aim of the present study was to examine the role of noradrenergic mechanisms in the generation of implicit racial attitudes. Healthy volunteers (n = 36) of white ethnic origin, received a single oral dose of the β-adrenoceptor antagonist, propranolol (40 mg), in a randomised, double-blind, parallel group, placebo-controlled, design. Participants completed an explicit measure of prejudice and the racial implicit association test (IAT), 1-2 h after propranolol administration. Relative to placebo, propranolol significantly lowered heart rate and abolished implicit racial bias, without affecting the measure of explicit racial prejudice. Propranolol did not affect subjective mood. Our results indicate that β-adrenoceptors play a role in the expression of implicit racial attitudes suggesting that noradrenaline-related emotional mechanisms may mediate negative racial bias. Our findings may also have practical importance given that propranolol is a widely used drug. However, further studies will be needed to examine whether a similar effect can be demonstrated in the course of clinical treatment.

Assessment of Biases Against Latinos and African Americans Among Primary Care Providers and Community Members

PubMed Central

Havranek, Edward P.; Price, David W.; Hanratty, Rebecca; Fairclough, Diane L.; Farley, Tillman; Hirsh, Holen K.; Steiner, John F.

2013-01-01

Objectives. We assessed implicit and explicit bias against both Latinos and African Americans among experienced primary care providers (PCPs) and community members (CMs) in the same geographic area. Methods. Two hundred ten PCPs and 190 CMs from 3 health care organizations in the Denver, Colorado, metropolitan area completed Implicit Association Tests and self-report measures of implicit and explicit bias, respectively. Results. With a 60% participation rate, the PCPs demonstrated substantial implicit bias against both Latinos and African Americans, but this was no different from CMs. Explicit bias was largely absent in both groups. Adjustment for background characteristics showed the PCPs had slightly weaker ethnic/racial bias than CMs. Conclusions. This research provided the first evidence of implicit bias against Latinos in health care, as well as confirming previous findings of implicit bias against African Americans. Lack of substantive differences in bias between the experienced PCPs and CMs suggested a wider societal problem. At the same time, the wide range of implicit bias suggested that bias in health care is neither uniform nor inevitable, and important lessons might be learned from providers who do not exhibit bias. PMID:23153155

49 CFR 639.7 - Definitions.

Code of Federal Regulations, 2011 CFR

2011-10-01

... recipient in the market. Present value means the value at the time of calculation of a future payment, or series of future payments discounted by the time value of money as represented by an interest rate or...

76 FR 39419 - Information Collection Activity: Plans and Information, Extension of a Collection; Comment Request

Federal Register 2010, 2011, 2012, 2013, 2014

2011-07-06

..., you should comment and provide your total capital and startup cost components or annual operation... cost factors, including system and technology acquisition, expected useful life of capital equipment, discount rate(s), and the period over which you incur costs. Capital and startup costs include, among other...

78 FR 52694 - Price Cap Rules for Certain Postal Rate Adjustments

Federal Register 2010, 2011, 2012, 2013, 2014

2013-08-26

... Sec. 3010.12(c) relating to the filing of information concerning new discounts and surcharges are... and IV.C. Section 3010.23(b) reflects revisions that require the percentage change in rates for a... authority may only be applied after applying the annual limitation. Section 3010.26(c)(2) reflects revisions...

Am I On the Mark? Technology Planning for the E-Rate.

ERIC Educational Resources Information Center

Kimball, Chip; Sibely, Peter H. R.

1998-01-01

Discusses technology use plans (TUPs) that schools need for E-rate discounts that are available through the Federal Telecommunications Act. A Technology Plan Analysis Rubric is included that is used to evaluate whether a TUP has the elements considered essential as described in educational research and confirmed by practicing technology…

What Does an IRR (or Two) Mean?

ERIC Educational Resources Information Center

Johnstone, David

2008-01-01

Defined mathematically, the internal rate of return (IRR) of a cash-flow stream is the discount rate at which its net present value is 0. What is the significance or meaning of such a measure? Using simple example problems and illustrative calculations, the author explains a technically correct but, at the same time, intuitively meaningful…

10 CFR 436.16 - Establishing non-fuel and non-water cost categories.

Code of Federal Regulations, 2011 CFR

2011-01-01

... PLANNING PROGRAMS Methodology and Procedures for Life Cycle Cost Analyses § 436.16 Establishing non-fuel... discount rate and escalation rate assumptions under § 436.14. When recurring costs begin to accrue at a later time, subtract the present value of recurring costs over the delay, calculated using the...

7 CFR 1786.153 - Discounted present value.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 2 1-year. 2 3 2-year. 3 4 3-year. 4 5 (1) 5 6 5-year. 6 7 (2) 7 8 7-year. 8 9 (3) 9 10 (3) 10 11 10... Maturities computed as above. 3 A straight line interpolated rate between the 7-year rate and the 10-year rate. (See formula below) 4 A straight line interpolated rate between the 10-year note and the 20-year...

7 CFR 1786.153 - Discounted present value.

Code of Federal Regulations, 2011 CFR

2011-01-01

... 2 1-year. 2 3 2-year. 3 4 3-year. 4 5 (1) 5 6 5-year. 6 7 (2) 7 8 7-year. 8 9 (3) 9 10 (3) 10 11 10... Maturities computed as above. 3 A straight line interpolated rate between the 7-year rate and the 10-year rate. (See formula below) 4 A straight line interpolated rate between the 10-year note and the 20-year...

Insurance Discounts: Traffic Safety Tips

DOT National Transportation Integrated Search

1996-01-01

This fact sheet, NHTSA Facts: Summer 1996, discusses automobile insurance discounts. It relates how to obtain a discount, and details what factors can influence insurance premiums. It notes that discounts for safety features vary from insurance compa...

Implicit Social Cognitive Processes Underlying Victim Self and Identity: Evidence With College-Aged Adults.

PubMed

Sachs, Nicole M; Veysey, Bonita M; Rivera, Luis M

2017-11-01

Past research on victimization has relied predominantly on individuals' awareness of and willingness to self-report a victimization experience and its effect on self and identity processes. The present research adopts theoretical and methodological innovations in implicit social cognition research to provide a new perspective on how a violent victimization experience might influence identity processes outside of conscious awareness. Our main goal was to test whether individuals who have victimization experience implicitly associate the self with victims (implicit victim identity) and their stereotypes (implicit victim self-stereotyping), and the relation of these associations to explicit victim identity and self-stereotyping. Two pretests with undergraduate student participants ( Ns = 122 and 72) identified victim-related word stimuli for two Single Category Implicit Association Test (SC-IAT) measures of implicit victim identity and self-stereotyping. In Pretest Study A, participants read crime vignettes and listed words that described a victim, then in Pretest Study B, participants rated these words on victim relatedness and valence. The Main Study recruited undergraduate student participants ( N = 101) who completed the SC-IATs, self-report measures of explicit victim identity and self-stereotyping, and victimization experiences. Three of our five hypotheses were supported. Individuals with past victimization experience exhibited strong explicit victim identity and self-stereotyping, but not implicit victim identity and self-stereotyping, relative to those with no victimization experience. Explicit and implicit victim identity and self-stereotyping were unrelated. Finally, among individuals with victimization experience, a strong implicit victim identity was associated with strong implicit victim self-stereotyping. This research has implications for understanding the processes underlying revictimization and for preventing further victimization.

Perspectives on using implicit type constitutive relations in the modelling of the behaviour of non-Newtonian fluids

DOE Office of Scientific and Technical Information (OSTI.GOV)

Janečka, Adam, E-mail: janecka@karlin.mff.cuni.cz; Průša, Vít, E-mail: prusv@karlin.mff.cuni.cz

2015-04-28

We discuss the benefits of using the so-called implicit type constitutive relations introduced by K. R. Rajagopal, J. Fluid Mech. 550, 243-249 (2006) and K. R. Rajagopal, Appl. Math. 48, 279-319 (2003) in the description of the behaviour of non-Newtonian fluids. In particular, we focus on the benefits of using the implicit type constitutive relations in the mathematical modelling of fluids in which the shear stress/shear rate dependence is given by an S-shaped curve, and in modelling of fluids that exhibit nonzero normal stress differences. We also discuss a thermodynamical framework that allows one to cope with the implicit typemore » constitutive relations.« less

Logic Brightens My Day: Evidence for Implicit Sensitivity to Logical Validity

ERIC Educational Resources Information Center

Trippas, Dries; Handley, Simon J.; Verde, Michael F.; Morsanyi, Kinga

2016-01-01

A key assumption of dual process theory is that reasoning is an explicit, effortful, deliberative process. The present study offers evidence for an implicit, possibly intuitive component of reasoning. Participants were shown sentences embedded in logically valid or invalid arguments. Participants were not asked to reason but instead rated the…

A Cross-National Study of Implicit Theories of a Creative Person

ERIC Educational Resources Information Center

Hopp, Manuel; Händel, Marion; Stoeger, Heidrun; Vialle, Wilma; Ziegler, Albert

2016-01-01

Implicit theories can influence learning behavior, the approaches individuals take to learning and performance situations, and the learning goals individuals set, as well as, indirectly, their accomplishments, intelligence, and creativity. For this cross-cultural study, Kenyan and German students were asked to draw a creative person and rate it on…

The Effects of Financial Education on Impulsive Decision Making

PubMed Central

DeHart, William B.; Friedel, Jonathan E.; Lown, Jean M.; Odum, Amy L.

2016-01-01

Delay discounting, as a behavioral measure of impulsive choice, is strongly related to substance abuse and other risky behaviors. Therefore, effective techniques that alter delay discounting are of great interest. We explored the ability of a semester long financial education course to change delay discounting. Participants were recruited from a financial education course (n = 237) and an abnormal psychology course (n = 80). Both groups completed a delay-discounting task for $100 during the first two weeks (Time 1) of the semester as well as during the last two weeks (Time 2) of the semester. Participants also completed a personality inventory and financial risk tolerance scale both times and a delay-discounting task for $1,000 during Time 2. Delay discounting decreased in the financial education group at the end of the semester whereas there was no change in delay discounting in the abnormal psychology group. Financial education may be an effective method for reducing delay discounting. PMID:27442237

The Effects of Financial Education on Impulsive Decision Making.

PubMed

DeHart, William B; Friedel, Jonathan E; Lown, Jean M; Odum, Amy L

2016-01-01

Delay discounting, as a behavioral measure of impulsive choice, is strongly related to substance abuse and other risky behaviors. Therefore, effective techniques that alter delay discounting are of great interest. We explored the ability of a semester long financial education course to change delay discounting. Participants were recruited from a financial education course (n = 237) and an abnormal psychology course (n = 80). Both groups completed a delay-discounting task for $100 during the first two weeks (Time 1) of the semester as well as during the last two weeks (Time 2) of the semester. Participants also completed a personality inventory and financial risk tolerance scale both times and a delay-discounting task for $1,000 during Time 2. Delay discounting decreased in the financial education group at the end of the semester whereas there was no change in delay discounting in the abnormal psychology group. Financial education may be an effective method for reducing delay discounting.

Climate mitigation: sustainable preferences and cumulative carbon

NASA Astrophysics Data System (ADS)

Buckle, Simon

2010-05-01

We develop a stylized AK growth model with both climate damages to ecosystem goods and services and sustainable preferences that allow trade-offs between present discounted utility and long-run climate damages. The simplicity of the model permits analytical solutions. Concern for the long-term provides a strong driver for mitigation action. One plausible specification of sustainable preferences leads to the result that, for a range of initial parameter values, an optimizing agent would choose a level of cumulative carbon dioxide (CO2) emissions independent of initial production capital endowment and CO2 levels. There is no technological change so, for economies with sufficiently high initial capital and CO2 endowments, optimal mitigation will lead to disinvestment. For lower values of initial capital and/or CO2 levels, positive investment can be optimal, but still within the same overall level of cumulative emissions. One striking aspect of the model is the complexity of possible outcomes, in addition to these optimal solutions. We also identify a resource constrained region and several regions where climate damages exceed resources available for consumption. Other specifications of sustainable preferences are discussed, as is the case of a hard constraint on long-run damages. Scientists are currently highlighting the potential importance of the cumulative carbon emissions concept as a robust yet flexible target for climate policymakers. This paper shows that it also has an ethical interpretation: it embodies an implicit trade off in global welfare between present discounted welfare and long-term climate damages. We hope that further development of the ideas presented here might contribute to the research and policy debate on the critical areas of intra- and intergenerational welfare.

Probabilistic Discounting of Hypothetical Monetary Gains: University Students Differ in How They Discount "Won" and "Owed" Money

ERIC Educational Resources Information Center

Weatherly, Jeffrey N.; Derenne, Adam

2013-01-01

The present study tested whether participants would discount "won" money differently than they would "owed" money in a probability-discounting task. Participants discounted $1000 or $100,000 that they had won in a sweepstakes or that was owed to them using the multiple-choice (Experiment 1) or fill-in-the-blank (Experiment 2) method of collecting…

The Role of Expression and Race in Weapons Identification

PubMed Central

Kubota, Jennifer T.; Ito, Tiffany A.

2014-01-01

Emotional expressions can signal intentions and so possess the power to moderate social inferences. Here we test whether stereotypes implicitly elicited by a stigmatized racial outgroup member are moderated by facial expression. Participants classified pictures of guns and tools that were primed with pictures of Black and White male faces posing angry, happy, and neutral expressions. Across the three measures examined—response latencies, error rates, and automatic processing— facial expression modulated implicit stereotyping (study 1, n=71; study 2, n=166). A Black angry prime elicited implicit stereotyping while a Black happy prime diminished implicit stereotyping. Responding after neutral primes varied as a function of the expression context. When viewed alongside more threatening expressions (study 1), neutral Black targets no longer elicited implicit stereotyping; but when viewed alongside more threatening expressions (study 2), neutral Black targets primed crime and danger-relevant stereotypes. These results demonstrate that an individual can activate different associations based on changes in emotional expression, and that a feature present in many everyday encounters (a smile) attenuates implicit racial stereotyping. PMID:25401289

Structured implicit review: a new method for monitoring nursing care quality.

PubMed

Pearson, M L; Lee, J L; Chang, B L; Elliott, M; Kahn, K L; Rubenstein, L V

2000-11-01

Nurses' independent decisions about assessment, treatment, and nursing interventions for hospitalized patients are important determinants of quality of care. Physician peer implicit review of medical records has been central to Medicare quality management and is considered the gold standard for reviewing physician care, but peer implicit review of nursing processes of care has not received similar attention. The objective of this study was to develop and evaluate nurse structured implicit review (SIR) methods. We developed SIR instruments for rating the quality of inpatient nursing care for congestive heart failure (CHF) and cerebrovascular accident (CVA). Nurse reviewers used the SIR form to rate a nationally representative sample of randomly selected medical records for each disease from 297 acute care hospitals in 5 states (collected by the RAND-HCFA Prospective Payment System study). The study subjects were elderly Medicare inpatients with CHF (n = 291) or CVA (n = 283). We developed and tested scales reflecting domains of nursing process, evaluated interrater and interitem reliability, and assessed the extent to which items and scales predicted overall ratings of the quality of nursing care. Interrater reliability for 14 of 16 scales (CHF) or 10 of 16 scales (CVA) was > or = 0.40. Interitem reliability was > 0.80 for all but 1 scale (both diseases). Functional Assessment, Physical Assessment, and Medication Tracking ratings were the strongest predictors of overall nursing quality ratings (P < 0.001 for each). Nurse peer review with SIR has adequate interrater and excellent scale reliabilities and can be a valuable tool for assessing nurse performance.

Cross-commodity delay discounting of alcohol and money in alcohol users

PubMed Central

Moody, Lara N.; Tegge, Allison N.; Bickel, Warren K.

2017-01-01

Despite real-world implications, the pattern of delay discounting in alcohol users when the commodities now and later differ has not been well characterized. In this study, 60 participants on Amazon's Mechanical Turk completed the Alcohol Use Disorder Identification Test (AUDIT) to assess severity of use and completed four delay discounting tasks between hypothetical, equivalent amounts of alcohol and money available at five delays. The tasks included two cross-commodity (alcohol now-money later and money now-alcohol later) and two same-commodity (money now-money later and alcohol now-alcohol later) conditions. Delay discounting was significantly associated with clinical cutoffs of the AUDIT for both of the cross-commodity conditions but not for either of the same-commodity delay discounting tasks. The cross-commodity discounting conditions were related to severity of use wherein heavy users discounted future alcohol less and future money more. The change in direction of the discounting effect was dependent on the commodity that was distally available suggesting a distinctive pattern of discounting across commodities when comparing light and heavy alcohol users. PMID:29056767

Cross-commodity delay discounting of alcohol and money in alcohol users.

PubMed

Moody, Lara N; Tegge, Allison N; Bickel, Warren K

2017-06-01

Despite real-world implications, the pattern of delay discounting in alcohol users when the commodities now and later differ has not been well characterized. In this study, 60 participants on Amazon's Mechanical Turk completed the Alcohol Use Disorder Identification Test (AUDIT) to assess severity of use and completed four delay discounting tasks between hypothetical, equivalent amounts of alcohol and money available at five delays. The tasks included two cross-commodity (alcohol now-money later and money now-alcohol later) and two same-commodity (money now-money later and alcohol now-alcohol later) conditions. Delay discounting was significantly associated with clinical cutoffs of the AUDIT for both of the cross-commodity conditions but not for either of the same-commodity delay discounting tasks. The cross-commodity discounting conditions were related to severity of use wherein heavy users discounted future alcohol less and future money more. The change in direction of the discounting effect was dependent on the commodity that was distally available suggesting a distinctive pattern of discounting across commodities when comparing light and heavy alcohol users.

Brain Structure Linking Delay Discounting and Academic Performance.

PubMed

Wang, Song; Kong, Feng; Zhou, Ming; Chen, Taolin; Yang, Xun; Chen, Guangxiang; Gong, Qiyong

2017-08-01

As a component of self-discipline, delay discounting refers to the ability to wait longer for preferred rewards and plays a pivotal role in shaping students' academic performance. However, the neural basis of the association between delay discounting and academic performance remains largely unknown. Here, we examined the neuroanatomical substrates underlying delay discounting and academic performance in 214 adolescents via voxel-based morphometry (VBM) by performing structural magnetic resonance imaging (S-MRI). Behaviorally, we confirmed the significant correlation between delay discounting and academic performance. Neurally, whole-brain regression analyses indicated that regional gray matter volume (rGMV) of the left dorsolateral prefrontal cortex (DLPFC) was associated with both delay discounting and academic performance. Furthermore, delay discounting partly accounted for the association between academic performance and brain structure. Differences in the rGMV of the left DLPFC related to academic performance explained over one-third of the impact of delay discounting on academic performance. Overall, these results provide the first evidence for the common neural basis linking delay discounting and academic performance. Hum Brain Mapp 38:3917-3926, 2017. © 2017 Wiley Periodicals, Inc. © 2017 Wiley Periodicals, Inc.

Beyond Access: An Analysis of the Influence of the E-Rate Program in Bridging the Digital Divide in American Schools

ERIC Educational Resources Information Center

Park, Euna; Sinha, Hansa; Chong, Jing

2007-01-01

E-Rate is a U.S. federal funding program for providing discounts for telecommunications, Internet access and internal networking costs for schools and libraries to ensure access equity across poor and rich, rural, urban and suburban areas, and highly served and underserved areas. This paper examines the impact of the E-Rate program on social…

Sustainability and Environmental Economics: Some Critical Foci

EPA Science Inventory

I present five seminal concepts of environmental economic thought and discuss their applicability to the idea of sustainability. These five, Maximum Sustainable Yield and Steady-state, The Environmental Kuznet’s curve, Substitutability, Discount rate and Intergenerational equity...

Economics of hydrogen production and liquefaction updated to 1980

NASA Technical Reports Server (NTRS)

Baker, C. R.

1979-01-01

Revised costs for generating and liquefying hydrogen in mid-1980 are presented. Plant investments were treated as straight-forward escalations resulting from inflation. Operating costs, however, were derived in terms of the unit cost of coal, fuel gas and electrical energy to permit the determination of the influence of these parameters on the cost of liquid hydrogen. Inflationary influence was recognized by requiring a 15% discounted rate of return on investment for Discounted Cash Flow financing analysis, up from 12% previously. Utility financing was revised to require an 11% interest rate on debt. The scope of operation of the hydrogen plant was revised from previous studies to include only the hydrogen generation and liquefaction facilities. On-site fuel gas and power generation, originally a part of the plant complex, was eliminated. Fuel gas and power are now treated as purchased utilities. Costs for on-site generation of fuel gas however, are included.

Irrigation market for solar thermal parabolic dish systems

NASA Technical Reports Server (NTRS)

Habib-Agahi, H.; Jones, S. C.

1981-01-01

The potential size of the onfarm-pumped irrigation market for solar thermal parabolic dish systems in seven high-insolation states is estimated. The study is restricted to the displacement of three specific fuels: gasoline, diesel and natural gas. The model was developed to estimate the optimal number of parabolic dish modules per farm based on the minimum cost mix of conventional and solar thermal energy required to meet irrigation needs. The study concludes that the potential market size for onfarm-pumped irrigation applications ranges from 101,000 modules when a 14 percent real discount rate is assumed to 220,000 modules when the real discount rate drops to 8 percent. Arizona, Kansas, Nebraska, New Mexico and Texas account for 98 percent of the total demand for this application, with the natural gas replacement market accounting for the largest segment (71 percent) of the total market.

The Behavioral Economics of Drunk Driving

PubMed Central

Sloan, Frank A.; Eldred, Lindsey; Xu, Yanzhi

2014-01-01

This study investigates whether drinker-drivers attributes are associated with imperfect rationality or irrationality. Using data from eight U.S. cities, we determine whether drinker-drivers differ from other drinkers in cognitive ability, ignorance of driving while intoxicated (DWI) laws, have higher rates of time preference, are time inconsistent, and lack self-control on other measures. We find that drinker-drivers are relatively knowledgeable about DWI laws and do not differ on two of three study measures of cognitive ability from other drinkers. Drinker-drivers are less prone to plan events involving drinking, e.g., selecting a designated driver in advance of drinking, and are more impulsive. Furthermore, we find evidence in support of hyperbolic discounting. In particular, relative to non-drinker-drivers, the difference between short- and long-term discount rates is much higher for drinker-drivers than for other drinkers. Implications of our findings for public policy, including incapacitation, treatment, and educational interventions, are discussed. PMID:24603444

Harnessing the power of disgust: a randomized trial to reduce high-calorie food appeal through implicit priming.

PubMed

Legget, Kristina T; Cornier, Marc-Andre; Rojas, Donald C; Lawful, Benjamin; Tregellas, Jason R

2015-08-01

In our increasingly obesogenic environment, in which high-calorie convenience foods are readily available, food choices can drastically affect weight and overall health. Learned food preferences, which are developed through repeated pairings with positively and negatively valenced stimuli, can contribute to obesity susceptibility if positive attitudes toward high-calorie foods are developed. Thus, the modification of automatic associations with food may be a viable strategy to promote healthier eating behaviors. In this study, we investigated the ability of an implicit priming (IP) intervention to alter responses to visual food cues by using an evaluative conditioning approach. The main objective was to implicitly (i.e., below conscious perception) associate disgust with high-calorie foods with the aim of reducing liking of these foods. Participants were randomly assigned to active or control IP. In active IP (n = 22), high-calorie food images were implicitly primed with negatively valenced images, and low-calorie food images were implicitly primed with positively valenced images. In control IP (n = 20), all food images were primed with neutral images of fixation crosses. Food images were rated on the desire to eat immediately before and after IP. A significant main effect of calorie (high compared with low; P < 0.001) and a significant calorie-by-group (active compared with control) interaction (P = 0.025) were observed. Post hoc tests identified a significantly greater high-calorie rating decline after active IP than after control IP (P = 0.036). Furthermore, there was significantly greater change in high-calorie ratings than in low-calorie ratings in the active group (P = 0.001). Active IP effects extended to high-calorie foods not specifically included in the intervention, which suggested an effect generalization. Moreover, a greater change in high-calorie ratings than in low-calorie ratings persisted 3-5 d after active IP (P < 0.007), which suggested lasting effects. This study provides initial evidence that IP can be used to alter high-calorie food preferences, which could promote healthier eating habits. © 2015 American Society for Nutrition.

The effects of the framing of time on delay discounting.

PubMed

DeHart, William Brady; Odum, Amy L

2015-01-01

We examined the effects of the framing of time on delay discounting. Delay discounting is the process by which delayed outcomes are devalued as a function of time. Time in a titrating delay discounting task is often framed in calendar units (e.g., as 1 week, 1 month, etc.). When time is framed as a specific date, delayed outcomes are discounted less compared to the calendar format. Other forms of framing time; however, have not been explored. All participants completed a titrating calendar unit delay-discounting task for money. Participants were also assigned to one of two delay discounting tasks: time as dates (e.g., June 1st, 2015) or time in units of days (e.g., 5000 days), using the same delay distribution as the calendar delay-discounting task. Time framed as dates resulted in less discounting compared to the calendar method, whereas time framed as days resulted in greater discounting compared to the calendar method. The hyperboloid model fit best compared to the hyperbola and exponential models. How time is framed may alter how participants attend to the delays as well as how the delayed outcome is valued. Altering how time is framed may serve to improve adherence to goals with delayed outcomes. © Society for the Experimental Analysis of Behavior.

Exposure to Sexual Stimuli Induces Greater Discounting Leading to Increased Involvement in Cyber Delinquency Among Men.

PubMed

Cheng, Wen; Chiou, Wen-Bin

2018-02-01

People frequently encounter sexual stimuli during Internet use. Research has shown that stimuli inducing sexual motivation can lead to greater impulsivity in men, as manifested in greater temporal discounting (i.e., a tendency to prefer smaller, immediate gains to larger, future ones). Extant findings in crime research suggest that delinquents tend to focus on short-term gains while failing to adequately think through the longer-term consequences of delinquent behavior. We experimentally tested the possibility that exposure to sexual stimuli is associated with the tendency to engage in cyber delinquency among men, as a result of their overly discounting remote consequences. In Experiment 1, participants exposed to pictures of "sexy" women were more likely to discount the future and were more inclined to make cyber-delinquent choices (e.g., cyberbullying, cyber fraud, cyber theft, and illegal downloading), compared with male participants who rated the sex appeal of less sexy opposite-sex pictures. However, these relationships were not observed in female participants exposed to either highly or less sexy pictures of men. In Experiment 2, male participants exposed to sexual primes showed a greater willingness to purchase a wide range of counterfeit rather than authentic products online and experienced a higher likelihood of logging into the other person's Facebook webpage (i.e., invading online privacy). The discounting tendency mediated the link between exposure to sexual primes and the inclination to engage in cyber-delinquent behavior. These findings provide insight into a strategy for reducing men's involvement in cyber delinquency; that is, through less exposure to sexual stimuli and promotion of delayed gratification. The current results suggest that the high availability of sexual stimuli in cyberspace may be more closely associated with men's cyber-delinquent behavior than previously thought.

Biased and less sensitive: A gamified approach to delay discounting in heroin addiction.

PubMed

Scherbaum, Stefan; Haber, Paul; Morley, Kirsten; Underhill, Dylan; Moustafa, Ahmed A

2018-03-01

People with addiction will continue to use drugs despite adverse long-term consequences. We hypothesized (a) that this deficit persists during substitution treatment, and (b) that this deficit might be related not only to a desire for immediate gratification, but also to a lower sensitivity for optimal decision making. We investigated how individuals with a history of heroin addiction perform (compared to healthy controls) in a virtual reality delay discounting task. This novel task adds to established measures of delay discounting an assessment of the optimality of decisions, especially in how far decisions are influenced by a general choice bias and/or a reduced sensitivity to the relative value of the two alternative rewards. We used this measure of optimality to apply diffusion model analysis to the behavioral data to analyze the interaction between decision optimality and reaction time. The addiction group consisted of 25 patients with a history of heroin dependency currently participating in a methadone maintenance program; the control group consisted of 25 healthy participants with no history of substance abuse, who were recruited from the Western Sydney community. The patient group demonstrated greater levels of delay discounting compared to the control group, which is broadly in line with previous observations. Diffusion model analysis yielded a reduced sensitivity for the optimality of a decision in the patient group compared to the control group. This reduced sensitivity was reflected in lower rates of information accumulation and higher decision criteria. Increased discounting in individuals with heroin addiction is related not only to a generally increased bias to immediate gratification, but also to reduced sensitivity for the optimality of a decision. This finding is in line with other findings about the sensitivity of addicts in distinguishing optimal from nonoptimal choice options.

Chapter 11. Fuel Economy: The Case for Market Failure

DOE Office of Scientific and Technical Information (OSTI.GOV)

Greene, David L; German, John; Delucchi, Mark A

2009-01-01

The efficiency of energy using durable goods, from automobiles to home air conditioners, is not only a key determinant of economy-wide energy use but also of greenhouse gas (GHG) emissions, climate change and energy insecurity. Energy analysts have long noted that consumers appear to have high implicit discount rates for future fuel savings when choosing among energy using durable goods (Howarth and Sanstad, 1995). In modeling consumers choices of appliances, the Energy Information Administration (EIA) has used discount rates of 30 percent for heating systems, 69 percent for choice of refrigerator and up to 111 percent for choice of watermore » heater (U.S. DOE/EIA, 1996). Several explanations have been offered for this widespread phenomenon, including asymmetric information, bounded rationality and transaction costs. This chapter argues that uncertainty combined with loss aversion by consumers is sufficient to explain the failure to adopt cost effective energy efficiency improvements in the market for automotive fuel economy, although other market failures appear to be present as well. Understanding how markets for energy efficiency function is crucial to formulating effective energy policies (see Pizer, 2006). Fischer et al., (2004), for example, demonstrated that if consumers fully value the discounted present value of future fuel savings, fuel economy standards are largely redundant and produce small welfare losses. However, if consumers value only the first three years of fuel savings, then fuel economy standards can significantly increase consumer welfare. The nature of any market failure that might be present in the market for energy efficiency would also affect the relative efficacy of energy taxes versus regulatory standards (CBO, 2003). If markets function efficiently, energy taxes would generally be more efficient than regulatory standards in increasing energy efficiency and reducing energy use. If markets are decidedly inefficient, standards would likely be more effective. The chapter explores the roles of uncertainty and loss-aversion in the market for automotive fuel economy. The focus is on the determination of the technical efficiency of the vehicle rather than consumers choices among vehicles. Over the past three decades, changes in the mix of vehicles sold has played little if any role in raising the average fuel economy of new light-duty vehicles from 13 miles per gallon (mpg) in 1975 to 21 mpg today (Heavenrich, 2006). Over that same time period, average vehicle weight is up 2 percent, horsepower is up 60 percent, passenger car interior volume increased by 2 percent and the market share of light trucks grew by 31 percentage points. Historically, at least, increasing light-duty vehicle fuel economy in the United States has been a matter of manufacturers decisions to apply technology to increase the technical efficiency of cars and light trucks. Understanding how efficiently the market determines the technical fuel economy of new vehicles would seem to be critical to formulating effective policies to encourage future fuel economy improvement. The central issue is whether or not the market for fuel economy is economically efficient. Rubenstein (1998) lists the key assumptions of the rational economic decision model. The decision maker must have a clear picture of the choice problem he or she faces. He should be fully aware of the set of alternatives from which to choose and have the skill necessary to make complicated calculations needed to discover the optimal course of action. Finally, the decision maker should have the unlimited ability to calculate and be indifferent to alternatives and choice sets.« less

Taxonomy of Tuition Discounting.

ERIC Educational Resources Information Center

Allan, Ronald Gage

1999-01-01

Reviews issues surrounding college tuition discounting, and outlines sources of confusion, defines various discount types, provides historical background prior to recent changes in fund accounting rules, describes the new rules' impact, outlines different uses of tuition discounting by three groups, and applies the accumulated definitions to an…

38 CFR 9.5 - Payment of proceeds.

Code of Federal Regulations, 2011 CFR

2011-07-01

... rate. (b) If, following the death of an insured member who has designated both principal and contingent..., discounted to the date of his or her death at the same rate used for inclusion of interest in the computation... be paid in installments, the first installment will be payable as of the date of death. The amount of...

38 CFR 9.5 - Payment of proceeds.

Code of Federal Regulations, 2012 CFR

2012-07-01

... rate. (b) If, following the death of an insured member who has designated both principal and contingent..., discounted to the date of his or her death at the same rate used for inclusion of interest in the computation... be paid in installments, the first installment will be payable as of the date of death. The amount of...

77 FR 33181 - Large Residential Washers From the Republic of Korea: Preliminary Affirmative Countervailing Duty...

Federal Register 2010, 2011, 2012, 2013, 2014

2012-06-05

... does not include a rate for either the ``Korea Trade Insurance Corporation (K-SURE)-- Short-Term Export.... C. Benchmark Interest Rate for Short-Term Loans Section 771(5)(E)(ii) of the Act states that the... Development Bank (KDB)/IBK Short-Term Discounted Loans for Export Receivables'' program, an analysis of any...

Chronic cocaine exposure in adolescence: Effects on spatial discrimination reversal, delay discounting, and performance on fixed-ratio schedules in mice.

PubMed

Pope, Derek A; Boomhower, Steven R; Hutsell, Blake A; Teixeira, Kathryn M; Newland, M Christopher

2016-04-01

Adolescence is marked by the continued development of the neural pathways that support choice and decision-making, particularly those involving dopamine signaling. Cocaine exposure during adolescence may interfere with this development and manifest as increased perseveration and delay discounting in adulthood, behavioral processes that are related to drug addiction. Adolescent mice were exposed to 30mg/kg/day of cocaine (n=11) or saline vehicle (n=10) for 14days and behavior was assessed in adulthood. In Experiment 1, performance on a spatial-discrimination-reversal procedure was evaluated. In the first two sessions following the first reversal, cocaine-exposed mice produced more preservative errors relative to controls. In Experiment 2, cocaine-exposed mice displayed steeper delay discounting than saline-exposed mice, effects that were reversed by acute cocaine administration. Experiment 3 examined responding maintained by a range of fixed-ratio schedules of reinforcement. An analysis based on a theoretical framework called Mathematical Principles of Reinforcement (MPR) was applied to response-rate functions of individual mice. According to MPR, differences in response-rate functions in adulthood were due to a steepening of the delay-of-reinforcement gradient, disrupted motoric capacity (lower maximum response rates), and enhanced reinforcer efficacy for the adolescent cocaine- compared with saline-exposed mice. Overall, these experiments suggest that chronic exposure to cocaine during adolescence may impair different features of 'executive functions' in adulthood, and these may be related to distortions in the impact of reinforcing events. Copyright © 2016 Elsevier Inc. All rights reserved.

Genetic counselors’ implicit racial attitudes and their relationship to communication

PubMed Central

Schaa, Kendra L; Roter, Debra L; Biesecker, Barbara B; Cooper, Lisa A; Erby, Lori H

2015-01-01

Objective Implicit racial attitudes are thought to shape interpersonal interactions and may contribute to health care disparities. This study explored the relationship between genetic counselors’ implicit racial attitudes and their communication during simulated genetic counseling sessions. Methods A nationally representative sample of genetic counselors completed a web-based survey that included the Race Implicit Association Test (IAT). A subset of these counselors (n=67) had participated in an earlier study in which they were video recorded counseling Black, Hispanic and non-Hispanic White simulated clients (SC) about their prenatal or cancer risks. The counselors’ IAT scores were related to their session communication through robust regression modeling. Results Genetic counselors showed a moderate to strong pro-White bias on the Race IAT (M=0.41, SD=0.35). Counselors with stronger pro-White bias were rated as displaying lower levels of positive affect (p<.05) and tended to use less emotionally responsive communication (p<.10) when counseling minority SCs. When counseling White SCs, pro-White bias was associated with lower levels of verbal dominance during sessions (p<.10). Stronger pro-White bias was also associated with more positive ratings of counselors’ nonverbal effectiveness by White SCs. Conclusions Implicit racial bias is associated with negative markers of communication in minority client sessions and may contribute to racial disparities in processes of care related to genetic services. PMID:25622081

5 CFR 1315.7 - Discounts.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 5 Administrative Personnel 3 2010-01-01 2010-01-01 false Discounts. 1315.7 Section 1315.7 Administrative Personnel OFFICE OF MANAGEMENT AND BUDGET OMB DIRECTIVES PROMPT PAYMENT § 1315.7 Discounts. Agencies shall follow these procedures in taking discounts and determining the payment due dates when...

Decisional Bias as Implicit Moral Judgment

ERIC Educational Resources Information Center

Spring, Toni; Saltzstein, Herbert D.

2017-01-01

Decisional bias (false alarm rate) when judging the guilt/innocence of a suspect is offered as an implicit measure of moral judgment. Combining two data sets, 215 participants, ages 10-12, 13-15, and 16-18 watched the visually identical film involving a person setting a fire, framed either as (1) intentional but not resulting in a fire (BI-NF),…

Evaluations of Out-of-Role Implicit Behavior for Male and Female Managers.

ERIC Educational Resources Information Center

Remland, Martin; And Others

A study was conducted to examine whether androgynous individuals would view out-of-role implicit behavior by both male and female managers more positively than would either masculine or feminine individuals and whether low status behavior by the managers would be rated as being more considerate than high status behavior. Two weeks after completing…

High temporal discounters overvalue immediate rewards rather than undervalue future rewards: an event-related brain potential study.

PubMed

Cherniawsky, Avital S; Holroyd, Clay B

2013-03-01

Impulsivity is characterized in part by heightened sensitivity to immediate relative to future rewards. Although previous research has suggested that "high discounters" in intertemporal choice tasks tend to prefer immediate over future rewards because they devalue the latter, it remains possible that they instead overvalue immediate rewards. To investigate this question, we recorded the reward positivity, a component of the event-related brain potential (ERP) associated with reward processing, with participants engaged in a task in which they received both immediate and future rewards and nonrewards. The participants also completed a temporal discounting task without ERP recording. We found that immediate but not future rewards elicited the reward positivity. High discounters also produced larger reward positivities to immediate rewards than did low discounters, indicating that high discounters relatively overvalued immediate rewards. These findings suggest that high discounters may be more motivated than low discounters to work for monetary rewards, irrespective of the time of arrival of the incentives.

Impulsive social influence increases impulsive choices on a temporal discounting task in young adults.

PubMed

Gilman, Jodi M; Curran, Max T; Calderon, Vanessa; Stoeckel, Luke E; Evins, A Eden

2014-01-01

Adolescents and young adults who affiliate with friends who engage in impulsive behavior are more likely to engage in impulsive behaviors themselves, and those who associate with prosocial (i.e. more prudent, future oriented) peers are more likely to engage in prosocial behavior. However, it is difficult to disentangle the contribution of peer influence vs. peer selection (i.e., whether individuals choose friends with similar traits) when interpreting social behaviors. In this study, we combined a novel social manipulation with a well-validated delay discounting task assessing impulsive behavior to create a social influence delay discounting task, in which participants were exposed to both impulsive (smaller, sooner or SS payment) and non-impulsive (larger, later or LL payment) choices from their peers. Young adults in this sample, n = 51, aged 18-25 had a higher rate of SS choices after exposure to impulsive peer influence than after exposure to non-impulsive peer influence. Interestingly, in highly susceptible individuals, the rate of non-impulsive choices did not increase after exposure to non-impulsive influence. There was a positive correlation between self-reported suggestibility and degree of peer influence on SS choices. These results suggest that, in young adults, SS choices appear to be influenced by the choices of same-aged peers, especially for individuals who are highly susceptible to influence.

Impulsive Social Influence Increases Impulsive Choices on a Temporal Discounting Task in Young Adults

PubMed Central

Gilman, Jodi M.; Curran, Max T.; Calderon, Vanessa; Stoeckel, Luke E.; Evins, A. Eden

2014-01-01

Adolescents and young adults who affiliate with friends who engage in impulsive behavior are more likely to engage in impulsive behaviors themselves, and those who associate with prosocial (i.e. more prudent, future oriented) peers are more likely to engage in prosocial behavior. However, it is difficult to disentangle the contribution of peer influence vs. peer selection (i.e., whether individuals choose friends with similar traits) when interpreting social behaviors. In this study, we combined a novel social manipulation with a well-validated delay discounting task assessing impulsive behavior to create a social influence delay discounting task, in which participants were exposed to both impulsive (smaller, sooner or SS payment) and non-impulsive (larger, later or LL payment) choices from their peers. Young adults in this sample, n = 51, aged 18–25 had a higher rate of SS choices after exposure to impulsive peer influence than after exposure to non-impulsive peer influence. Interestingly, in highly susceptible individuals, the rate of non-impulsive choices did not increase after exposure to non-impulsive influence. There was a positive correlation between self-reported suggestibility and degree of peer influence on SS choices. These results suggest that, in young adults, SS choices appear to be influenced by the choices of same-aged peers, especially for individuals who are highly susceptible to influence. PMID:24988440

The total lifetime costs of smoking.

PubMed

Rasmussen, Susanne R; Prescott, Eva; Sørensen, Thorkild I A; Søgaard, Jes

2004-03-01

Net costs of smoking in a lifetime perspective and, hence, the economic interests in antismoking policies have been questioned. It has been proposed that the health-related costs of smoking are balanced by smaller expenditure due to shorter life expectancy. A dynamic (life cycle) method taking differences in life expectancy into account. Main outcome measures were direct and indirect lifetime health costs for ever-smokers and never-smokers, and cost ratios (ever-smokers to never-smokers). The estimations were based on annual disease rates of use of the healthcare services, smoking relative risks, smoking prevalences, and costs. Annual direct and indirect costs of ever-smokers were higher than for never-smokers in all age groups of both genders. The direct and indirect cost ratios were highest at age 45 for women, and at age 35 and 40 for men, respectively. Taking life expectancy differences into account, direct and indirect lifetime health costs for men aged 35, discounted by 5% per year were 66% and 83% higher in ever-smokers than in never-smokers. Corresponding results for women were 74% and 79%, respectively. The results are insensitive to a broad range of relative risk-estimates and discount rates including no discounting. Excess costs of ever-smokers disappear if the inclusion of smoking-related diseases is narrowed to that of previous studies. Smoking imposes costs to society even when taking life expectancy into consideration--both in direct and indirect costs.

Value-based decision-making battery: A Bayesian adaptive approach to assess impulsive and risky behavior.

PubMed

Pooseh, Shakoor; Bernhardt, Nadine; Guevara, Alvaro; Huys, Quentin J M; Smolka, Michael N

2018-02-01

Using simple mathematical models of choice behavior, we present a Bayesian adaptive algorithm to assess measures of impulsive and risky decision making. Practically, these measures are characterized by discounting rates and are used to classify individuals or population groups, to distinguish unhealthy behavior, and to predict developmental courses. However, a constant demand for improved tools to assess these constructs remains unanswered. The algorithm is based on trial-by-trial observations. At each step, a choice is made between immediate (certain) and delayed (risky) options. Then the current parameter estimates are updated by the likelihood of observing the choice, and the next offers are provided from the indifference point, so that they will acquire the most informative data based on the current parameter estimates. The procedure continues for a certain number of trials in order to reach a stable estimation. The algorithm is discussed in detail for the delay discounting case, and results from decision making under risk for gains, losses, and mixed prospects are also provided. Simulated experiments using prescribed parameter values were performed to justify the algorithm in terms of the reproducibility of its parameters for individual assessments, and to test the reliability of the estimation procedure in a group-level analysis. The algorithm was implemented as an experimental battery to measure temporal and probability discounting rates together with loss aversion, and was tested on a healthy participant sample.

The influence of violent and nonviolent computer games on implicit measures of aggressiveness.

PubMed

Bluemke, Matthias; Friedrich, Monika; Zumbach, Joerg

2010-01-01

We examined the causal relationship between playing violent video games and increases in aggressiveness by using implicit measures of aggressiveness, which have become important for accurately predicting impulsive behavioral tendencies. Ninety-six adults were randomly assigned to play one of three versions of a computer game that differed only with regard to game content (violent, peaceful, or abstract game), or to work on a reading task. In the games the environmental context, mouse gestures, and physiological arousal-as indicated by heart rate and skin conductance-were kept constant. In the violent game soldiers had to be shot, in the peaceful game sunflowers had to be watered, and the abstract game simply required clicking colored triangles. Five minutes of play did not alter trait aggressiveness, yet an Implicit Association Test detected a change in implicit aggressive self-concept. Playing a violent game produced a significant increase in implicit aggressive self-concept relative to playing a peaceful game. The well-controlled study closes a gap in the research on the causality of the link between violence exposure in computer games and aggressiveness with specific regard to implicit measures. We discuss the significance of importing recent social-cognitive theory into aggression research and stress the need for further development of aggression-related implicit measures.

Development and Verification of the Charring Ablating Thermal Protection Implicit System Solver

NASA Technical Reports Server (NTRS)

Amar, Adam J.; Calvert, Nathan D.; Kirk, Benjamin S.

2010-01-01

The development and verification of the Charring Ablating Thermal Protection Implicit System Solver is presented. This work concentrates on the derivation and verification of the stationary grid terms in the equations that govern three-dimensional heat and mass transfer for charring thermal protection systems including pyrolysis gas flow through the porous char layer. The governing equations are discretized according to the Galerkin finite element method with first and second order implicit time integrators. The governing equations are fully coupled and are solved in parallel via Newton's method, while the fully implicit linear system is solved with the Generalized Minimal Residual method. Verification results from exact solutions and the Method of Manufactured Solutions are presented to show spatial and temporal orders of accuracy as well as nonlinear convergence rates.

Causes of ADHD | NIH MedlinePlus the Magazine

MedlinePlus

... this page please turn JavaScript on. Feature: Understanding ADHD Causes of ADHD Past Issues / Spring 2014 Table of Contents Scientists ... research discounts this theory than supports it. Diagnosing ADHD Children mature at different rates and have different ...

Economic Value of Narrowing the Uncertainty in Climate Sensitivity: Decadal Change in Shortwave Cloud Radiative Forcing and Low Cloud Feedback

NASA Astrophysics Data System (ADS)

Wielicki, B. A.; Cooke, R. M.; Golub, A. A.; Mlynczak, M. G.; Young, D. F.; Baize, R. R.

2016-12-01

Several previous studies have been published on the economic value of narrowing the uncertainty in climate sensitivity (Cooke et al. 2015, Cooke et al. 2016, Hope, 2015). All three of these studies estimated roughly 10 Trillion U.S. dollars for the Net Present Value and Real Option Value at a discount rate of 3%. This discount rate is the nominal discount rate used in the U.S. Social Cost of Carbon Memo (2010). The Cooke et al studies approached this problem by examining advances in accuracy of global temperature measurements, while the Hope 2015 study did not address the type of observations required. While temperature change is related to climate sensitivity, large uncertainties of a factor of 3 in current anthropogenic radiative forcing (IPCC, 2013) would need to be solved for advanced decadal temperature change observations to assist the challenge of narrowing climate sensitivity. The present study takes a new approach by extending the Cooke et al. 2015,2016 papers to replace observations of temperature change to observations of decadal change in the effects of changing clouds on the Earths radiative energy balance, a measurement known as Cloud Radiative Forcing, or Cloud Radiative Effect. Decadal change in this observation is direclty related to the largest uncertainty in climate sensitivity which is cloud feedback from changing amount of low clouds, primarily low clouds over the world's oceans. As a result, decadal changes in shortwave cloud radiative forcing are more directly related to cloud feedback uncertainty which is the dominant uncertainty in climate sensitivity. This paper will show results for the new approach, and allow an examination of the sensitivity of economic value results to different observations used as a constraint on uncertainty in climate sensitivity. The analysis suggests roughly a doubling of economic value to 20 Trillion Net Present Value or Real Option Value at 3% discount rate. The higher economic value results from two changes: a larger increase in accuracy for SW cloud radiative forcing vs temperature, and from a lower confounding noise from natural variability in the cloud radiative forcing variable compared to temperature. In particular, global average temperature is much more sensitive to the climate noise of ENSO cycles.

Feasibility and Costs of Natural Gas as a Bridge to Deep Decarbonization in the United States

NASA Astrophysics Data System (ADS)

Jones, A. D.; McJeon, H. C.; Muratori, M.; Shi, W.

2015-12-01

Achieving emissions reductions consistent with a 2 degree Celsius global warming target requires nearly complete replacement of traditional fossil fuel combustion with near-zero carbon energy technologies in the United States by 2050. There are multiple technological change pathways consistent with this deep decarbonization, including strategies that rely on renewable energy, nuclear, and carbon capture and storage (CCS) technologies. The replacement of coal-fired power plants with natural gas-fired power plants has also been suggested as a bridge strategy to achieve near-term emissions reduction targets. These gas plants, however, would need to be replaced by near-zero energy technologies or retrofitted with CCS by 2050 in order to achieve longer-term targets. Here we examine the costs and feasibility of a natural gas bridge strategy. Using the Global Change Assessment (GCAM) model, we develop multiple scenarios that each meet the recent US Intended Nationally Determined Contribution (INDC) to reduce GHG emissions by 26%-28% below its 2005 levels in 2025, as well as a deep decarbonization target of 80% emissions reductions below 1990 levels by 2050. We find that the gas bridge strategy requires that gas plants be retired on average 20 years earlier than their designed lifetime of 45 years, a potentially challenging outcome to achieve from a policy perspective. Using a more idealized model, we examine the net energy system costs of this gas bridge strategy compared to one in which near-zero energy technologies are deployed in the near tem. We explore the sensitivity of these cost results to four factors: the discount rate applied to future costs, the length (or start year) of the gas bridge, the relative capital cost of natural gas vs. near-zero energy technology, and the fuel price of natural gas. The discount rate and cost factors are found to be more important than the length of the bridge. However, we find an important interaction as well. At low discount rates, the gas bridge is more expensive and a shorter bridge is preferred. At high discount rates, the gas bridge is less expensive and a longer bridge is preferred. This result indicates that the valuation of future expenditures relative to present day expenditures is a major factor in determining the merits of a gas bridge strategy.

48 CFR 952.251-70 - Contractor employee travel discounts.

Code of Federal Regulations, 2010 CFR

2010-10-01

... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Contractor employee travel... Contractor employee travel discounts. As prescribed in 951.7002, insert the following clause: Contractor Employee Travel Discounts (AUG 2009) (a) The Contractor shall take advantage of travel discounts offered to...

Implicit learning deficit in children with Duchenne muscular dystrophy: Evidence for a cerebellar cognitive impairment?

PubMed

Vicari, Stefano; Piccini, Giorgia; Mercuri, Eugenio; Battini, Roberta; Chieffo, Daniela; Bulgheroni, Sara; Pecini, Chiara; Lucibello, Simona; Lenzi, Sara; Moriconi, Federica; Pane, Marika; D'Amico, Adele; Astrea, Guja; Baranello, Giovanni; Riva, Daria; Cioni, Giovanni; Alfieri, Paolo

2018-01-01

This study aimed at comparing implicit sequence learning in individuals affected by Duchenne Muscular Dystrophy without intellectual disability and age-matched typically developing children. A modified version of the Serial Reaction Time task was administered to 32 Duchenne children and 37 controls of comparable chronological age. The Duchenne group showed a reduced rate of implicit learning even if in the absence of global intellectual disability. This finding provides further evidence of the involvement of specific aspects of cognitive function in Duchenne muscular dystrophy and on its possible neurobiological substrate.

Delay discounting of oral morphine and sweetened juice rewards in dependent and non-dependent rats.

PubMed

Harvey-Lewis, Colin; Perdrizet, Johnna; Franklin, Keith B J

2014-07-01

Opioid-dependent humans are reported to show accelerated delay discounting of opioid rewards when compared to monetary rewards. It has been suggested that this may reflect a difference in discounting of consumable and non-consumable goods not specific to dependent individuals. Here, we evaluate the discounting of similar morphine and non-morphine oral rewards in dependent and non-dependent rats We first tested the analgesic and rewarding effects of our morphine solution. In a second experiment, we assigned rats randomly to either dependent or non-dependent groups that, 30 min after daily testing, received 30 mg/kg subcutaneous dose of morphine, or saline, respectively. Delay discounting of drug-free reward was examined prior to initiation of the dosing regimen. We tested discounting of the morphine reward in half the rats and retested the discounting of the drug-free reward in the other half. All tests were run 22.5 h after the daily maintenance dose. Rats preferred the morphine cocktail to the drug-free solution and consumed enough to induce significant analgesia. The control quinine solution did not produce these effects. Dependent rats discounted morphine rewards more rapidly than before dependence and when compared to discounting drug-free rewards. In non-dependent rats both reward types were discounted similarly. These results show that morphine dependence increases impulsiveness specifically towards a drug reward while morphine experience without dependence does not.

Payers' experiences with confidential pharmaceutical price discounts: A survey of public and statutory health systems in North America, Europe, and Australasia.

PubMed

Morgan, Steven G; Vogler, Sabine; Wagner, Anita K

2017-04-01

Institutional payers for pharmaceuticals worldwide appear to be increasingly negotiating confidential discounts off of the official list price of pharmaceuticals purchased in the community setting. We conducted an anonymous survey about experiences with and attitudes toward confidential discounts on patented pharmaceuticals in a sample of high-income countries. Confidential price discounts are now common among the ten health systems that participated in our study, though some had only recently begun to use these pricing arrangements on a routine basis. Several health systems had used a wide variety of discounting schemes in the past two years. The most frequent discount received by participating health systems was between 20% and 29% of official list prices; however, six participants reported their health system received one or more discount over the past two years that was valued at 60% or more of the list prices. On average, participants reported that confidential discounts were more common, complex, and significant for specialty pharmaceuticals than for primary care pharmaceuticals. Participants had a more favorable view of the impact of confidential discount schemes on their health systems than on the global marketplace. Overall, the frequency, complexity, and scale of confidential discounts being routinely negotiated suggest that the list prices for medicines bear limited resemblance to what many institutional payers actually pay. Copyright © 2017 The Authors. Published by Elsevier B.V. All rights reserved.

The self-protective nature of implicit identity and its relationship to weight bias and short-term weight loss.

PubMed

Carels, Robert A; Hinman, Nova; Koball, Afton; Oehlhof, Marissa Wagner; Gumble, Amanda; Young, Kathleen M

2011-01-01

Research suggests that making overly positive self-evaluations is the norm rather than the exception. However, unlike other stigmatized groups, overweight individuals do not exhibit a positive in-group social identity and instead exhibit significant explicit, implicit, and internalized weight bias. Therefore, it is not known whether overweight/obese individuals will evidence self-enhancement on general traits (good, attractive), or on traits inconsistent with fat stereotypes (disciplined, active, healthy eater), on an assessment of implicit attitudes. Similarly, it is not known whether these ratings will be associated with preexisting levels of weight bias, gender, or short-term weight loss. At baseline, 53 overweight/obese adults (BMI > 27 kg/m(2), mean BMI = 37.3 kg/m(2), SD = 6.6 kg/m(2), 89% Caucasian, and 77% female) participating in a weight loss intervention completed measures of explicit and internalized weight bias as well as implicit weight bias and identity (self-other comparisons). Although participants evidenced significant anti-fat attitudes, they implicitly identified themselves as significantly thinner, better, more attractive, active, disciplined, and more likely to eat healthy than 'other' people. Compared to men, women were less likely to view themselves as thin and attractive relative to others. Greater implicit anti-fat bias and implicitly seeing the self as thin relative to others was associated with less short-term weight loss. Despite evidence for explicit, implicit, and internalized weight bias, participants generally evidenced a positive implicit self-identity, including areas consistent with negative fat stereotypes. Copyright © 2011 S. Karger AG, Basel.

The Role of Bias by Emergency Department Providers in Care for American Indian Children.

PubMed

Puumala, Susan E; Burgess, Katherine M; Kharbanda, Anupam B; Zook, Heather G; Castille, Dorothy M; Pickner, Wyatt J; Payne, Nathaniel R

2016-06-01

American Indian children have high rates of emergency department (ED) use and face potential discrimination in health care settings. Our goal was to assess both implicit and explicit racial bias and examine their relationship with clinical care. We performed a cross-sectional survey of care providers at 5 hospitals in the Upper Midwest. Questions included American Indian stereotypes (explicit attitudes), clinical vignettes, and the Implicit Association Test. Two Implicit Association Tests were created to assess implicit bias toward the child or the parent/caregiver. Differences were assessed using linear and logistic regression models with a random effect for study site. A total of 154 care providers completed the survey. Agreement with negative American Indian stereotypes was 22%-32%. Overall, 84% of providers had an implicit preference for non-Hispanic white adults or children. Older providers (50 y and above) had lower implicit bias than those middle aged (30-49 y) (P=0.01). American Indian children were seen as increasingly challenging (P=0.04) and parents/caregivers less compliant (P=0.002) as the proportion of American Indian children seen in the ED increased. Responses to the vignettes were not related to implicit or explicit bias. The majority of ED care providers had an implicit preference for non-Hispanic white children or adults compared with those who were American Indian. Provider agreement with negative American Indian stereotypes differed by practice and respondents' characteristics. These findings require additional study to determine how these implicit and explicit biases influence health care or outcomes disparities.

AIDS is an exception to bus system's offer of lower fares.

PubMed

1997-05-02

The American Civil Liberties Union (ACLU) sued the Metro Link bus system in Rock Island, IL on behalf of [name removed]. The suit claims that the bus system explicitly excludes people with AIDS from a reduced-rate fare program for riders with disabilities. Currently, Metro Link offers a discount to senior citizens or people with disabilities who have documentation. The application for the discount specifically rules out people whose sole disability is AIDS. [Name removed] asked Metro Link to eliminate the exclusion. When the request was refused, the ACLU sued, alleging a violation of the Americans with Disabilities Act (ADA), the Rehabilitation Act, and [name removed]'s constitutional right to equal protection under the law.

Recollective performance advantages for implicit memory tasks.

PubMed

Sheldon, Signy A M; Moscovitch, Morris

2010-10-01

A commonly held assumption is that processes underlying explicit and implicit memory are distinct. Recent evidence, however, suggests that they may interact more than previously believed. Using the remember-know procedure the current study examines the relation between recollection, a process thought to be exclusive to explicit memory, and performance on two implicit memory tasks, lexical decision and word stem completion. We found that, for both implicit tasks, words that were recollected were associated with greater priming effects than were words given a subsequent familiarity rating or words that had been studied but were not recognised (misses). Broadly, our results suggest that non-voluntary processes underlying explicit memory also benefit priming, a measure of implicit memory. More specifically, given that this benefit was due to a particular aspect of explicit memory (recollection), these results are consistent with some strength models of memory and with Moscovitch's (2008) proposal that recollection is a two-stage process, one rapid and unconscious and the other more effortful and conscious.

Implicit emotion regulation affects outcome evaluation

PubMed Central

Yang, Qiwei; Tang, Ping; Luo, Wenbo; Luo, Yue-jia

2015-01-01

Efficient implicit emotion regulation processes, which run without awareness, are important for human well-being. In this study, to investigate the influence of implicit emotion regulation on psychological and electrophysiological responses to gains and losses, participants were required to select between two Chinese four-character idioms to match the meaning of the third one before they performed a monetary gambling task. According to whether their meanings were related to emotion regulation, the idioms fell into two categories. Event-related potentials and self-rating emotional experiences to outcome feedback were recorded during the task. Priming emotion regulation reduced subjective emotional experience to both gains and losses and the amplitudes of the feedback-related negativity, while the P3 component was not influenced. According to these results, we suggest that the application of implicit emotion regulation effectively modulated the subjective emotional experience and the motivational salience of current outcomes without the cost of cognitive resources. This study implicates the potential significance of implicit emotion regulation in decision-making processes. PMID:25332404

Delay Discounting and Social Policy Issues

ERIC Educational Resources Information Center

Weatherly, Jeffrey N.; Plumm, Karyn M.; Derenne, Adam

2011-01-01

The present study used a delay discounting framework to study decisions about six social policy issues and one monetary outcome. For outcomes that nearly all participants discounted, social policies were discounted significantly more than money. A similar result was observed when analyzing all outcomes using data only from participants who…

Modeling the Effect of Reward Amount on Probability Discounting

ERIC Educational Resources Information Center

Myerson, Joel; Green, Leonard; Morris, Joshua

2011-01-01

The present study with college students examined the effect of amount on the discounting of probabilistic monetary rewards. A hyperboloid function accurately described the discounting of hypothetical rewards ranging in amount from $20 to $10,000,000. The degree of discounting increased continuously with amount of probabilistic reward. This effect…

7 CFR 1786.98 - Discounted present value.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 12 2010-01-01 2010-01-01 false Discounted present value. 1786.98 Section 1786.98... Discounted present value. (a) The Discounted Present Value shall be calculated by RUS before prepayment is made by summing the present values of all remaining payments on all outstanding notes according to the...

MULTIPLE DISCOUNT RATES: THE INFLUENCE OF DECISION CONTEXT. (R827931)

EPA Science Inventory

The perspectives, information and conclusions conveyed in research project abstracts, progress reports, final reports, journal abstracts and journal publications convey the viewpoints of the principal investigator and may not represent the views and policies of ORD and EPA. Concl...

Effects of Visual Feedback Distortion on Gait Adaptation: Comparison of Implicit Visual Distortion Versus Conscious Modulation on Retention of Motor Learning.

PubMed

Kim, Seung-Jae; Ogilvie, Mitchell; Shimabukuro, Nathan; Stewart, Trevor; Shin, Joon-Ho

2015-09-01

Visual feedback can be used during gait rehabilitation to improve the efficacy of training. We presented a paradigm called visual feedback distortion; the visual representation of step length was manipulated during treadmill walking. Our prior work demonstrated that an implicit distortion of visual feedback of step length entails an unintentional adaptive process in the subjects' spatial gait pattern. Here, we investigated whether the implicit visual feedback distortion, versus conscious correction, promotes efficient locomotor adaptation that relates to greater retention of a task. Thirteen healthy subjects were studied under two conditions: (1) we implicitly distorted the visual representation of their gait symmetry over 14 min, and (2) with help of visual feedback, subjects were told to walk on the treadmill with the intent of attaining the gait asymmetry observed during the first implicit trial. After adaptation, the visual feedback was removed while subjects continued walking normally. Over this 6-min period, retention of preserved asymmetric pattern was assessed. We found that there was a greater retention rate during the implicit distortion trial than that of the visually guided conscious modulation trial. This study highlights the important role of implicit learning in the context of gait rehabilitation by demonstrating that training with implicit visual feedback distortion may produce longer lasting effects. This suggests that using visual feedback distortion could improve the effectiveness of treadmill rehabilitation processes by influencing the retention of motor skills.

A Mechanism for Reducing Delay Discounting by Altering Temporal Attention

ERIC Educational Resources Information Center

Radu, Peter T.; Yi, Richard; Bickel, Warren K.; Gross, James J.; McClure, Samuel M.

2011-01-01

Rewards that are not immediately available are discounted compared to rewards that are immediately available. The more a person discounts a delayed reward, the more likely that person is to have a range of behavioral problems, including clinical disorders. This latter observation has motivated the search for ions that reduce discounting. One…

Implicit Theories of Creativity in Computer Science in the United States and China

ERIC Educational Resources Information Center

Tang, Chaoying; Baer, John; Kaufman, James C.

2015-01-01

To study implicit concepts of creativity in computer science in the United States and mainland China, we first asked 308 Chinese computer scientists for adjectives that would describe a creative computer scientist. Computer scientists and non-computer scientists from China (N = 1069) and the United States (N = 971) then rated how well those…

Mild opioid deprivation increases the degree that opioid-dependent outpatients discount delayed heroin and money.

PubMed

Giordano, Louis A; Bickel, Warren K; Loewenstein, George; Jacobs, Eric A; Marsch, Lisa; Badger, Gary J

2002-09-01

A growing literature suggests that excessive temporal discounting of delayed rewards may be a contributing factor in the etiology of substance abuse problems. Little is known, however, about how drug deprivation may affect temporal discounting of delayed rewards by drug-dependent individuals. To examine the extent to which opioid deprivation affects how opioid-dependent individuals discount small, medium and large quantities of delayed heroin and money. Thirteen opioid-dependent individuals maintained on buprenorphine completed a hypothetical choice task in which they choose between a constant delayed reward amount and an immediate reward amount that was adjusted until they expressed indifference between both outcomes. The task was completed for three values of heroin and money rewards during eight sessions under conditions of opioid deprivation (four sessions) and satiation (four sessions). Across conditions, hyperbolic functions provided a good fit for the discounting data. Degree of discounting was significantly higher when subjects were opioid deprived. Consistent with previous findings, degree of discounting was higher for heroin than money and inversely related to the magnitude of the reward. Opioid deprivation increased the degree to which dependent individuals discounted delayed heroin and money. Understanding the conditions that affect how drug-dependent individuals discount delayed rewards might help us understand the myopic choices made by such individuals and help improve treatment outcomes.

Cross-promotional alcohol discounting in Australia's grocery sector: a barrier to initiatives to curb excessive alcohol consumption?

PubMed

Wardle, Jonathan L; Chang, Sungwon

2015-04-01

Excessive alcohol consumption is an increasing issue internationally. Pricing strategies, including discount restrictions, have been identified as one of the most effective policy means by which to reduce heavy alcohol consumption. In Australia, cross-promotional alcohol discounts are increasingly used by supermarket chains as a marketing tool. The purpose of the present study is to provide preliminary data on the nature and extent of cross-promotional alcohol discounting in the Australian grocery sector. A purposive sample of 34 supermarkets in Australia's three largest cities was selected and minor grocery purchases made to uncover the prevalence and level of cross-promotional alcohol discounting. Cross-promotional 'bundled' discounts were very common with 33 of the 34 supermarkets offering a 'two for one' discount on bottles of wine. Even with minor purchases (mean purchase $1.35), the mean value of discounts received was substantial ($16.23). These results appear to be consistent with claims that major supermarket chains are using alcohol discounts as loss leaders to entice new consumers. These strategies are antithetical to public health strategies aimed at reducing excessive alcohol consumption. Further examination of the impact of major retailers on public health initiatives is warranted, particularly in light of increasing retailer concentration. © 2014 Public Health Association of Australia.

Supermarket discounts of low-energy density foods: effects on purchasing, food intake, and body weight.

PubMed

Geliebter, Allan; Ang, Ian Yi Han; Bernales-Korins, Maria; Hernandez, Dominica; Ochner, Christopher N; Ungredda, Tatiana; Miller, Rachel; Kolbe, Laura

2013-12-01

To assess the effects of a 50% discount on low-energy density (ED) fruits and vegetables (F&V), bottled water, and diet sodas on shoppers' purchasing, food intake, and body weight. A randomized, controlled trial was conducted at two Manhattan supermarkets, in which a 4-week baseline period (no discounts) preceded an 8-week intervention period (50% discount), and a 4-week follow-up period (no discounts). Twenty-four hour dietary recall, as well as body weight and body composition measures were obtained every 4 weeks. Participants (n = 47, 33f; 14m) were overweight and obese (BMI ≥ 25) shoppers. Purchasing of F&V during intervention was greater in the discount group than in the control group (P < 0.0001). Purchasing of these items by the discount group relative to the control group during follow-up was reduced from intervention (P = 0.002), but still remained higher than during baseline (P = 0.01), indicating a partially sustained effect. Intake of F&V increased from baseline to intervention in the discount group relative to the control group (P = 0.037) and was sustained during follow-up. Body weight change did not differ significantly between groups, although post hoc analysis indicated a change within the discount group (-1.1 kg, P = 0.006) but not within the control group. Discounts of low-ED F&V led to increased purchasing and intake of those foods. Copyright © 2013 The Obesity Society.

Measurement and validation of measures for impulsive food choice across obese and healthy-weight individuals.

PubMed

Hendrickson, Kelsie L; Rasmussen, Erin B; Lawyer, Steven R

2015-07-01

The present study established a brief measure of delay discounting for food, the Food Choice Questionnaire (FCQ), and compared it to another more established measure of food discounting that uses the adjusting amount (AA) procedure. One hundred forty-four undergraduate participants completed either two measures of hypothetical food discounting (a computerized food AA procedure or the FCQ) or two measures of hypothetical money discounting [a computerized monetary AA procedure or the Monetary Choice questionnaire (MCQ)]. The money condition was used as a replication of previous work. Results indicated that the FCQ yielded consistent data that strongly correlated with the AA food discounting task. Moreover, a magnitude effect was found with the FCQ, such that smaller amounts of food were discounted more steeply than larger amounts. In addition, individuals with higher percent body fat (PBF) discounted food more steeply than individuals with lower PBF. The MCQ, which also produced a magnitude effect, and the monetary adjusting amount procedure yielded data that were orderly, consistent, and correlated strongly with one another, replicating previous literature. This study is the first to show that a novel measure of food discounting (the FCQ) yields consistent data strongly correlated with an established measure of food discounting and is sensitive to PBF. Moreover, the FCQ is easier and quicker to administer than the AA procedure, which may interest researchers who use discounting tasks in food-related research. Copyright © 2015 Elsevier Ltd. All rights reserved.

77 FR 45582 - Certain Pasta From Italy: Preliminary Results of the 15th (2010) Countervailing Duty...

Federal Register 2010, 2011, 2012, 2013, 2014

2012-08-01

... of the loan (e.g., short-term v. long-term), and the currency in which the loan is denominated...'s subsidies to the sales of Tomasello only. Benchmarks for Long-Term Loans and Discount Rates Loan..., the long-term interest rate calculated according to the methodology described above for the year in...

On the optimal production capacity for influenza vaccine.

PubMed

Forslid, Rikard; Herzing, Mathias

2015-06-01

This paper analyzes the profit maximizing capacity choice of a monopolistic vaccine producer facing the uncertain event of a pandemic in a homogenous population of forward-looking individuals. For any capacity level, the monopolist solves the intertemporal price discrimination problem within the dynamic setting generated by the standard mathematical epidemiological model of infectious diseases. Even though consumers are assumed to be identical, the monopolist will be able to exploit the ex post heterogeneity between infected and susceptible individuals by raising the price of vaccine in response to the increasing hazard rate. The monopolist thus bases its investment decision on the expected profits from the optimal price path given the infection dynamics. It is shown that the monopolist will always choose to invest in a lower production capacity than the social planner. Through numerical simulation, it is demonstrated how the loss to society of having a monopoly producer decreases with the speed of infection transmission. Moreover, it is illustrated how the monopolist's optimal vaccination rate increases as its discount rate rises for cost parameters based on Swedish data. However, the effect of the firm discount rate on its investment decision is sensitive to assumptions regarding the cost of production capacity. Copyright © 2014 John Wiley & Sons, Ltd.

Integration of orthographic, conceptual, and episodic information on implicit and explicit tests.

PubMed

Weldon, M S; Massaro, D W

1996-03-01

An experiment was conducted to determine how orthographic and conceptual information are integrated during incidental and intentional retrieval. Subjects studied word lists with either a shallow (counting vowels) or deep (rating pleasantness) processing task, then received either an implicit or explicit word fragment completion (WFC) test. At test, word fragments contained 0, 1, 2, or 4 letters, and were accompanied by 0, 1, 2, or 3 semantically related words. On both the implicit and explicit tests, performance improved with increases in the numbers of letters and words. When semantic cues were presented with the word fragments, the implicit test became more conceptually drive. Still, conceptual processing had a larger effect in intentional than in incidental retrieval. The Fuzzy Logical Model of Perception (FLMP) provided a good description of how orthographic, semantic, and episodic information were combined during retrieval.

Implicit Total Variation Diminishing (TVD) schemes for steady-state calculations

NASA Technical Reports Server (NTRS)

Yee, H. C.; Warming, R. F.; Harten, A.

1983-01-01

The application of a new implicit unconditionally stable high resolution total variation diminishing (TVD) scheme to steady state calculations. It is a member of a one parameter family of explicit and implicit second order accurate schemes developed by Harten for the computation of weak solutions of hyperbolic conservation laws. This scheme is guaranteed not to generate spurious oscillations for a nonlinear scalar equation and a constant coefficient system. Numerical experiments show that this scheme not only has a rapid convergence rate, but also generates a highly resolved approximation to the steady state solution. A detailed implementation of the implicit scheme for the one and two dimensional compressible inviscid equations of gas dynamics is presented. Some numerical computations of one and two dimensional fluid flows containing shocks demonstrate the efficiency and accuracy of this new scheme.