Article
Multidisciplinary Sciences
Kimberley van der Heijden, Anouk Festjens, Caroline Goukens, Tom Meyvis
Summary: Previous studies have shown that financial strain affects individuals' preferences, but traditional choice tasks may not accurately capture the time preferences of financially constrained individuals.
PROCEEDINGS OF THE NATIONAL ACADEMY OF SCIENCES OF THE UNITED STATES OF AMERICA
(2022)
Article
Psychology, Multidisciplinary
Hongxia Li, Wen Shan
Summary: This study conducted three experiments to investigate the impact of emotion priming on intertemporal choice among Internet addicts and normal Internet users. The results showed that subjective value was significantly lower for Internet addicts compared to normal Internet users. Positive emotions and expected joy enhanced long-term goals and greater rewards focus on intertemporal decision-making, whereas negative emotions and expected regret had the opposite effect. Current joy facilitated short-term goals, while current regret had the opposite effect.
FRONTIERS IN PSYCHOLOGY
(2022)
Article
Psychology
Ellen R. K. Evers, Alex Imas, Christy Kang
Summary: This study introduces a categorization-based model of mental accounting, where outcomes overlapping on salient attributes are automatically assigned to the same mental account. The hedonic accounting hypothesis derived from this model generates testable behavioral predictions on people's preferences over the timing of outcomes, which are supported by six empirical studies.
PSYCHOLOGICAL REVIEW
(2022)
Article
Psychology, Multidisciplinary
He-Lin Wei, Chen-Ying Hai, Shao-Ying Zhu, Bei Lyu
Summary: This study explores how consumers' choice deferral behavior influences their intertemporal choice preference through the level of hopefulness. The level of hopefulness is moderated by perceived information integrity, with low integrity enhancing the effect of hopefulness on intertemporal decision preference. Theoretical and practical significance, as well as future research prospects, are discussed.
FRONTIERS IN PSYCHOLOGY
(2021)
Article
Economics
Daniele Pennesi
Summary: This paper discusses the superiority of the discounted Luce model over the discounted logit model in intertemporal choice, highlighting its advantages in monotonicity and compatibility with weak stationarity of choice probabilities. The discounted Luce model provides more accurate estimates of preference parameters compared to the discounted logit model.
JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION
(2021)
Article
Management
Geoffrey Fisher
Summary: Intertemporal discount rates vary widely due to differences in visual attention allocation during decision-making. Experimental findings suggest that variations in attention allocation can explain differences in discounting across individuals and influence decision making and purchasing behavior.
MANAGEMENT SCIENCE
(2021)
Article
Psychology
Junsong Lu, Jiayi Yao, Zehui Zhou, X. T. (XiaoTian) Wang
Summary: A long-running debate about the developmental trajectory of delay discounting has received growing attention since 1994. Based on meta-analyses of 178 effect sizes from 105 articles, we found that delay discounting decreased with advancing age, but there was a U-shaped function, with middle-aged people having the lowest delay discounting level. We also proposed a new framework based on life history theory and the antagonistic pleiotropy hypothesis to explain the development of delay discounting.
PSYCHOLOGICAL BULLETIN
(2023)
Article
Neurosciences
Tao Suo, Xuji Jia, Xiyan Song, Lei Liu
Summary: This study examined how anger and sadness influence intertemporal choices, finding that anger prime led to a preference for delayed rewards and shorter response times for difficult choices, while sad prime did not change choice preferences. The ERP results showed differential effects of anger and sadness on intertemporal choices.
FRONTIERS IN NEUROSCIENCE
(2021)
Article
Management
James Andreoni, Marta Serra-Garcia
Summary: This paper demonstrates that pledges can be used to screen donors and understand their motives for giving, which can help nonprofit managers better target future charitable giving appeals and interventions. The option to pledge gifts induces self-selection and targeting expressions of gratitude to individuals who select into pledges can significantly reduce reneging behavior, providing an explanation for the potential usefulness of pledges.
MANAGEMENT SCIENCE
(2021)
Article
Management
Zhihua Li, Songfa Zhong
Summary: This study examines the reference dependence in intertemporal choices using choice lists. The authors find that reference point effects can arise both within outcome sequences and from the experimental environment of choice lists. They propose a model that can account for both types of reference points and estimate the discount factor and utility curvature.
MANAGEMENT SCIENCE
(2023)
Article
Management
Han Bleichrodt, Rogier J. D. Potter van Loon, Drazen Prelec
Summary: This paper introduces a new index tau as a measure of time inconsistency and vulnerability to self-control problems in the quasi-hyperbolic beta-delta discounting model. By providing a preference foundation for tau and revealing a definition of failed self-control, this index offers an intuitive interpretation and serves as a common yardstick for comparing temporal inconsistency across different functional forms. The tau index is independent of utility and computable for continuous discount functions after appropriate mapping onto the (beta, delta) family.
MANAGEMENT SCIENCE
(2022)
Article
History & Philosophy Of Science
Patricia Rich, Mark Blokpoel, Ronald de Haan, Maria Otworowska, Marieke Sweers, Todd Wareham, Iris van Rooij
Summary: The study demonstrates that while people can achieve high accuracy through simple heuristics, there is a need for significant computational resources in the adaptation process, making the problem difficult. Even with attempts at auxiliary assumptions, it is challenging to overcome this obstacle. This has important implications for the project of naturalizing rationality.
Article
Mathematics
Roberta Martino, Viviana Ventre
Summary: This paper discusses the implementation of an analytic network process to support financial decision-making in a behavioral context. By combining regulatory guidance and qualitative and quantitative evidence from the literature, the paper utilizes the Kersey Temperament Model to construct a network cluster that incorporates personality into the valuation. The functionality of the network is confirmed through a case study, demonstrating its strong support for financial decision-making.
Article
Mathematics, Applied
Salvador Cruz Rambaud, Fabrizio Maturo, Javier Sanchez Garcia
Summary: The paper focuses on intertemporal choice in behavioral finance, specifically analyzing decreasing impatience in decision-making processes. It characterizes two types of decreasing impatience (moderate and strong) and aims to extend these concepts to arbitrary functions that describe time increments. The methodology relies on mathematical calculus, particularly the concept of derivative based on the function governing time increase. The main contribution lies in characterizing this extension using a novel derivative and Prelec's index.
Article
Economics
Geoffroy de Clippel, Kareen Rozen
Summary: We propose a method to approximate rational consumer choice by relaxing the first-order conditions in optimization. We introduce a new measure, derived from axioms, to assess the magnitude of departures with multiple interpretations. Our approach allows for repurposing standard inequality tests to measure goodness-of-fit with a given class of preferences, and it is applicable in any context where the first-order approach is meaningful. We apply these ideas to gain new insights from portfolio-choice data.
REVIEW OF ECONOMICS AND STATISTICS
(2023)
Article
Psychology, Clinical
Gabriela Rosenblau, Garret O'Connell, Hauke R. Heekeren, Isabel Dziobek
PSYCHOLOGICAL MEDICINE
(2020)
Article
Neurosciences
Anna Pajkert, Christoph J. Ploner, Thomas-Nicolas Lehmann, Veronica A. Witte, Frank Oltmanns, Werner Sommer, Martin Holtkamp, Hauke R. Heekeren, Carsten Finke
EUROPEAN JOURNAL OF NEUROSCIENCE
(2020)
Article
Neurosciences
Carmen Morawetz, David Steyrl, Stella Berboth, Hauke R. Heekeren, Stefan Bode
Article
Behavioral Sciences
Brennan McDonald, Kerstin Becker, Dar Meshi, Hauke R. Heekeren, Christian von Scheve
COGNITIVE AFFECTIVE & BEHAVIORAL NEUROSCIENCE
(2020)
Article
Neurosciences
Stefan Schulreich, Holger Gerhardt, Dar Meshi, Hauke R. Heekeren
SOCIAL COGNITIVE AND AFFECTIVE NEUROSCIENCE
(2020)
Article
Behavioral Sciences
Elif Alkan Haertwig, Sabine Aust, Hauke R. Heekeren, Isabella Heuser
FRONTIERS IN BEHAVIORAL NEUROSCIENCE
(2020)
Article
Neurosciences
Johanna Liebig, Eva Froehlich, Teresa Sylvester, Mario Braun, Hauke R. Heekeren, Johannes C. Ziegler, Arthur M. Jacobs
Summary: This longitudinal study found that face-selective neural response was positively associated with RAN, and the neural response to spoken and written words in preliterate children was negatively associated with RAN in the dorsal temporo-parietal language system. Stronger neural activity in the inferior and middle temporal gyri at kindergarten age was associated with higher reading performance.
HUMAN BRAIN MAPPING
(2021)
Letter
Ecology
Matthias C. Rillig, Anika Lehmann, Michael S. Bank, Kenneth A. Gould, Hauke R. Heekeren
NATURE ECOLOGY & EVOLUTION
(2021)
Article
Neurosciences
Yuan-Wei Yao, Vivien Chopurian, Lei Zhang, Claus Lamm, Hauke R. Heekeren
Summary: Two meta-analyses were conducted to examine the effects of non-invasive brain stimulation on visual perspective taking. Stimulation of the right temporoparietal junction significantly improved visibility judgment from an allocentric perspective, while dorsomedial prefrontal cortex stimulation influenced performance from an egocentric perspective. However, there was not strong evidence that these regions play a crucial role in Level-2 visual perspective taking with higher requirements of mental rotation.
Review
Behavioral Sciences
Paula Lopez-Gamundi, Yuan-Wei Yao, Trevor T-J. Chong, Hauke R. Heekeren, Ernest Mas-Herrero, Josep Marco-Pallar
Summary: This study found that the pre-supplementary motor area (pre-SMA) is positively correlated with pure effort demand, while the ventromedial prefrontal cortex (vmPFC) shows the opposite effect. Additionally, brain regions previously implicated in value integration in other cost domains, such as the ventromedial prefrontal cortex and ventral striatum, consistently signal net value. These findings suggest that different brain regions are involved to varying degrees in processing effort costs and integrating values.
NEUROSCIENCE AND BIOBEHAVIORAL REVIEWS
(2021)
Article
Neurosciences
Amadeus Magrabi, Vera U. Ludwig, Christian M. Stoppel, Lena M. Paschke, David Wisniewski, Hauke R. Heekeren, Henrik Walter
Summary: Studies in decision neuroscience have found robust neural representations for the value of choice options. However, it is not well understood how the brain evaluates different attributes and combines them into overall values. This study used functional magnetic resonance imaging and found that attribute values were associated with activity in the posterior cingulate cortex, ventral striatum, and posterior inferior temporal gyrus, while overall values were represented in dorsolateral and ventromedial prefrontal cortex. Ultimately, this research suggests that certain brain regions are key for integrating attribute values and overall values.
SOCIAL COGNITIVE AND AFFECTIVE NEUROSCIENCE
(2022)
Correction
Behavioral Sciences
Paula Lopez-Gamundi, Yuan-Wei Yao, Trevor T-J. Chong, Hauke R. Heekeren, Ernest Mas Herrero, Josep Marco Pallares
NEUROSCIENCE AND BIOBEHAVIORAL REVIEWS
(2022)
Article
Biochemical Research Methods
Felix Molter, Armin Thomas, Scott Huettel, Hauke Heekeren, Peter N. C. Mohr
Summary: The study demonstrates that gaze-dependent evidence accumulation models can explain choice patterns in complex decision contexts and shows their effectiveness in a risky choice task. Furthermore, the research also reveals that participants with strong attraction effects employ an additional similarity-dependent inhibition mechanism found in other models.
PLOS COMPUTATIONAL BIOLOGY
(2022)
Article
Neurosciences
Heidrun Schultz, Jungsun Yoo, Dar Meshi, Hauke R. R. Heekeren
Summary: The medial temporal lobe plays a central role in memory formation, and reward enhances memory through interaction between the hippocampus and the substantia nigra/ventral tegmental area. The amygdala and perirhinal cortex also have a role in reward-enhanced memory.
Article
Psychology, Developmental
Julia M. Rodriguez Buritica, Hauke R. Heekeren, Wouter van den Bos
JOURNAL OF EXPERIMENTAL CHILD PSYCHOLOGY
(2019)
