Discounting of delayed rewards: A life-span comparison
Green, Fry and Myerson, Psychological Science 5(1), 1994, 33-36. Children, young adults and older adults chose between immediate and delayed hypothetical monetary rewards with the delayed amount constant and the delay varied. All groups discounted delayed rewards, children the most and older adults the least. A single function with age-sensitive parameters described all three groups well, read by the authors as a qualitatively similar choice process across the life span with quantitative differences.
Green, Fry and Myerson, Psychological Science 5(1), 1994, 33-36. Children, young adults and older adults chose between immediate and delayed hypothetical monetary rewards with the delayed amount constant and the delay varied. All groups discounted delayed rewards, children the most and older adults the least. A single function with age-sensitive parameters described all three groups well, read by the authors as a qualitatively similar choice process across the life span with quantitative differences.
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Green, L., Fry, A. F., & Myerson, J. (1994). Discounting of delayed rewards: A life-span comparison. Psychological Science, 5(1), 33-36. doi:10.1111/j.1467-9280.1994.tb00610.x https://doi.org/10.1111/j.1467-9280.1994.tb00610.x