Comparing intertemporal decision‐making models: Predictions and applications in lifespan through subjective time perception.
Intertemporal decision‐making is essential in daily life, requiring individuals to evaluate the value of investments over time. This study aimed to assess how well intertemporal choice models explain and predict decision‐making behaviours, focusing on subjective time perception across the lifespan....
| Publicado en: | British Journal of Psychology Vol. 116; no. 4; pp. 854 - 877 |
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| Autores principales: | , , , |
| Formato: | Artículo |
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Wiley-Blackwell
Nov2025
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=188606575&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 188606575 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00071269 BJP jtl: British Journal of Psychology issn: 00071269 maglogo: Y pubinfo: dt: Nov2025 vid: 116 iid: 4 pid: 480 pub: Wiley-Blackwell artinfo: ui: 188606575 10.1111/bjop.12796 ppf: 854 ppct: 23 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 1.8MB tig: atl: Comparing intertemporal decision‐making models: Predictions and applications in lifespan through subjective time perception. aug: au: Dai, Lijuan Wang, Ya Chark, Robin Liu, Lulu affil: Department of Psychology, Faculty of Social Sciences, University of Macau, Macao, China Centre for Cognitive and Brain Sciences, Institute of Collaborative Innovation, University of Macau, Macao, China School of Psychology, Capital Normal University, Beijing, China Faculty of Business Administration, University of Macau, Macao, China su: Cross-sectional method Decision making Psychological tests Longevity Research funding Data analysis Logistic regression analysis Kruskal-Wallis Test Questionnaires Delay discounting (Psychology) Mann Whitney U Test Conceptual structures Statistics One-way analysis of variance Comparative studies Data analysis software Time Cognitive aging sug: subj: Cross-sectional method Decision making Psychological tests Longevity Research funding Data analysis Logistic regression analysis Kruskal-Wallis Test Questionnaires Delay discounting (Psychology) Mann Whitney U Test Conceptual structures Statistics One-way analysis of variance Comparative studies Data analysis software Time Cognitive aging keyword: 10‐fold cross‐validation age effect delay discounting intertemporal choice Stevens' power law Weber‐Fechner law 10‐fold cross‐validation age effect delay discounting intertemporal choice Stevens' power law Weber‐Fechner law ab: Intertemporal decision‐making is essential in daily life, requiring individuals to evaluate the value of investments over time. This study aimed to assess how well intertemporal choice models explain and predict decision‐making behaviours, focusing on subjective time perception across the lifespan. Five models were compared: two basic models (hyperbolic and exponential discounting) and three based on psychophysical principles of time perception (Stevens' power law exponential, Weber–Fechner exponential and Stevens' power law hyperbolic discounting). Using three datasets, this study identified which model better describes delay discounting and measured each model's predictive accuracy through cross‐validation across the lifespan. Findings revealed that Stevens' power law exponential and hyperbolic discounting models provided better fit and predictive capability, suggesting that time perception in intertemporal decision‐making follows Stevens' power law. The two models were applied to participants aged 9–82 years, showing nonlinear variations in discounting rates and time perception parameters. In summary, Stevens' power law exponential and hyperbolic models, which account for nonlinear subjective perceptions of time, enhanced understanding of intertemporal choice behaviours, attributing age‐related differences in delay discounting to variations in time perception, thus supporting theories regarding age‐related changes in delay discounting across the lifespan. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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