discounting

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None of the participants had previously taken courses in behavior analysis, and none had previously participated in experiments on delay discounting.
The curved lines represent the hyperbolic discounting functions (Equation 1), fitted to the median data of deflationary (k = 0.
These results suggest that inflation rate has an effect on the discounting of delayed rewards, although objectively, the delay discounting behavior that maximizes purchasing power is the same at any inflation rate.
Although Experiment 1 showed that inflation rate has an effect on discounting behavior, it is possible that the nominal interest rate does not affect delay discounting.
The discounting of delayed rewards will be strong as the nominal interest rate increases.
The curved lines represent hyperbolic discounting functions (Equation 1), fitted to the median data of 0% (k = 0.
These results suggest that nominal interest rate has an effect on discounting of delayed rewards.
The purpose of Experiment 3 was to investigate the effect on delay discounting of different combinations of nominal interest and inflation rates that yield the same real interest rate.
The areas under the curve for objective discounting, calculated from the exponential discounting curve, are 0.
These results suggest that different combinations of nominal interest and inflation rates yielding the same real interest rate have an effect on the discounting of delayed rewards, but that the effect is not strong.
The results of the three experiments suggest that the subjective discounting of delayed rewards is strongly affected both by inflation and interest rates.