Intertemporal choice refers to decisions involving a trade-off in reward size and delay to receiving the reward (‘a smaller reward now versus a larger reward later’). When making such decisions, people typically devalue future rewards, a phenomenon known as temporal discounting. Individual differences in temporal discounting have been shown to be relatively stable across time but choice behaviour is also malleable, as revealed by various framing effects. Here, we provide a narrative review of the date/delay effect, the phenomenon of reduced temporal discounting when time until receipt of rewards is given as dates (e.g., on 24th November 2024) rather than delay units (e.g., in 89 days). The date/delay effect has been replicated by many studies, with medium effect size. It is robust across most task designs and participant samples, but some of its determinants (e.g., task parameters such as delay length) remain to be systematically tested. Furthermore, only few studies have examined the effect’s cognitive and neural mechanisms. Experimental evidence to date suggests that the date framing condition leads to shorter estimations of delays compared to the delay framing condition. Additionally, individual differences studies have shown that people comparing time attributes and computing intervals more in the date than in the delay framing condition might show a lower date/delay effect, whereas people focusing more on rewards in the decision process might show a higher date/delay effect. Such individual differences in the date/delay effect are not only important to further elucidate its mechanisms but also to examine relations with psychopathology, as general population studies have suggested the effect to be particularly strong in vulnerable individuals. Ultimately, further studies in non-clinical and clinical populations are needed to examine individual determinants of the date/delay effect as well as its applicability in clinical settings.

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Mechanisms and Correlates of the Date/Delay Effect in Intertemporal Choice

  • Kristof Keidel,
  • Carsten Murawski,
  • Ulrich Ettinger

摘要

Intertemporal choice refers to decisions involving a trade-off in reward size and delay to receiving the reward (‘a smaller reward now versus a larger reward later’). When making such decisions, people typically devalue future rewards, a phenomenon known as temporal discounting. Individual differences in temporal discounting have been shown to be relatively stable across time but choice behaviour is also malleable, as revealed by various framing effects. Here, we provide a narrative review of the date/delay effect, the phenomenon of reduced temporal discounting when time until receipt of rewards is given as dates (e.g., on 24th November 2024) rather than delay units (e.g., in 89 days). The date/delay effect has been replicated by many studies, with medium effect size. It is robust across most task designs and participant samples, but some of its determinants (e.g., task parameters such as delay length) remain to be systematically tested. Furthermore, only few studies have examined the effect’s cognitive and neural mechanisms. Experimental evidence to date suggests that the date framing condition leads to shorter estimations of delays compared to the delay framing condition. Additionally, individual differences studies have shown that people comparing time attributes and computing intervals more in the date than in the delay framing condition might show a lower date/delay effect, whereas people focusing more on rewards in the decision process might show a higher date/delay effect. Such individual differences in the date/delay effect are not only important to further elucidate its mechanisms but also to examine relations with psychopathology, as general population studies have suggested the effect to be particularly strong in vulnerable individuals. Ultimately, further studies in non-clinical and clinical populations are needed to examine individual determinants of the date/delay effect as well as its applicability in clinical settings.