DRIFT: an analysis of outcome framing in intertemporal choice.

@article{Read2013DRIFTAA,
  title={DRIFT: an analysis of outcome framing in intertemporal choice.},
  author={Daniel Read and Shane Frederick and Marc Scholten},
  journal={Journal of experimental psychology. Learning, memory, and cognition},
  year={2013},
  volume={39 2},
  pages={
          573-88
        }
}
People prefer to receive good outcomes immediately rather than wait, and they must be compensated for waiting. But what influences their decision about how much compensation is required for a given wait? To give a partial answer to this question, we develop the DRIFT model, a heuristic description of how framing influences intertemporal choice. We describe 4 experiments showing the implications of this model. In the experiments, we vary how the difference between a smaller sooner outcome and a… CONTINUE READING

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