Humans Can Adopt Optimal Discounting Strategy under Real-Time Constraints

@article{Schweighofer2006HumansCA,
  title={Humans Can Adopt Optimal Discounting Strategy under Real-Time Constraints},
  author={Nicolas Schweighofer and K. Shishida and Cheol E. Han and Yasumasa Okamoto and Saori C. Tanaka and Shigeto Yamawaki and Kenji Doya},
  journal={PLoS Computational Biology},
  year={2006},
  volume={2},
  pages={141 - 148}
}
Critical to our many daily choices between larger delayed rewards, and smaller more immediate rewards, are the shape and the steepness of the function that discounts rewards with time. Although research in artificial intelligence favors exponential discounting in uncertain environments, studies with humans and animals have consistently shown hyperbolic discounting. We investigated how humans perform in a reward decision task with temporal constraints, in which each choice affects the time… CONTINUE READING

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