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Time Discounts all Wounds

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Time Discounts all Wounds

M.K. Stevenson

Juan Cabrera

Raymond Gerardo

Are Gains and Losses discounted differently when presented together as a single stimulus option in a judgment task?

How would the discounted “Gains and Losses” compare to Gains presented alone and Losses presented alone in a judgment task?

You receive a loan for $1000in 1 mo.

- You pay $200 and it is due in 1 year.

I-----------------------------I-----------------------------I

VERY INDIFFERENT VERY

Unattractive Attractive

Loans range from $1000 to $5000.

Time ranges from 1 mo to 4 years.

Interest to Pay ranges from $200 to $800

I-----------------------------I-----------------------------I

VERY INDIFFERENT VERY

Unattractive Attractive

Loans range from $1000 to $3000.

Time ranges from 1 mo to 4 years.

You receive a loan for $1000in 6 mos.

I-----------------------------I-----------------------------I

VERY INDIFFERENT VERY

Unattractive Attractive

Time ranges from 1 mo to 4 years.

Interest to Pay ranges from $200 to $500

You must pay $600 and

it is due in 6 mos.

Assumes that gains and losses are additive or averaged.

Assumes the delay weights the events.

Previous Results (2011)

Would changing the response scale affect the focus of the response ?

“How attractive is the option ?”

“How unattractive is this option?”

Positive Response Scale

Negative Response Scale

Are Gains and Losses discounted differently when presented together in a preference task?

How do the discounting functions of the combined stimuli compare to gains and losses presented alone?

- A B
- Receive $ 1000 loan. Receive $ 3000 loan.
- for 6 mos For 4 years
- Pay $ 200 interest. Pay $ 600 interest.
- in 1 year in 6 mos.
- I-----------------------------------I----------------------------------I
- Prefer A prefer Prefer B
Very Much them Very Much

More Equally More

Time varies from 6 mos to 4 years

Loans vary from $1000 to $3000

Interest varies from $200 to $600

Design 5 and 6 (Choose A or B. How much better is it?

(Choose A or B Which one is worse? )

- A B
- Receive $ 1000 loan. Receive $ 3000 loan.
- for 6 mos For 4 years
- I-----------------------------------I----------------------------------I
- Prefer A prefer Prefer B
Very Much them Very Much

More Equally More

Time varies from 6 mos to 4 years

Loans vary from $1000 to $3000

Design 7 & 8 (Choose A or B. How much better is it?)

(Choose A or B Which one is worse? )

- A B
- Pay $ 200 interest. Pay $ 600 interest.
- in 1 year in 6 mos.
- I-----------------------------------I----------------------------------I
- Prefer A prefer Prefer B
Very Much them Very Much

More Equally More

Time varies from 6 mos to 4 years

Interest to pay varies from $200 to $600

Design 9 & 10 (Choose A or B. How much better is it?)

(Choose A or B Which one is worse? )

Design 5 and 6 (Choose A or B. How much better is it?

(Choose A or B Which one is worse? )

Design 5 and 6 (Choose A or B. How much better is it?

(Choose A or B Which one is worse? )

Would changing the response scale affect the focus of the response ?

“Which option is better ?” “How much better is it?

“Which option is worse?” “How much worse is t?

- A B
- Receive $ 1000 loan. Receive $ 3000 loan.
- for 6 mos For 4 years
- Pay $ 200 interest. Pay $ 600 interest.
- in 1 year in 6 mos.
- I-----------------------------------I----------------------------------I
- A is they B is
Much are Much

Worse Equal Worse

Time varies from 6 mos to 4 years

Loans vary from $1000 to $3000

Interest varies from $200 to $600

Context

Are Gains and Losses discounted differently when presented together in a judgment task?

Yes, participants can discount gains and losses differently when they are combined.

How does the discounted “Gains and Losses” compare to Gains presented alone and Losses presented alone in a judgment task?

Losses are weighted higher with or without gains and discounted more steeply in both contexts using a positive scale.

With a negative scale, shorter losses are weight higher than delayed gains.

Losses are discounted more steeply in both contexts using a negative scale.

Are Gains and Losses discounted differently when presented together in a preference task?

Discount weights are different for gains and losses presented alone and when presented together. Gains are preferred sooner. Losses are preferred later. Outcome X Time Interactions are reliable.

The Sign X Time interaction is significant for single outcomes regardless of the response scale focus for gains and losses presented alone.

But the Sign X Time interaction is not reliable for gains and losses presented together for either response scale. There is a focus on Gains when comparing what is better. There is a focus on Losses when comparing which option is worse.