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$1 Today or $2 Tomorrow? The Answer is in Your Facebook Likes

Abstract · Mar 22, 2017 16:16 ·

cs-ai cs-cy cs-si

Arxiv Abstract

  • Tao Ding
  • Shimei Pan
  • Warren K. Bickel

In economics and psychology, delay discounting is often used to characterize how individuals choose between a smaller immediate reward and a larger delayed reward. People with higher delay discounting rate (DDR) often choose smaller but more immediate rewards (a “today person”). In contrast, people with a lower discounting rate often choose a larger future rewards (a “tomorrow person”). Since the ability to modulate the desire of immediate gratification for long term rewards plays an important role in our decision-making, the lower discounting rate often predicts better social, academic and health outcomes. In contrast, the higher discounting rate is often associated with problematic behaviors such as alcohol/drug abuse, pathological gambling and credit card default. Thus, research on understanding and moderating delay discounting has the potential to produce substantial societal benefits.

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