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Hokkaido University Collection of Scholarly and Academic Papers >
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Peer-reviewed Journal Articles, etc >
Psychophysics of time perception and intertemporal choice models
| Title: | Psychophysics of time perception and intertemporal choice models |
| Authors: | Takahashi, Taiki Browse this author →KAKEN DB | | Oono, Hidemi Browse this author | | Radford, Mark H.B. Browse this author |
| Keywords: | Intertemporal choice | | Discounting | | Time perception | | Impulsivity | | Neuroeconomics | | Psychophysics |
| Issue Date: | 15-Mar-2008 |
| Publisher: | Elsevier B. V. |
| Journal Title: | Physica A: Statistical Mechanics and its Applications |
| Volume: | 387 |
| Issue: | 8-9 |
| Start Page: | 2066 |
| End Page: | 2074 |
| Publisher DOI: | 10.1016/j.physa.2007.11.047 |
| Abstract: | Intertemporal choice and psychophysics of time perception have been attracting attention in econophysics and neuroeconomics. Several models have been proposed for intertemporal choice: exponential discounting, general hyperbolic discounting (exponential discounting with logarithmic time perception of the Weber–Fechner law, a q-exponential discount model based on Tsallis’s statistics), simple hyperbolic discounting, and Stevens’ power law–exponential discounting (exponential discounting with Stevens’ power time perception). In order to examine the fitness of the models for behavioral data, we estimated the parameters and AICc (Akaike Information Criterion with small sample correction) of the intertemporal choice models by assessing the points of subjective equality (indifference points) at seven delays. Our results have shown that the orders of the goodness-of-fit for both group and individual data were [Weber–Fechner discounting (general hyperbola) > Stevens’ power law discounting > Simple hyperbolic discounting > Exponential discounting], indicating that human time perception in intertemporal choice may follow the Weber–Fechner law. Indications of the results for neuropsychopharmacological treatments of addiction and biophysical processing underlying temporal discounting and time perception are discussed. |
| Type: | article (author version) |
| URI: | http://hdl.handle.net/2115/48553 |
| Appears in Collections: | 文学院・文学研究院 (Graduate School of Humanities and Human Sciences / Faculty of Humanities and Human Sciences) > 雑誌発表論文等 (Peer-reviewed Journal Articles, etc)
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Submitter: 高橋 泰城
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