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The relationship between intertemporal choice and following the path of least resistance across choices, preferences, and beliefs

Published online by Cambridge University Press:  01 January 2023

Amitai Shenhav*
Affiliation:
Department of Cognitive, Linguistic, and Psychological Sciences, Brown Institute for Brain Science, 190 Thayer St., Box 1821, Brown University, Providence, RI 02912, USA. Department of Psychology, Harvard University, Cambridge, MA, 02138, USA.
David G. Rand
Affiliation:
Department of Psychology, Yale University, New Haven, CT, 06520, USA.
Joshua D. Greene
Affiliation:
Department of Psychology, Harvard University, Cambridge, MA, 02138, USA.
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Abstract

The degree to which individuals prefer smaller sooner versus larger delayed rewards serves as a powerful predictor of their impulsivity towards a number of different kinds of rewards. Here we test the limits of its predictive ability within a variety of cognitive and social domains. Across several large samples of subjects, individuals who prefer smaller more immediate rewards (steeper discounters) are less reflective (or more impulsive) in their choices, preferences, and beliefs. First, steeper discounters used more automatic, less controlled choice strategies, giving more intuitive but incorrect responses on the Cognitive Reflection Test (replicating previous findings); employing a suboptimal probability matching heuristic for a one-shot gamble (rather than maximizing their probability of reward); and relying less on optimal planning in a two-stage reinforcement learning task. Second, steeper discounters preferred to consume information that was less complex and multi-faceted, as suggested by their self-reported Need for Cognitive Closure, their use of short-form social media (i.e., Twitter), and their preferred news sources (in particular, whether or not they preferred National Public Radio over other news sources). Third, steeper discounters had interpersonal and religious beliefs that are associated with reduced epistemic complexity: they were more likely to believe that the behavior of others could be explained by fixed rather than dynamic factors, and they believed more strongly in God and in the afterlife. Together these findings provide evidence for a link between individual differences in temporal discounting for monetary rewards and preferences for the path of least resistance (less reflective and/or more automatic modes of processing) across a variety of domains.

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Research Article
Creative Commons
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The authors license this article under the terms of the Creative Commons Attribution 3.0 License.
Copyright
Copyright © The Authors [2017] This is an Open Access article, distributed under the terms of the Creative Commons Attribution license (http://creativecommons.org/licenses/by/3.0/), which permits unrestricted re-use, distribution, and reproduction in any medium, provided the original work is properly cited.
Figure 0

Figure 1: Temporal discounting and choice behavior. A) Left: Steeper discounters give fewer correct and more intuitive responses on the CRT. Average numbers of correct/intuitive responses are shown for individuals with discount rates in the lowest, mid, and highest tertiles of our sample. Higher versus lower discount rates reflect steeper versus shallower discounting functions. (Note that a continuous measure of discount rate is used for all statistics in the main text, but these values were binned for ease of display in figures.) Right: For illustrative purposes we show projected discounted value of $100 over the course of a year for subjects who gave 0–3 correct CRT responses. B) Steeper discounters are more likely to apply a probability matching rather than a probability maximizing strategy in a one-shot probabilistic gamble. C) Steeper discounters are less likely to use a model-based strategy in the two-step task. Higher model-based index values reflect a stronger interaction between previous reward and previous transition probability when making a stay/switch decision on Stage 1 of the current trial. (Note that values on the y-axis represent random effect estimates from a mixed-effects regression. Zero therefore represents the fixed-effect slope across the group – which is significantly greater than zero – rather than representing no effect of this interaction.) Error bars represent s.e.m.

Figure 1

Table 1: Summary of correlations between intertemporal choice and key variables of interest. Each row reflects the zero-order correlation between discount rate and a given variable. The correlation with the model-based index is based on individual random effect estimates from the mixed-effects regression reported in the main text. denotes point-biserial correlation between discount rate and binary variable. All other correlations are Pearson’s r values. See also Table A1 for correlations of these variables with each item from the discounting measure separately.

Figure 2

Figure 2: Temporal discounting and preference for reduced epistemic complexity. A) Steeper discounters score higher on the Need for Closure scale. B) Steeper discounting is also positively correlated with frequency of checking Twitter (blue) but not Reddit (orange; which only reveals a non-significant negative trend in the opposite direction). C) Discount rate (x-axis) accounts for significant variance in individuals’ choices of news media outlet, with the shallowest discounters reporting the greatest preference for NPR as their primary source of news. Similar patterns are found when assessing how complex/informative (versus intuitive/easy to consume) a given network is (y-axis), with NPR again standing out as significantly different than the remaining networks. Values on the y-axis represent average ratings on a composite complexity index, after controlling for potential confounds (e.g., related to familiarity and political leaning); these complexity ratings were given by a different sample of subjects from the discount rates. Error bars represent s.e.m.

Figure 3

Figure 3: Temporal discounting and beliefs about others. Steeper discounters A) score higher on a (z-scored) measure of belief in psychological essentialism and B) attribute behavioral differences between races to a combination of causes favoring genetic factors more and environmental factors less.

Figure 4

Figure 4: Temporal discounting and beliefs about the divine. Steeper discounters A) have stronger beliefs in God, B) are more likely to be convinced of God’s existence through their own experience, and C) believe more strongly in an afterlife.

Figure 5

Table A1: Correlations between variables of interest and individual binary choices on the MCQ items. Individual choices of the sooner option are coded as zero (0), and choices of the delayed option are coded as one (1), so that negative correlations reflect an association with preference for the sooner reward. The consistency in the direction of these item-wise correlations for a given variable on the left-hand side suggests that correlations with overall discount rate were not driven by responses to any particular item in the MCQ.

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