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Side Effects in Time Discounting Procedures: Fixed Alternatives Become the Reference Point

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  • Przemysław Sawicki
  • Michał Białek

Abstract

Typical research on intertemporal choice utilizes a two-alternative forced choice (2AFC) paradigm requiring participants to choose between a smaller sooner and larger later payoff. In the adjusting-amount procedure (AAP) one of the alternatives is fixed and the other is adjusted according to particular choices made by the participant. Such a method makes the alternatives unequal in status and is speculated to make the fixed alternative a reference point for choices, thereby affecting the decision made. The current study shows that fixing different alternatives in the AAP influences discount rates in intertemporal choices. Specifically, individuals’ (N = 283) choices were affected to just the same extent by merely fixing an alternative as when choices were preceded by scenarios explicitly imposing reference points.

Suggested Citation

  • Przemysław Sawicki & Michał Białek, 2016. "Side Effects in Time Discounting Procedures: Fixed Alternatives Become the Reference Point," PLOS ONE, Public Library of Science, vol. 11(10), pages 1-11, October.
    • Handle: RePEc:plo:pone00:0165245
    DOI: 10.1371/journal.pone.0165245
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    References listed on IDEAS

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