A systematic investigation into the reliability of inter-temporal choice model parameters.
Computational modeling
Delay discounting
Inter-temporal choice
Measurement
Parameter recovery
Journal
Psychonomic bulletin & review
ISSN: 1531-5320
Titre abrégé: Psychon Bull Rev
Pays: United States
ID NLM: 9502924
Informations de publication
Date de publication:
Aug 2023
Aug 2023
Historique:
accepted:
19
12
2022
medline:
7
9
2023
pubmed:
7
3
2023
entrez:
6
3
2023
Statut:
ppublish
Résumé
Decades of work have been dedicated to developing and testing models that characterize how people make inter-temporal choices. Although parameter estimates from these models are often interpreted as indices of latent components of the choice process, little work has been done to examine their reliability. This is problematic because estimation error can bias conclusions that are drawn from these parameter estimates. We examine the reliability of parameter estimates from 11 prominent models of inter-temporal choice by (a) fitting each model to data from three previous experiments with designs representative of those typically used to study inter-temporal choice, (b) examining the consistency of parameters estimated for the same person based on different choice sets, and (c) conducting a parameter recovery analysis. We find generally low correlations between parameters estimated for the same person from the different choice sets. Moreover, parameter recovery varies considerably between models and the experimental designs upon which parameter estimates are based. We conclude that many parameter estimates reported in previous research are likely unreliable and provide recommendations on how to enhance the reliability of inter-temporal choice models for measurement purposes.
Identifiants
pubmed: 36877362
doi: 10.3758/s13423-022-02241-7
pii: 10.3758/s13423-022-02241-7
pmc: PMC10482820
doi:
Types de publication
Journal Article
Review
Langues
eng
Sous-ensembles de citation
IM
Pagination
1294-1322Informations de copyright
© 2023. The Author(s).
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