Time preferences are reliable across time-horizons and verbal vs. experiential tasks

Abstract

Individual differences in delay-discounting correlate with important real world outcomes, e.g. education, income, drug use, & criminality. As such, delay-discounting has been extensively studied by economists, psychologists and neuroscientists to reveal its behavioral and biological mechanisms in both human and non-human animal models. However, two major methodological differences hinder comparing results across species. Human studies present long time-horizon options verbally, whereas animal studies employ experiential cues and short delays. To bridge these divides, we developed a novel language-free experiential task inspired by animal decision-making studies. We find that subjects time-preferences are reliable across both verbal/experiential differences and also second/day differences. When we examined whether discount factors shifted or scaled across the tasks, we found a surprisingly strong effect of temporal context. Taken together, this indicates that subjects have a stable, but context-dependent, time-preference that can be reliably assessed using different methods; thereby, providing a foundation to bridge studies of time-preferences across species.