Reliability and validity of behavioral-economic measures: A review and synthesis of discounting and demand

Abstract

This review sought to synthesize the literature on the reliability and validity of behavioral-economic measures of demand and discounting in human research, introduce behavioral-economic research methodologies for studying addictive behaviors, discuss gaps in the current literature, and review areas for future research. A total of 34 studies was included in this review. The discounting literature showed similar responding regardless of whether hypothetical or actual outcomes were used, though people tended to discount the outcome presented first more steeply, suggesting order effects. Although delay-discounting measures seem to show temporal stability, exceptions were found for probability- and experiential-discounting tasks. The demand literature also demonstrated similar responding regardless of outcome type; however, some demand indices showed exceptions. Randomized price sequences tended to show modest increases in Omax and α and modestly higher rates of inconsistent or nonsystematic responses compared with sequential price sequences. Demand indices generally showed temporal stability, although the stability was weaker the larger the time interval between test sessions. Future studies would benefit by examining addictive commodities beyond alcohol, nicotine, and money; examining temporal stability over longer time intervals; using larger delays in discounting tasks; and using larger sample sizes.