Building a bridge into the future: Dynamic connectionist modeling as an integrative tool for research on intertemporal choice

Abstract

Temporal discounting denotes the fact that individuals prefer smaller rewards delivered sooner over larger rewards delivered later, often to a higher extent than suggested by normative economical theories. In this article, we identify three lines of research studying this phenomenon which aim (i) to describe temporal discounting mathematically, (ii) to explain observed choice behavior psychologically, and (iii) to predict the influence of specific factors on intertemporal decisions.We then opt for an approach integrating postulated mechanisms and empirical findings from these three lines of research. Our approach focuses on the dynamical properties of decision processes and is based on computational modeling.We present a dynamic connectionist model of intertemporal choice focusing on the role of self-control and time framing as two central factors determining choice behavior. Results of our simulations indicate that the two influences interact with each other, and we present experimental data supporting this prediction.We conclude that computational modeling of the decision process dynamics can advance the integration of different strands of research in intertemporal choice. © 2012 Scherbaum, Dshemuchadse and Goschke.