{"pk":28183,"title":"Risky Intertemporal Choice with Multiple Outcomes and Individual Differences","subtitle":null,"abstract":"Risk and delay co-occur. Intertemporal choices are rarely\ncertain; risky choices are rarely atemporal. Behavioral\nevidence suggests that risk and time are entangled: time\ndiscounting is different for risky outcomes than for riskless\noutcomes. A prominent model of risky intertemporal choice\n(Baucells & Heukamp, 2012) combines risk and delay into\npsychological distance. It predicts that risk and time will be\nentangled for outcome risk (risk with one zero outcome and at\nleast one positive outcome) but not for amount risk (risk with\nthree or more positive outcomes) unless assuming non-\ncumulative probability weights. We show that BH does not\nquantitatively fit risky intertemporal choices better than a\nmodel assuming risk and time are independent. Many\nparticipants were best fit by a random response model. The\nfunctional form for risky intertemporal choices is difficult to\ndetect. While risk and time are entangled, they do not seem to\nbe evaluated as psychological distance.","language":"eng","license":{"name":"","short_name":"","text":null,"url":""},"keywords":[{"word":"Risky Intertemporal Choice; Choice Modeling;\nIndividual Differences"},{"word":"Latent Mixture Model"}],"section":"Publication-based-Talks","is_remote":true,"remote_url":"https://escholarship.org/uc/item/5kv9g28t","frozenauthors":[{"first_name":"Daniel","middle_name":"G","last_name":"Wall","name_suffix":"","institution":"Carnegie Mellon","department":""},{"first_name":"Gretchen","middle_name":"","last_name":"Chapman","name_suffix":"","institution":"Carnegie Mellon","department":""},{"first_name":"Pernille","middle_name":"","last_name":"Hemmer","name_suffix":"","institution":"Rutgers","department":""}],"date_submitted":null,"date_accepted":null,"date_published":"2018-01-01T18:00:00Z","render_galley":null,"galleys":[{"label":"PDF","type":"pdf","path":"https://journalpub.escholarship.org/cognitivesciencesociety/article/28183/galley/17842/download/"}]}