Chair: Bethany R. Raiff (Rowan University)
Within the domain of behavioral economic decision-making, there are two parallel but distinct frameworks of reinforcer valuation. The first is discounting, a description of the change in subjective value of a commodity as its receipt becomes more delayed, uncertain, or changed by some other factor. The second is demand, a description of the effort an organism will expend to defend its consumption of a commodity as the cost of that commodity increases. Both discounting and demand use well established quantitative models to describe behavior, but analyses are typically treated as one or the other based on the methodology used. Thus, the purpose of this tutorial is to overview similarities and differences between quantitative models of discounting and demand and how the two can be integrated when more than one functional form is suspected to underlie data with multiple factors. This will be accomplished by identifying common parameter interpretations, correlations between different parameter estimates, and how these models can be combined to describe data that encompasses two or more independent variables. Finally, how various quantitative models can be used to identify commonly used metrics in demand and discounting will be demonstrated.
Негізгі бет Mark Rzeszutek, Integrating Discounting & Demand: Behavioral Economics & Modeling Strategies, SQAB
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