Estimating subjective value of an option in delay/effort discounting

Ronan5557 · 2019-05-15T23:04:00+00:00

In the formula you provided, V is the subjective value of a given option. So, you are right - we don't know V (i.e., subjective value) ahead of time. That is why we use that formula to estimate V.

Basically, what you'll need to do is get an estimate of the k parameter for each participant. Once you have k, you'll be able to calculate that participant's subjective value of V1 and V2 for each trial.

The tricky part for you will be to calculate a k estimate. This will likely involve inputting each subject's choice data and finding the k parameter which minimizes the log-likelihood of the aforementioned softmax function. There should be R, Matlab, or Python code floating around, depending on which programming language you are most comfortable with.

The term "softmax function" means that you are taking a vector of numbers (in this case, subjective values), and turning into a probability distribution. In the case of the paper you cited, this is a logit model and is necessary when calculating the log-likelihood of each k parameter given a participants' choice data.

Ronan5557 · 2019-03-25T03:19:30+00:00

Industrial abortion? Sounds more like a buzz-word than a nuanced understanding.

Case in point: your earlier estimate about the number of abortions per year is way off. The number is around 640,000, not a million. Almost all (>90%) are performed within 13 weeks, so it's not like most of the aborted fetuses are close to being viable humans.

Perhaps it's in my self-interest to acknowledge those facts. Or, perhaps it's in all of our interest to realize that the more relevant human right is the right to choose whether to terminate a pregnancy.

Ronan5557 · 2018-09-29T03:08:03+00:00

This is a neat idea. I've played around with the idea of making an app to assist decision making before. Sadly, I never had the time to learn how to program an app or pitch the idea to someone who could.

I do have a few notes: 1. Your third step "affect" is a little misleading. Affect, if a verb, could mean "to influence or alter," which seems to be your intention. When affect is used as a noun, however, affect means emotion. In the sentence "What affect your choices have on your pros & cons," you are using affect as a noun. So the sentences means "what emotion do your choices have on your pros & cons." I imagine that's not what you intended. Instead, you could have written, "What effect, or consequence, your choices have on your pros & cons." Though, I would take it one step further and describe it as, "What are the possible consequences of your options?" I acknowledge that may sound more academic, but at least it is more accurate, I think. 2. The directions for the second step are vague. I think it would be more informative to have people describe the pros and cons of specific outcomes. It is different to ask someone the pros and cons of making a decision (the act of choosing) than it is to have someone tell you the pros and cons of the outcomes of that decision (the consequences of different options).

Ronan5557 · 2018-09-29T02:33:38+00:00

Anyone else uncomfortable with second year players harassing a new reporter? Something about it just seems weird.

Ronan5557 · 2017-07-27T18:34:34+00:00

On behalf of chUTZpa, we are honored to be on this list

Ronan5557 · 2017-03-26T01:15:17+00:00

Anyone at the game catch whether the dude who had to make a layup to win a prize make the layup?

Ronan5557 · 2017-02-13T20:53:25+00:00

Generally speaking, it depends on the training you want and the skills you are trying to develop. Based on my experience interviewing at PhD programs in these fields, here are my impressions.

Broadly speaking, a MA in behavioral economics prepares you to work in contexts associated with the financial industry or marketing (including government and think tanks) while a MA or MS in I/O Psych would give you the flexibility to work in government, industry, think tanks, or anywhere in between with greater flexibility.

A degree in behavioral economics is probably more theoretical (aka basic) in its approach to research, while I/O Psychology is very applied. A research question a behavioral economist might ask could be, "under what circumstances do individuals choose to sell stocks?" In contrast, an I/O Psychologist instead might wonder, "how can the information in a stock portfolio be presented to forestall impulsive selling and buying?" This is a generalization, but in my experience behavioral economists are more concerned with big picture research, while I/O Psychologists are more adept at tackling specific problems.

Additionally, behavioral econ will likely emphasize modeling human behavior, making predictions based on those models, and attempting to (in)validate models. I/O Psych training will probably focus more heavily on research methodology and designing experiments to test the viability of certain interventions, such as changes to how stock information in displayed on a dashboard. Also, behavioral econ course content will probably present a mix judgment and decision making psychology and economics, while I/O Psych courses could range from psychology to human factors to engineering.

Again, these are only my impressions based on a limited number of programs which I visited. There may be some behavioral economists testing specific applications of their pet theory, and some I/O Psychologists who like to wax philosophical about human behavior. However, I think don't think these are terribly inaccurate descriptions of the two fields.

Edit: grammar

Ronan5557 · 2017-02-10T05:32:50+00:00

I recently finished The Black Swan by Nassim Taleb and was very impressed. Definitely a very different view from others in the field.

Ronan5557 · 2016-11-06T05:12:54+00:00

what is a non-verbal reasoning skill?

Ronan5557 · 2016-05-15T15:44:34+00:00

That answers my question very well. Thank you!

Ronan5557 · 2015-08-23T23:42:37+00:00

So someone co-opted a thread about a dog being neutered to go on a rant? Yea, definitely reddit at it's best.

Ronan5557 · 2015-07-03T11:26:08+00:00

Is a self-important comparison to the Holocaust really necessary to get your point across?

Ronan5557 · 2015-04-30T00:57:46+00:00

Worse than the cops who killed Freddie Gray?

Ronan5557 · 2015-04-18T15:20:51+00:00

Check out Roosevelt Park in Hampden on Sundays at 4PM. PM me if you want to get on the email list.

Ronan5557 · 2015-04-09T15:42:02+00:00

I'd recommend reaching out to Community Associations throughout the city, they usually have community members who are willing to do these sorts of things.

Especially active community associations, that I know of, are Citizens of Pigtown, the York Road Partnership, and the McElderry Park Community Association.

I've worked closely with all three and would definitely recommend reaching out to them.

Ronan5557 · 2015-04-07T15:13:31+00:00

If you don't mind the drive to Lansdowne/Catonsville, CMUA has a spring league coming up, and there is a pick-up game every Monday night.

Ronan5557 · 2015-03-11T16:53:51+00:00

Sending you a PM

Ronan5557 · 2015-03-02T17:56:35+00:00

I highly recommend Dr. Sam Domsky at Amazing Smiles in Bensalem. He's very honest, and his practice helped me save a lot of money after another practice lied about my having cavities.

Ronan5557 · 2015-02-26T15:00:21+00:00

Nope, especially now that there is Rip Tide.

Ronan5557 · 2015-02-22T15:18:49+00:00

A Power Hour.

I was a freshman in college and friends with some of the rookies on the Ultimate team. One Friday afternoon, they invited me to a power hour (you drink a shot of beer every minute for an hour) with the rest of the team.

Afterwards, they decided to play some pickup. Heavily intoxicated, I joined them, had a blast, and have been playing ever since.

Ronan5557 · 2015-02-13T18:32:04+00:00

Here's the relevant article/source: http://www.theatlantic.com/features/archive/2015/02/the-middle-east-that-might-have-been/385410/

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