5 CFR 1315.7 - Discounts.

Science.gov (United States)

2010-01-01

... acceptance has occurred. Agencies are encouraged to include discount terms in a contract to give agencies... web site at http://www.fms.treas.gov/prompt/index.html. (b) Discounts taken after the discount date...

Decomposing the social discount rate

OpenAIRE

Scarborough, Helen

2010-01-01

Recent modelling of the costs and benefits of climate change has renewed debate surrounding assumptions regarding the social discount rate in analysing the impacts of environmental change. Previous literature segments the social discount rate into being influenced by two key factors; the rate of pure time preference and the elasticity of marginal utility of future consumption. These components of the social discount rate reinforce the linkages between the choice of social discount rate and in...

Discounting and Expropriation Risk

OpenAIRE

Giovanni Immordino; Mario Padula

2007-01-01

This paper investigates the association between discounting and risk of expropriation and provides the theoretical conditions that make a positive association consistent with rationality. Moreover, using a national representative sample and a representative sample of the 50+ in eleven European countries, we show that discounting increases with expropriation risk. The two surveys give direct measures of discount rate as well as measures derived from households consumption decisions and provide...

Hyperbolic Discounting of the Far-Distant Future

OpenAIRE

Anchugina, Nina; Ryan, Matthew; Slinko, Arkadii

2017-01-01

We prove an analogue of Weitzman's (1998) famous result that an exponential discounter who is uncertain of the appropriate exponential discount rate should discount the far-distant future using the lowest (i.e., most patient) of the possible discount rates. Our analogous result applies to a hyperbolic discounter who is uncertain about the appropriate hyperbolic discount rate. In this case, the far-distant future should be discounted using the probability-weighted harmonic mean of the possible...

Cognitive Procedures and Hyperbolic Discounting

NARCIS (Netherlands)

Nir, A.

2004-01-01

"Hyperbolic discount functions are characterized by a relatively high discount rate over short horizons and a relatively low discount rate over long horizons" (Laibson 1997).We suggest two cognitive procedures where individuals perceive future utility as decreasing at a decreasing rate as a function

Network Effects Versus Strategic Discounting

DEFF Research Database (Denmark)

Zucchini, Leon; Claussen, Jörg; Trüg, Moritiz

. Alternatively, research on strategic discounting suggests small operators use on-net discounts to advertise with low on-net prices. We test the relative strength of these effects using data on tariff setting in German mobile telecommunications between 2001 and 2009. We find that large operators are more likely......Mobile telecommunication operators routinely charge subscribers lower prices for calls on their own network than for calls to other networks (on-net discounts). Studies on tariff-mediated network effects suggest this is due to large operators using on-net discounts to damage smaller rivals...

Synchronisation of customers’ orders using discounts

DEFF Research Database (Denmark)

Buhayenko, Viktoryia; van Eikenhorst, Erik

2016-01-01

Conventionally, price discounts are offered to enhance demand, for example to get rid of excess inventory. This paper, however, studies the possibility of using discounts in situations when total demand is non-sensitive to changes in prices. By introducing a discount in some periods, the supplier...... the supplier's profit a modification of the heuristic which differs in the discount approximation used is developed....

Social Discounting under Risk.

Science.gov (United States)

Jin, Jia; Pei, Guanxiong; Ma, Qingguo

2017-01-01

As a measure of how prosocial behavior depends on social distance, social discounting is defined as the decrease in generosity between the decision maker and the recipient as the social distance increases. While risk is a ubiquitous part of modern life, there is limited research on the relationship between risk and prosocial behavior. In the present experiment, we empirically test whether risk has an influence on social discounting. We use the choice titration procedure to examine this effect. Our data show that independent of risk, participants are less eager to forego money and exhibit more selfishness toward a specific person when the social distance increases; these findings are reflected in the hyperbolic model. Interestingly, risk influences the shape of the social discounting function, which is reflected in the notable different discount rates. Individuals who make decisions under risk yield a smaller discount rate than those who make decisions without risk, i.e., under risk subjects reduce less their generosity as a function of the social distance. Furthermore, this distinct type of generosity occurs typically among individuals with 10-distance recipients but not with the closest- and furthest-social-distance recipients.

Adoption of residential solar power under uncertainty: Implications for renewable energy incentives

International Nuclear Information System (INIS)

Bauner, Christoph; Crago, Christine L.

2015-01-01

Many incentives at the state and federal level exist for household adoption of renewable energy like solar photovoltaic (PV) panels. Despite generous financial incentives the adoption rate is low. We use the option value framework, which takes into account the benefit of delaying investment in response to uncertainty, to examine the decision by households to invest in solar PV. Using a simulation model, we determine optimal adoption times, critical values of discounted benefits, and adoption rates over time for solar PV investments using data from Massachusetts. We find that the option value multiplier is 1.6, which implies that the discounted value of benefits from solar PV needs to exceed installation cost by 60% for investment to occur. Without any policies, median adoption time is eight years longer under the option value decision rule compared to the net present value decision rule where households equate discounted benefits to installation cost. Rebates and other financial incentives decrease adoption time, but their effect is attenuated if households apply the option value decision rule to solar PV investments. Results suggest that policies that reduce the uncertainty in returns from solar PV investments would be most effective at incentivizing adoption. - Highlights: • We examine household adoption of solar PV using the option value framework. • Uncertainty in benefits and costs leads to delay in investment timing. • Discounted benefits from solar PV have to exceed investment cost by 60% to trigger investment. • Policy incentives that reduce uncertainty in returns from solar PV are most effective.

Do the Powerful Discount the Future Less? The Effects of Power on Temporal Discounting.

Science.gov (United States)

Duan, Jinyun; Wu, Sherry J; Sun, Luying

2017-01-01

Individuals have the tendency to discount rewards in the future, known as temporal discounting, and we find that sense of power (the felt capacity to influence the thinking and behavior of others) reduces such tendency. In Studies 1 and 2, we used both an experiment and a survey with organizational employees to demonstrate that power reduced temporal discounting. In Study 3, we replicated study 1 while exploring a unique cultural trait of Danbo , or indifference to fame and wealth, across two ethnic groups (Han and Tibetan groups) in China. While power reduces temporal discounting, the relationship between the two may be leveraged by individual differences of optimism, frustration, and Danbo . The results imply a more nuanced interpretation of how individual and situational factors can affect intertemporal choice.

Towards a healthier discount procedure.

Science.gov (United States)

Klock, Rogier M; Brouwer, Werner Bf; Annemans, Lieven Jp; Bos, Jasper M; Postma, Maarten J

2005-02-01

Most national guidelines for pharmacoeconomic research prescribe discounting, mostly of money and health against the same rate. There is much debate on whether this is adequate. Two theoretical arguments, the consistency argument of Weinstein and Stason, and the paralyzing paradox of Keeler and Cretin, are mostly responsible for the current standards. However, more recently, several authors have indicated that the basis to claim the necessity of using similar discount rates is rather weak, both practically and theoretically. In terms of finding a new theoretical basis on which to base discount rates for money and, in particular, health, Van Hout has made an important suggestion arguing that the discount rate for health could be based on the expected growth in life expectancy and the diminishing marginal utility related to such additional health. Similarly, Gravelle and Smith argue that if the value of health grows over time, discount rates that are used for costs cannot directly be applied to effects, but should be adjusted downwards.

7 CFR 1786.53 - Discounted present value.

Science.gov (United States)

2010-01-01

... 7 Agriculture 12 2010-01-01 2010-01-01 false Discounted present value. 1786.53 Section 1786.53... Special Discounted Prepayments on RUS Direct/Insured Loans § 1786.53 Discounted present value. The Discounted Present Value shall be calculated five business days before prepayment is made by summing the...

7 CFR 1786.153 - Discounted present value.

Science.gov (United States)

2010-01-01

... 7 Agriculture 12 2010-01-01 2010-01-01 false Discounted present value. 1786.153 Section 1786.153... Discounted Prepayments on RUS Electric Loans § 1786.153 Discounted present value. (a) The discounted present value shall be calculated by summing the present values of all remaining payments on all Qualified Notes...

18 CFR 704.39 - Discount rate.

Science.gov (United States)

2010-04-01

... 18 Conservation of Power and Water Resources 2 2010-04-01 2010-04-01 false Discount rate. 704.39... STANDARDS AND PROCEDURES Standards for Plan Formulation and Evaluation § 704.39 Discount rate. (a) The interest rate to be used in plan formulation and evaluation for discounting future benefits and computing...

Delay Discounting: Pigeon, Rat, Human – Does it Matter?

Science.gov (United States)

Vanderveldt, Ariana; Oliveira, Luís; Green, Leonard

2016-01-01

Delay discounting refers to the decrease in subjective value of an outcome as the time to its receipt increases. Across species and situations, animals discount delayed rewards, and their discounting is well-described by a hyperboloid function. The current review begins with a comparison of discounting models and the procedures used to assess delay discounting in nonhuman animals. We next discuss the generality of discounting, reviewing the effects of different variables on the degree of discounting delayed reinforcers by nonhuman animals. Despite the many similarities in discounting observed between human and nonhuman animals, several differences have been proposed (e.g., the magnitude effect; nonhuman animals discount over a matter of seconds whereas humans report willing to wait months, if not years before receiving a reward), raising the possibility of fundamental species differences in intertemporal choice. After evaluating these differences, we discuss delay discounting from an adaptationist perspective. The pervasiveness of discounting across species and situations suggests it is a fundamental process underlying decision making. PMID:26881899

Probabilistic Discounting of Hypothetical Monetary Gains: University Students Differ in How They Discount "Won" and "Owed" Money

Science.gov (United States)

Weatherly, Jeffrey N.; Derenne, Adam

2013-01-01

The present study tested whether participants would discount "won" money differently than they would "owed" money in a probability-discounting task. Participants discounted $1000 or $100,000 that they had won in a sweepstakes or that was owed to them using the multiple-choice (Experiment 1) or fill-in-the-blank (Experiment 2) method of collecting…

Individual laboratory-measured discount rates predict field behavior.

Science.gov (United States)

Chabris, Christopher F; Laibson, David; Morris, Carrie L; Schuldt, Jonathon P; Taubinsky, Dmitry

2008-12-01

We estimate discount rates of 555 subjects using a laboratory task and find that these individual discount rates predict inter-individual variation in field behaviors (e.g., exercise, BMI, smoking). The correlation between the discount rate and each field behavior is small: none exceeds 0.28 and many are near 0. However, the discount rate has at least as much predictive power as any variable in our dataset (e.g., sex, age, education). The correlation between the discount rate and field behavior rises when field behaviors are aggregated: these correlations range from 0.09-0.38. We present a model that explains why specific intertemporal choice behaviors are only weakly correlated with discount rates, even though discount rates robustly predict aggregates of intertemporal decisions.

Intergenerational equity and the social discount rate

OpenAIRE

Scarborough, Helen

2011-01-01

Recent modelling of the costs and benefits of climate change has renewed debate regarding assumptions for the social discount rate in analysing the impacts of environmental change. Previous literature suggests two key factors influence estimates of the social discount rate: the rate of pure time preference and the elasticity of marginal utility of future consumption. These components of the social discount rate reinforce the linkages between the choice of social discount rate and intergenerat...

Discount cosmetic surgery: industry trends and strategies for success.

Science.gov (United States)

Krieger, Lloyd M

2002-08-01

Discount cosmetic surgery is a topic of interest to plastic surgeons. To understand this trend and its effects on plastic surgeons, it is necessary to review the economics of cosmetic surgery, plastic surgery's practice environment, and the broader business principles of service industries. Recent work looked at the economics of the plastic surgery market. This analysis demonstrated that increased local density of plastic surgeons was associated with lower adjusted fees for cosmetic procedures. A survey of plastic surgeons about their practice environment revealed that 93 percent categorized the majority of their patients as very or moderately price-sensitive. Fully 98 percent described their business climate as very or moderately competitive and most plastic surgeons thought they lost a sizable number of cosmetic patients within the last year for reasons of price.A standard industry analysis, when applied to cosmetic surgery, reveals the following: an increased number of surgeons leads to lower fees (reducing their bargaining power as suppliers), patients are price-sensitive (increasing their bargaining power as buyers), and there are few barriers to entry among providers (allowing potential new entrants into the market). Such a situation is conducive to discounting taking hold-and even becoming the industry norm. In this environment, business strategy dictates there are three protocols for success: discounting, differentiation, and focus. Discounting joins the trend toward cutting fees. Success comes from increasing volume and efficiency and thus preserving profits. Differentiation creates an industrywide perception of uniqueness; this requires broadly positioning plastic surgeons as holders of a distinct brand identity separate from other "cosmetic surgeons." The final strategy is to focus on a particular buyer group to develop a market niche, such as establishing a "Park Avenue" practice catering to patients who demand a prestigious surgeon, although this is

Discounting in economics and climate change

International Nuclear Information System (INIS)

Nordhaus, W.D.

1997-01-01

This paper examines the complexity of the issues surrounding the discounting issue as applied to the economics of climatic change. It is assumed that living standards will continue to improve, and that future generations will be more able to resource environmental improvements than our own. Measures to counter climate change now may have a deleterious effect on economic growth. Approaches to this situation include: lowering the discount rate; differential discounting; climate targeting; and emissions or concentrations limitations. Policies that focus directly on reducing pollutants are likely to have fewer deleterious economic effects than those that manipulate the discount rate on goods. 3 refs., 2 figs

Thermoeconomic analysis of storage systems for solar heating and cooling systems: A comparison between variable-volume and fixed-volume tanks

International Nuclear Information System (INIS)

Buonomano, Annamaria; Calise, Francesco; Ferruzzi, Gabriele

2013-01-01

The paper investigates different control strategies for the thermal storage management in SHC (Solar Heating and Cooling) systems. The SHC system under investigation is based on a field of evacuated solar collectors coupled with a single-stage LiBr–H 2 O absorption chiller; auxiliary thermal energy is supplied by a gas-fired boiler. The SHC is also equipped with a novel thermal storage system, consisting in a variable volume storage tank. It includes three separate tanks and a number of mixers and diverters managed by novel control strategies, based on combinations of series/parallel charging and discharging approaches. The aim of this component is to vary the thermal storage capacity as a function of the combinations of solar radiation availability and user thermal/cooling energy demands. The system allows one to increase the number of active tanks when the time shift between solar energy and user demand is high. Conversely, when this time shift is low, the number of active tanks is automatically reduced. In addition, when the solar energy in excess cannot be stored in such tanks, a heat exchanger is also used in the solar loop for producing DHW (Domestic Hot Water). The analysis is carried out by means of a zero-dimensional transient simulation model, developed by using the TRNSYS software. In order to assess the operating and capital costs of the systems under analysis, an economic model is also proposed. In addition, in order to determine the set of the synthesis/design variables which maximize the system profitability, a parametric analysis was implemented. The novel variable-volume storage system, in both the proposed configurations, was also compared with a constant-volume storage system from the energy and economic points of view. The results showed that the presented storage system allows one to save up to 20% of the natural gas used by the auxiliary boiler only for very high solar fractions. In all the other cases, marginal savings are achieved by the

Life cycle costing with a discount rate

Science.gov (United States)

Posner, E. C.

1978-01-01

This article studies life cycle costing for a capability needed for the indefinite future, and specifically investigates the dependence of optimal policies on the discount rate chosen. The two costs considered are reprocurement cost and maintenance and operations (M and O) cost. The procurement price is assumed known, and the M and O costs are assumed to be a known function, in fact, a non-decreasing function, of the time since last reprocurement. The problem is to choose the optimum reprocurement time so as to minimize the quotient of the total cost over a reprocurement period divided by the period. Or one could assume a discount rate and try to minimize the total discounted costs into the indefinite future. It is shown that the optimum policy in the presence of a small discount rate hardly depends on the discount rate at all, and leads to essentially the same policy as in the case in which discounting is not considered.

Discounting the future: influence of the economic model.

Science.gov (United States)

West, R R

1996-06-01

To consider the effect of the economic discount rate on health care policy and the rationale for discounting the collective future of society generally. A review of the concept of discounting the future vis à vis the present from the points of view of individuals (who pass on) and of societies (that continue) and reconsideration of the application of discounting to typical public health scenarios. A public health service, within a basically stable society, which can reasonably anticipate a nearly certain future. Discounting necessarily overvalues the "here and now" compared with the future. While applications of discount rates, typical of those employed in health economic studies in recent years, may seem rational in health care programmes directed at middle aged employed people, they do not for the young and the elderly, important recipients of health care. The consequences of discounting do not accord with the aims and objectives of public health. The "time preferences" of transient individuals within a stable society do not provide a rational basis for time preference of a stable society collectively. Discounting inevitably encourages "short termism" and hence biases public policy decision making. The neoclassical theory that gave rise to the concept of discounting requires revision.

7 CFR 1786.98 - Discounted present value.

Science.gov (United States)

2010-01-01

... 7 Agriculture 12 2010-01-01 2010-01-01 false Discounted present value. 1786.98 Section 1786.98... Discounted present value. (a) The Discounted Present Value shall be calculated by RUS before prepayment is made by summing the present values of all remaining payments on all outstanding notes according to the...

Discounting the distant future-Data on Australian discount rates estimated by a stochastic interest rate model.

Science.gov (United States)

Truong, Chi; Trück, Stefan

2017-04-01

Data on certainty equivalent discount factors and discount rates for stochastic interest rates in Australia are provided in this paper. The data has been used for the analysis of investments into climate adaptation projects in ׳It׳s not now or never: Implications of investment timing and risk aversion on climate adaptation to extreme events ׳ (Truong and Trück, 2016) [3] and can be used for other cost-benefit analysis studies in Australia. The data is of particular interest for the discounting of projects that create monetary costs and benefits in the distant future.

Discounting in the economic evaluation of health care interventions.

Science.gov (United States)

Krahn, M; Gafni, A

1993-05-01

Do economic theories that underlie discounting have specific implications for program evaluation in health? In this study, both the contemporary practice and the theoretical foundations of discounting are reviewed. The social discount rate controversy is considered, and the two major concepts (i.e., opportunity cost and time preference) involved in the formulation of a social discount rate are outlined. Also described are the arguments for discounting proposed by thinkers in non-economic disciplines. Finally, the implications of choosing a discount rate for evaluation of individual health care programs are considered. It is argued that the conventional practice of discounting all health care programs at a rate of 5% may not consistently reflect societal or individual preference. Specific recommendations arising from this paper are: 1) given the considerable disagreement at the theoretical level as to the appropriate social discount rate, analysts should be specific about what theoretical approach underlies their choice of rate, especially when the analytic result is sensitive to the discount rate; 2) the discount rate chosen should be appropriate for the perspective of the analysis (social vs. individual vs. institutional, etc.); 3) when appropriate, measures should be taken to avoid double discounting, because some health related outcome measures already incorporate individuals' time preference; and 4) it is suggested that the political process may serve as the appropriate means of reflecting social values in the choice of a discount rate. In addition, the authors argue that a consensus conference approach, with political participation, offers a flexible, pragmatic, and explicit way of synthesizing the empirical, normative, and ethical considerations that underlie choice of a discount rate.

Optimal Discount Rates for Government Projects

OpenAIRE

Park, Sangkyun

2012-01-01

Project selection based on the net present value can be optimal only if the discount rate is optimal. The optimal discount rate for a government project can be a risk-free rate, a comparable market rate (market interest rate corresponding to the risk of cash flows to the government), or an adjusted market rate, depending on circumstances. This paper clarifies the conditions for each case. Provided that the optimal discount rate is the comparable market rate, it varies across intervention meth...

Measurement-theoretic foundations of time discounting in economics

OpenAIRE

Conrad Heilmann

2008-01-01

In economics, the concept of time discounting introduces weights on future goods to make these less valuable. Yet, both the conceptual motivation for time discounting and its specic functional form remain contested. To address these problems, this paper provides a measurement-theoretic framework of representation for time discounting. The representation theorem characterises time discounting factors by representations of time dierences. This general result can be interpreted with existing the...

Discounting risks in the far future

International Nuclear Information System (INIS)

Lind, Niels

2007-01-01

Risks to life and health in the future must be discounted in quantitative risk analysis. Yet, risks in the distant future become trivialized if any reasonable constant interest rate is used. Our responsibility toward future generations rules out such drastic discounting. A solution to this problem is proposed here, resting on the ethical principle that our duty with respect to saving lives is the same to all generations, whether in the near or far future. It is shown that when a choice between prospects involving different risks has a financing horizon T, then ordinary principles of discounting apply up to this time T, while no further discounting is justifiable after T. The principle implies that risk events beyond the financing horizon should be valued as if they occurred at the financing horizon

ACCOUNTING TREATMENT FOR COMMERCIAL DISCOUNTS ON GOODS PURCHASED FOR RESALE

Directory of Open Access Journals (Sweden)

HOLT GHEORGHE

2016-04-01

Full Text Available In the specialized literature there are two major categories of discounts applied between business partners: trade discounts and financial discounts. In terms of accounting, the method of calculation of interest is commercial and financial cuts, especially the tax treatment of them. Trade discounts are applied prior to financial services, and both types of discounts are calculated on the net earlier. Discounts are calculated after applying discounts and special an issue is to know the level of rebates, which are determined periodically based on the turnover.

Discounting the distant future—Data on Australian discount rates estimated by a stochastic interest rate model

Directory of Open Access Journals (Sweden)

Chi Truong

2017-04-01

Full Text Available Data on certainty equivalent discount factors and discount rates for stochastic interest rates in Australia are provided in this paper. The data has been used for the analysis of investments into climate adaptation projects in ׳It׳s not now or never: Implications of investment timing and risk aversion on climate adaptation to extreme events׳ (Truong and Trück, 2016 [3] and can be used for other cost-benefit analysis studies in Australia. The data is of particular interest for the discounting of projects that create monetary costs and benefits in the distant future.

Intergenerational discounting

International Nuclear Information System (INIS)

Schelling, T.C.

1995-01-01

A ''discount rate'' for the consumption of future generations from current investments for their benefit is typically composed of two parts: ''time preference'' and an allowance for the lower marginal utility of consumption due to higher average levels of consumption in the future. Time preference would be involved if one were postponing one's own consumption; it has little or nothing to do with income redistribution, which is what greenhouse abatement is about. A lower marginal utility of consumption is an anomaly in income redistribution: we rarely deliberately transfer consumption from the less to the more well-to-do. Time may serve as a kind of measure of distance; we may prefer beneficiaries who are closer in time, in geographical distance, in culture, surely in kinship. Perhaps to keep our thinking straight we should use a term like ''depreciation'', rather than ''discounting''. (Author)

Discount-Optimal Infinite Runs in Priced Timed Automata

DEFF Research Database (Denmark)

Fahrenberg, Uli; Larsen, Kim Guldstrand

2009-01-01

We introduce a new discounting semantics for priced timed automata. Discounting provides a way to model optimal-cost problems for infinite traces and has applications in optimal scheduling and other areas. In the discounting semantics, prices decrease exponentially, so that the contribution...

Discounting Behaviour and the Magnitude Effect

DEFF Research Database (Denmark)

Andersen, Steffen; Harrison, Glenn W.; Lau, Morten Igel

2013-01-01

We evaluate the claim that individuals exhibit a magnitude effect in their discounting behaviour, where higher discount rates are inferred from choices made with lower principals, all else being equal. If the magnitude effect is quantitatively significant, it is not appropriate to use one discount...... rate that is independent of the scale of the project for cost–benefit analysis and capital budgeting. Using data from a field experiment in Denmark, we find statistically significant evidence of a magnitude effect that is much smaller than is claimed. This evidence surfaces only if one controls...

Survey of time preference, delay discounting models

Directory of Open Access Journals (Sweden)

John R. Doyle

2013-03-01

Full Text Available The paper surveys over twenty models of delay discounting (also known as temporal discounting, time preference, time discounting, that psychologists and economists have put forward to explain the way people actually trade off time and money. Using little more than the basic algebra of powers and logarithms, I show how the models are derived, what assumptions they are based upon, and how different models relate to each other. Rather than concentrate only on discount functions themselves, I show how discount functions may be manipulated to isolate rate parameters for each model. This approach, consistently applied, helps focus attention on the three main components in any discounting model: subjectively perceived money; subjectively perceived time; and how these elements are combined. We group models by the number of parameters that have to be estimated, which means our exposition follows a trajectory of increasing complexity to the models. However, as the story unfolds it becomes clear that most models fall into a smaller number of families. We also show how new models may be constructed by combining elements of different models. The surveyed models are: Exponential; Hyperbolic; Arithmetic; Hyperboloid (Green and Myerson, Rachlin; Loewenstein and Prelec Generalized Hyperboloid; quasi-Hyperbolic (also known as beta-delta discounting; Benhabib et al's fixed cost; Benhabib et al's Exponential / Hyperbolic / quasi-Hyperbolic; Read's discounting fractions; Roelofsma's exponential time; Scholten and Read's discounting-by-intervals (DBI; Ebert and Prelec's constant sensitivity (CS; Bleichrodt et al.'s constant absolute decreasing impatience (CADI; Bleichrodt et al.'s constant relative decreasing impatience (CRDI; Green, Myerson, and Macaux's hyperboloid over intervals models; Killeen's additive utility; size-sensitive additive utility; Yi, Landes, and Bickel's memory trace models; McClure et al.'s two exponentials; and Scholten and Read's trade

Individual health discount rate in patients with ulcerative colitis.

Science.gov (United States)

Waljee, Akbar K; Morris, Arden M; Waljee, Jennifer F; Higgins, Peter D R

2011-06-01

In cost-effectiveness analysis, discount rates are used in calculating the value of future costs and benefits. However, standard discount rates may not accurately describe the decision-making of patients with ulcerative colitis (UC). These patients often choose the long-term risks of immunosuppressive therapy over the short-term risks of colectomy, demonstrating very high discount rates for future health. In this study we aimed to measure the discount rate in UC patients and identify variables associated with the discount rate. We surveyed patients with UC and patients who were postcolectomy for UC to measure their valuations of UC and colectomy health states. We used Standard Gamble (SG) and Time-Trade-Off (TTO) methods to assess current and future health state valuations and calculated the discount rate. Participants included 150 subjects with UC and 150 subjects who were postcolectomy for UC. Adjusted discount rates varied widely (0%-100%), with an overall median rate of 55.0% (interquartile range [IQR] 20.6-100), which was significantly higher than the standard rate of 5%. Within the normal range of discount rates, patients' expected discount rate increased by 0.80% for each additional year of age, and female patients had discount rates that averaged ≈ 8% less than their age-matched counterparts and approached statistical significance. The accepted discount rate of 5% grossly underestimates UC patients' preference for long-term over short-term risk. This might explain UC patients' frequent choice of the long-term risks of immunosuppressive medical therapy over the short-term risks of colectomy. Copyright © 2010 Crohn's & Colitis Foundation of America, Inc.

77 FR 68886 - Rate for Use in Federal Debt Collection and Discount and Rebate Evaluation

Science.gov (United States)

2012-11-16

... DEPARTMENT OF THE TREASURY Fiscal Service Rate for Use in Federal Debt Collection and Discount and... responsible for computing and publishing the percentage rate to be used in assessing interest charges for outstanding debts owed to the Government. Treasury's Cash Management Requirements (TFM Volume I, Part 6...

Observed and Normative Discount Functions in Addiction and other Diseases.

Science.gov (United States)

Cruz Rambaud, Salvador; Muñoz Torrecillas, María J; Takahashi, Taiki

2017-01-01

The aim of this paper is to find a suitable discount function able to describe the progression of a certain addiction or disease under treatment as a discounting process. In effect, a certain indicator related to a disease decays over time in a manner which is mathematically similar to the way in which discounting has been modeled. We analyze the discount functions observed in experiments which study addictive and other problematic behaviors as well as some alternative hyperbola-like discount functions in order to fit the patience exhibited by the subject after receiving the treatment. Additionally, it has been experimentally found that people with addiction display high rates of discount (impatience) and preference reversals (dynamic inconsistency). This excessive discounting must be correctly modeled by a suitable discount function, otherwise, it can become a trans-disease process underlying addiction and other disorders. The (generalized) exponentiated hyperbolic discount function is proposed to describe the progression of a disease with respect to the treatment, since it maintains the property of inconsistency by exhibiting a decreasing discount rate after an initial period in which the opposite occurs.

Evaluation of Deep Discount Fare Strategies

Science.gov (United States)

1995-08-01

This report evaluates the success of a fare pricing strategy known as deep discounting, that entails the bulk sale of transit tickets or tokens to customers at a significant discount compared to the full fare single ticket price. This market-driven s...

Essays on Discounting Behavior and Gambling Behavior

OpenAIRE

Jessen, Lasse J.

2016-01-01

This thesis consists of three independent chapters on the elicitation of individual discount rates and on the estimation of gambling prevalence in Denmark. The first chapter, “Discount Rate Sensitivity to Background Consumption and Consumption Smoothing,” studies the sensitivity of individual discount rates with respect to background consumption and consumption smoothing. I use simulated choice data from standard decision tasks in time preference experiments and show that indiv...

Positive mood effects on delay discounting.

Science.gov (United States)

Hirsh, Jacob B; Guindon, Alex; Morisano, Dominique; Peterson, Jordan B

2010-10-01

Delay discounting is the process by which the value of an expected reward decreases as the delay to obtaining that reward increases. Individuals with higher discounting rates tend to prefer smaller immediate rewards over larger delayed rewards. Previous research has indicated that personality can influence an individual's discounting rates, with higher levels of Extraversion predicting a preference for immediate gratification. The current study examined how this relationship would be influenced by situational mood inductions. While main effects were observed for both Extraversion and cognitive ability in the prediction of discounting rates, a significant interaction was also observed between Extraversion and positive affect. Extraverted individuals were more likely to prefer an immediate reward when first put in a positive mood. Extraverts thus appear particularly sensitive to impulsive, incentive-reward-driven behavior by temperament and by situational factors heightening positive affect. (PsycINFO Database Record (c) 2010 APA, all rights reserved).

Destination discount : A sensible road for national brands?

NARCIS (Netherlands)

Deleersnyder, B.; Koll, O.

2012-01-01

Purpose – This paper aims to study the consequences of listing national brands in discounters. Is the discount channel a promising outlet for manufacturer brands? Is it an effective means to attract new buyers? Which combination of brand and discount destination at which price is best suited for

Tracking the Discount: Tuition Discount Rates, Net Tuition Revenue, and Efforts to Inform Institutional Practices. Professional File. Article 133, Fall 2013

Science.gov (United States)

Davis, Natalie Pullaro; Redd, Kenneth E.

2013-01-01

This article uses findings from the 2012 Tuition Discounting Study (TDS) conducted by the National Association of College and University Business Officers (NACUBO) to provide a framework for institutional researchers to develop and adapt their own custom tuition discounting definitions and formulas. Under tuition discounting, colleges and…

Do Declining Discount Rates lead to Time Inconsistent Economic Advice?

DEFF Research Database (Denmark)

Hansen, Anders Chr.

2006-01-01

This paper addresses the risk of time inconsistency in economic appraisals related to the use of hyperbolic discounting (declining discount rates) instead of exponential discounting (constant discount rate). Many economists are uneasy about the prospects of potential time inconsistency. The paper...

Time management problems and discounted utility.

Science.gov (United States)

König, Cornelius J; Kleinmann, Martin

2007-05-01

The lens of behavioral decision theory offers a new perspective for research on time management. The basic idea of this approach is that people discount future consequences of their time management decisions, meaning that they work on tasks with smaller but sooner outcomes rather than on tasks with larger but later outcomes. The authors performed 2 experimental studies to test whether people are sensitive to differences in the discounted utility of time management decisions. In Experiment 1, they used vignettes of typical time management situations; Experiment 2 was a laboratory simulation (an in-basket task that was part of a training assessment). Participants in both studies were German students. As expected, manipulating the discounted utility of options resulted in different time management decisions. In Experiment 1, reactions to time management situations were judged as less likely if the reactions had lower discounted utilities. In Experiment 2, people spent less time on an interruption.

Value of the future: Discounting in random environments

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Farmer, J. Doyne; Geanakoplos, John; Masoliver, Jaume; Montero, Miquel; Perelló, Josep

2015-05-01

We analyze how to value future costs and benefits when they must be discounted relative to the present. We introduce the subject for the nonspecialist and take into account the randomness of the economic evolution by studying the discount function of three widely used processes for the dynamics of interest rates: Ornstein-Uhlenbeck, Feller, and log-normal. Besides obtaining exact expressions for the discount function and simple asymptotic approximations, we show that historical average interest rates overestimate long-run discount rates and that this effect can be large. In other words, long-run discount rates should be substantially less than the average rate observed in the past, otherwise any cost-benefit calculation would be biased in favor of the present and against interventions that may protect the future.

Assessing delay discounting in mice

OpenAIRE

Mitchell, Suzanne H.

2014-01-01

Delay discounting (also intertemporal choice or impulsive choice) is the process by which delayed outcomes, such as delayed food delivery, are valued less than the same outcomes delivered immediately or with a shorter delay. This process is of interest because many psychopathologies, including substance dependence, pathological gambling, attention deficit hyperactivity disorder and conduct disorder, are characterized by heightened levels of delay discounting. Some of these disorders are herit...

Drinking status but not acute alcohol consumption influences delay discounting.

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Adams, Sally; Attwood, Angela S; Munafò, Marcus R

2017-09-01

The aim of this study was to investigate the following: (a) the effects of acute alcohol on delay discounting; (b) the effects of drinking status on delayed discounting; and (c) whether these effects differ according to reward type (alcohol vs. money). Heavy and light social alcohol users (n = 96) were randomized to receive either an acute dose of alcohol at 0.4 or 0.6 g/kg or placebo in a between-subjects, double-blind design. Delay discounting of alcohol and monetary rewards was measured using a hyperbolic model, with higher scores indicative of greater delay discounting. ANOVA of discount scores indicated a main effect of reward type, where all participants had higher discount scores for alcohol versus money rewards. A main effect of drinking status was also observed, where heavier drinkers had higher discount scores compared with lighter drinkers. We did not observe a main effect of acute alcohol use on delay discounting or the hypothesized interactions between acute alcohol use and drinking status with reward type. Our data suggest that heavier drinkers discount the value of delayed rewards more steeply than lighter drinkers. Delay discounting may therefore be a promising marker of heavy alcohol consumption in social drinkers. Copyright © 2017 John Wiley & Sons, Ltd.

The Individual Health Discount Rate in Patients with Ulcerative Colitis

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Waljee, Akbar K.; Morris, Arden M.; Waljee, Jennifer F.; Higgins, Peter D.R.

2015-01-01

Background In cost-effectiveness analysis, discount rates are used in calculating the value of future costs and benefits. However, standard discount rates may not accurately describe the decision-making of patients with Ulcerative Colitis (UC). These patients often choose the long-term risks of immunosuppressive therapy over the short-term risks of colectomy, demonstrating very high discount rates for future health. In this study, we aimed to measure the discount rate in UC patients and identify variables associated with the discount rate. Methods We surveyed patients with UC and patients who were post-colectomy for UC to measure their valuations of UC and colectomy health states. We used Standard Gamble(SG) and Time-Trade-Off(TTO) methods to assess current and future health state valuations, and calculated the discount rate. Results Participants included 150 subjects with UC and 150 subjects who were post-colectomy for UC. Discount rates varied widely (20.6%–100%) with an overall median rate of 55.0%, which was significantly higher than the standard rate of 5%. Older age and male gender and predicted high discount rates (aversion to immediate risk in favor of distant future risk). For each additional decade of age, patients’ expected discount rate increased by 0.77%. Female gender was the only predictor of very low discount rates. Female patients’ discount rates averaged 8.1% less than age-matched males. Conclusions The accepted discount rate of 5% grossly underestimates UC patients’ preference for long-term over short-term risk. This might explain UC patients’ frequent choice of the long-term risks of immunosuppressive medical therapy over the short-term risks of colectomy. PMID:21560195

Observed and Normative Discount Functions in Addiction and other Diseases

OpenAIRE

Cruz Rambaud, Salvador; Mu?oz Torrecillas, Mar?a J.; Takahashi, Taiki

2017-01-01

The aim of this paper is to find a suitable discount function able to describe the progression of a certain addiction or disease under treatment as a discounting process. In effect, a certain indicator related to a disease decays over time in a manner which is mathematically similar to the way in which discounting has been modeled. We analyze the discount functions observed in experiments which study addictive and other problematic behaviors as well as some alternative hyperbola-like discount...

Selection of a discount rate for use in NRC regulatory analyses and application of discount rates to future averted health effects

International Nuclear Information System (INIS)

Paananen, O.H.; Hendrickson, P.L.

1993-01-01

The principal objective of this report is to provide background information and recommendations on the use of discount rates in the regulatory analysis process. The report focuses on two issues selecting the appropriate discount rate or rates to use when conducting a regulatory analysis, and applying the selected discount rate to future health-related benefits estimated to result from alternative regulatory actions

The Contrast Effect in Temporal and Probabilistic Discounting

Science.gov (United States)

Chen, Cheng; He, Guibing

2016-01-01

In this information age, messages related to time, and uncertainty surround us. At the same time, our daily lives are filled with decisions accompanied by temporal delay or uncertainty. Will such information influence our temporal and probabilistic discounting? The authors address this question from the perspectives of decision by sampling (DbS) theory and psychological distance theory. Studies 1 and 2 investigated the effect of contextual messages on temporal discounting and probabilistic discounting, respectively. The results indicated that participants who memorized messages about long-term and low-probability events rated delay or uncertainty as mentally closer and exhibited a less degree of value discounting than those who memorized messages regarding short-term and high-probability events. In addition, a sense of distance from present or reality mediated the effect of contextual messages on value discounting. The implications of the current findings for theory and applications are discussed. PMID:27014122

Valuing companies by cash flow discounting: Ten methods and nine theories

OpenAIRE

Fernández , Pablo

2002-01-01

This paper is a summarized compendium of all the methods and theories on company valuation using cash flow discounting. The paper shows the ten most commonly used methods for valuing companies by cash flow discounting: 1) free cash flow discounted at the WACC; 2) equity cash flows discounted at the required return to equity; 3) capital cash flows discounted at the WACC before tax; 4) APV (Adjusted Present Value); 5) the business's risk-adjusted free cash flows discounted at the required retur...

Explicit information reduces discounting behavior in monkeys

Directory of Open Access Journals (Sweden)

John ePearson

2010-12-01

Full Text Available Animals are notoriously impulsive in common laboratory experiments, preferring smaller, sooner rewards to larger, delayed rewards even when this reduces average reward rates. By contrast, the same animals often engage in natural behaviors that require extreme patience, such as food caching, stalking prey, and traveling long distances to high quality food sites. One possible explanation for this discrepancy is that standard laboratory delay discounting tasks artificially inflate impulsivity by subverting animals’ common learning strategies. To test this idea, we examined choices made by rhesus macaques in two variants of a standard delay discounting task. In the conventional variant, post-reward delays were uncued and adjusted to render total trial length constant; in the second, all delays were cued explicitly. We found that measured discounting was significantly reduced in the cued task, with discount rates well below those reported in studies using the standard uncued design. When monkeys had complete information, their decisions were more consistent with a strategy of reward rate maximization. These results indicate that monkeys, and perhaps other animals, are more patient than is normally assumed, and that laboratory measures of delay discounting may overstate impulsivity.

Equivalence of the different discounted cash flow valuation methods. Different alternatives for determining the discounted value of tax shields and their implications for the valuation

OpenAIRE

Fernández, Pablo

1999-01-01

This paper addresses the valuation of firms by cash flow discounting. The first part shows that the four most commonly used discounted cash flow valuation methods (free cash flow discounted at the WACC; cash flow available for equity holders discounted at the required return on the equity flows; capital cash flow discounted at the WACC before taxes; and Adjusted Present Value) always give the same value. This result is logical because all the methods analyse the same reality under the same hy...

The effects of the framing of time on delay discounting.

Science.gov (United States)

DeHart, William Brady; Odum, Amy L

2015-01-01

We examined the effects of the framing of time on delay discounting. Delay discounting is the process by which delayed outcomes are devalued as a function of time. Time in a titrating delay discounting task is often framed in calendar units (e.g., as 1 week, 1 month, etc.). When time is framed as a specific date, delayed outcomes are discounted less compared to the calendar format. Other forms of framing time; however, have not been explored. All participants completed a titrating calendar unit delay-discounting task for money. Participants were also assigned to one of two delay discounting tasks: time as dates (e.g., June 1st, 2015) or time in units of days (e.g., 5000 days), using the same delay distribution as the calendar delay-discounting task. Time framed as dates resulted in less discounting compared to the calendar method, whereas time framed as days resulted in greater discounting compared to the calendar method. The hyperboloid model fit best compared to the hyperbola and exponential models. How time is framed may alter how participants attend to the delays as well as how the delayed outcome is valued. Altering how time is framed may serve to improve adherence to goals with delayed outcomes. © Society for the Experimental Analysis of Behavior.

48 CFR 952.251-70 - Contractor employee travel discounts.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Contractor employee travel... Contractor employee travel discounts. As prescribed in 951.7002, insert the following clause: Contractor Employee Travel Discounts (AUG 2009) (a) The Contractor shall take advantage of travel discounts offered to...

The neural basis of cultural differences in delay discounting.

Science.gov (United States)

Kim, Bokyung; Sung, Young Shin; McClure, Samuel M

2012-03-05

People generally prefer to receive rewarding outcomes sooner rather than later. Such preferences result from delay discounting, or the process by which outcomes are devalued for the expected delay until their receipt. We investigated cultural differences in delay discounting by contrasting behaviour and brain activity in separate cohorts of Western (American) and Eastern (Korean) subjects. Consistent with previous reports, we find a dramatic difference in discounting behaviour, with Americans displaying much greater present bias and elevated discount rates. Recent neuroimaging findings suggest that differences in discounting may arise from differential involvement of either brain reward areas or regions in the prefrontal and parietal cortices associated with cognitive control. We find that the ventral striatum is more greatly recruited in Americans relative to Koreans when discounting future rewards, but there is no difference in prefrontal or parietal activity. This suggests that a cultural difference in emotional responsivity underlies the observed behavioural effect. We discuss the implications of this research for strategic interrelations between Easterners and Westerners.

Design and assessment of solar PV plant for girls hostel (GARGI of MNIT University, Jaipur city: A case study

Directory of Open Access Journals (Sweden)

Rahul Khatri

2016-11-01

Full Text Available In this paper designing and assessment of a solar PV plant for meeting the energy demand of girl’s hostel at MNIT University Jaipur city was analyzed. A solar PV plant was designed with its financial and environmental assessment considering recent market prices. All the aspects related to a solar PV plant were considered for financial feasibility of PV plant near this location. The different financial parameters which affect the financial feasibility of PV plant were considered i.e. discount rate, effective discount rate, rate of escalation of electricity cost, salvage value of the plant etc. The environmental aspect related with the energy generated with PV plant i.e. reduction in carbon emission and carbon credits earned was also considered. Result obtained with the assessment of the proposed plant with different discount rate and current rate of inflation shows that the max IRR 6.85% and NPV of $1,430,834 was obtained with a discount rate of 8% and an inflation rate of 7.23% when no land cost considered and if land cost was considered the maximum IRR was 1.96% and NPV of $630,833. Minimum discounted payback of the plant will be 13.4 years if inflation was considered.

A social discounting model based on Tsallis’ statistics

Science.gov (United States)

Takahashi, Taiki

2010-09-01

Social decision making (e.g. social discounting and social preferences) has been attracting attention in economics, econophysics, social physics, behavioral psychology, and neuroeconomics. This paper proposes a novel social discounting model based on the deformed algebra developed in the Tsallis’ non-extensive thermostatistics. Furthermore, it is suggested that this model can be utilized to quantify the degree of consistency in social discounting in humans and analyze the relationships between behavioral tendencies in social discounting and other-regarding economic decision making under game-theoretic conditions. Future directions in the application of the model to studies in econophysics, neuroeconomics, and social physics, as well as real-world problems such as the supply of live organ donations, are discussed.

Accounting of discounts, acquired by an enterprise when purchasing production inventories

Directory of Open Access Journals (Sweden)

Shishkina A.V.

2017-01-01

Full Text Available Different types of discounts for the price of a product are quite common in transactions. They are frequently used by industrial enterprises as well: they receive discounts when they purchase production inventories; they offer discounts when they sell the finished product. Industrial enterprise strive to minimize costs when purchasing raw materials necessary for manufacturing and therefore it is interested in acquiring a discount from supplier. Acquiring a discount is a fact of economic life and must be registered in financial accounts of an enterprise, however nowadays the patterns of accounting of such operations are not regulated by any special normative documents and traditionally applied accounting patterns do not contain information on the amounts of received discounts. It is happening because they comply with the current rules of accounting, according to which inventories are accounted only after deduction of the received discount (so the discount is granted in form of verbal agreement. This is a precursor to the lack of data on the received discounts in financial accounting system of an industrial enterprise, to the impossibility of creation the information base for analyzing the effectiveness of the received discounts on its basis, to the violation of the principle of completeness and continuity of registering all the economic life events in accounting. The article offers the already existing variants of financial accounting of the received discounts, analyzes its advantages and disadvantages from the point of view of compliance with the current legislative system and economic contents of discount operation. Proprietary technology of financial accounting of discounts, received by an industrial enterprise when purchasing production stock, is offered. This technology allows solving the stated methodological issues.

Essays on Discounting Behavior and Gambling Behavior

DEFF Research Database (Denmark)

Jessen, Lasse J.

This thesis consists of three independent chapters on the elicitation of individual discount rates and on the estimation of gambling prevalence in Denmark. The first chapter, “Discount Rate Sensitivity to Background Consumption and Consumption Smoothing,” studies the sensitivity of individual...

Climate policy under sustainable discounted utilitarianism

Energy Technology Data Exchange (ETDEWEB)

Dietz, Simon [London School of Economics and Political Science (LSE) (United Kingdom); Asheim, Geir B. [Oslo Univ. (Norway). Dept. of Economics

2011-08-15

Empirical evaluation of policies to mitigate climate change has been largely confined to the application of discounted utilitarianism (DU). DU is controversial, both due to the conditions through which it is justified and due to its consequences for climate policies, where the discounting of future utility gains from present abatement efforts makes it harder for such measures to justify their present costs. In this paper, we propose sustainable discounted utilitarianism (SDU) as an alternative principle for evaluation of climate policy. Unlike undiscounted utilitarianism, which always assigns zero relative weight to present utility, SDU is an axiomatically based criterion, which departs from DU by assigning zero weight to present utility if and only if the present is better off than the future. Using the DICE integrated assessment model to run risk analysis, we show that it is possible for the future to be worse off than the present along a 'business as usual' development path. Consequently SDU and DU differ, and willingness to pay for emissions reductions is (sometimes significantly) higher under SDU than under DU. Under SDU, stringent schedules of emissions reductions increase social welfare, even for a relatively high utility discount rate. (orig.)

Spatial discounting of food and social rewards in guppies (Poecilia reticulata

Directory of Open Access Journals (Sweden)

Nelly eMühlhoff

2011-04-01

Full Text Available In temporal discounting, animals trade off the time to obtain a reward against the quality of a reward, choosing between a smaller reward available sooner versus a larger reward available later. Similar discounting can apply over space, when animals choose between smaller and closer versus larger and more distant rewards. Most studies of temporal and spatial discounting in nonhuman animals use food as the reward, and it is not established whether animals trade off other preferred stimuli in similar ways. Here, we offered female guppies (Poecilia reticulata a spatial discounting task in which we measured preferences for a larger reward as the distance to it increased relative to a closer but smaller reward. We tested whether the fish discounted reward types differently by offering subjects either food items or same-sex conspecifics as rewards. Before beginning the discounting tasks, we conducted validation tests to ensure that subjects equally valued the food and social stimuli in the quantities provided. In the discounting task, subjects switched their preferences from the larger to the smaller reward as the distance to the larger reward increased (spatial discounting, but the pattern and magnitude of discounting did not differ across the two reward types. These findings indicate that guppies show similar patterns of discounting food and social rewards in a spatial task. In an analysis of travel times, however, the fish swam faster to food rewards than to shoaling partners. This difference in travel times implies that fish temporally discounted social rewards less steeply than food rewards. Thus, reward type influences temporal discounting, suggesting a dissociation between temporal and spatial discounting. Our results illustrate how animals adjust choices and travel times depending on both the type of cost (time, distance and benefits (food, social partners.

Estimating implied rates of discount in healthcare decision-making.

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West, R R; McNabb, R; Thompson, A G H; Sheldon, T A; Grimley Evans, J

2003-01-01

To consider whether implied rates of discounting from the perspectives of individual and society differ, and whether implied rates of discounting in health differ from those implied in choices involving finance or "goods". The study comprised first a review of economics, health economics and social science literature and then an empirical estimate of implied rates of discounting in four fields: personal financial, personal health, public financial and public health, in representative samples of the public and of healthcare professionals. Samples were drawn in the former county and health authority district of South Glamorgan, Wales. The public sample was a representative random sample of men and women, aged over 18 years and drawn from electoral registers. The health professional sample was drawn at random with the cooperation of professional leads to include doctors, nurses, professions allied to medicine, public health, planners and administrators. The literature review revealed few empirical studies in representative samples of the population, few direct comparisons of public with private decision-making and few direct comparisons of health with financial discounting. Implied rates of discounting varied widely and studies suggested that discount rates are higher the smaller the value of the outcome and the shorter the period considered. The relationship between implied discount rates and personal attributes was mixed, possibly reflecting the limited nature of the samples. Although there were few direct comparisons, some studies found that individuals apply different rates of discount to social compared with private comparisons and health compared with financial. The present study also found a wide range of implied discount rates, with little systematic effect of age, gender, educational level or long-term illness. There was evidence, in both samples, that people chose a lower rate of discount in comparisons made on behalf of society than in comparisons made for

The effect of natural scenes on temporal and probability discounting

Directory of Open Access Journals (Sweden)

2015-09-01

Results: There was no significant difference in delay discounting between groups F(1,172 = .613, p = .607. Males discounted significantly less than females on temporal and probability discounting tasks F(1,300 = 6.795, p = .010; F(1,300 = 9.941, p = .002, respectively. Older individuals delay discount significantly less than younger individuals F(3,300 = 11.826, p < .001. Older individuals had significantly higher positive affect than younger individuals F(3,300 = 7.956, p < .001. Conclusions: The discounting functions obtained were consistent with previous studies. The results for age and gender on discounting contributes to discussion of these matters: While lower levels of impulsivity in older adults is perhaps to be expected, the gender effect obtained here is less easily explained. Contrary to Berry et al. (2014 we found no evidence for any effect of viewing natural scenes on discounting, regardless of their aesthetic properties. While this discrepancy could relate to the differences in methodology employed, it would suggest that the claims for an effect of natural scenes on impulsivity should be treated with caution.

Description, prescription and the choice of discount rates

International Nuclear Information System (INIS)

Baum, Seth D.

2009-01-01

The choice of discount rates is a key issue in the analysis of long-term societal issues, in particular environmental issues such as climate change. Approaches to choosing discount rates are generally placed into two categories: the descriptive approach and the prescriptive approach. The descriptive approach is often justified on grounds that it uses a description of how society discounts instead of having analysts impose their own discounting views on society. This paper analyzes the common forms of the descriptive and prescriptive approaches and finds that, in contrast with customary thinking, both forms are equally descriptive and prescriptive. The prescriptions concern who has standing (i.e. who is included) in society, how the views of these individuals are measured, and how the measurements are aggregated. Such prescriptions are necessary to choose from among the many possible descriptions of how society discounts. The descriptions are the measurements made given a choice of measurement technique. Thus, the labels 'descriptive approach' and 'prescriptive approach' are deeply misleading, as analysts cannot avoid imposing their own views on society. (author)

Shopping in discount stores

DEFF Research Database (Denmark)

Zielke, Stephan

2014-01-01

quarters of intentions to shop in discount stores. Value perception has the strongest total effect, which is partly mediated by enjoyment, shame and guilt. Attributions influence the shopping intention indirectly via value perception and emotions. The inferior quality attribution has the strongest total......This paper analyzes the impact of price-related attributions, emotions and value perception on the intention to shop at grocery discounters in an integrated framework. Moderating effects of price consciousness are also analyzed. The results show that the proposed model explains almost three...... effect, followed by the efficiency of the business model attribution. The unfairness to stakeholders and the tricks in price communication attribution mostly influence the shopping intention for less price-conscious customers....

Advantages of geosynchronous solar power satellites for terrestrial base-load electrical supply compared to other renewable energy sources - or why civilization needs solar power satellites

Energy Technology Data Exchange (ETDEWEB)

Strickland, J.K. Jr. [Texas Univ., Austin, TX (United States)

1998-06-01

The arguments in favour of using solar power satellites for primary base-load electrical supply are presented and compared with the advantages and drawbacks of other renewable energy sources, especially ground solar and wind systems. Popular misconceptions about energy use and the importation of space solar energy to the Earth`s surface are examined and discounted. Finally an optimal mix of space solar (focusing on geosynchronous solar power satellites), ground solar, and other energy sources is described which, it is argued, would be capable to meet future global energy demand. (UK)

On the Dividend Strategies with Non-Exponential Discounting

OpenAIRE

Zhao, Qian; Wei, Jiaqin; Wang, Rongming

2013-01-01

In this paper, we study the dividend strategies for a shareholder with non-constant discount rate in a diffusion risk model. We assume that the dividends can only be paid at a bounded rate and restrict ourselves to the Markov strategies. This is a time inconsistent control problem. The extended HJB equation is given and the verification theorem is proved for a general discount function. Considering the pseudo-exponential discount functions (Type I and Type II), we get the equilibrium dividend...

Time-discounting and tobacco smoking: a systematic review and network analysis.

Science.gov (United States)

Barlow, Pepita; McKee, Martin; Reeves, Aaron; Galea, Gauden; Stuckler, David

2017-06-01

Tobacco smoking harms health, so why do people smoke and fail to quit? An explanation originating in behavioural economics suggests a role for time-discounting, which describes how the value of a reward, such as better health, decreases with delay to its receipt. A large number of studies test the relationship of time-discounting with tobacco outcomes but the temporal pattern of this relationship and its variation according to measurement methods remain unclear. We review the association between time-discounting and smoking across (i) the life course, from initiation to cessation, and (ii) diverse discount measures. We identified 69 relevant studies in Web of Science and PubMed. We synthesized findings across methodologies and evaluated discount measures, study quality and cross-disciplinary fertilization. In 44 out of 54 studies, smokers more greatly discounted the future than non-smokers and, in longitudinal studies, higher discounting predicted future smoking. Smokers with lower time-discount rates achieved higher quit rates. Findings were consistent across studies measuring discount rates using hypothetical monetary or cigarette reward scenarios. The methodological quality of the majority of studies was rated as 'moderate' and co-citation analysis revealed an isolation of economics journals and a dearth of studies in public health. There is moderate yet consistent evidence that high time-discounting is a risk factor for smoking and unsuccessful cessation. Policy scenarios assuming a flat rate of population discounting may inadequately capture smokers' perceptions of costs and benefits. © The Author 2016; Published by Oxford University Press on behalf of the International Epidemiological Association

Discounting medical malpractice claim reserves for self-insured hospitals.

Science.gov (United States)

Frese, Richard; Kitchen, Patrick

2011-01-01

The hospital CFO often works with the hospital's actuary and external auditor to calculate the reserves recorded in financial statements. Hospital management, usually the CFO, needs to decide the discount rate that is most appropriate. A formal policy addressing the rationale for discounting and the rationale for selecting the discount rate can be helpful to the CFO, actuary, and external auditor.

High-Volume Production of Lightweight Multijunction Solar Cells

Science.gov (United States)

Youtsey, Christopher

2015-01-01

MicroLink Devices, Inc., has transitioned its 6-inch epitaxial lift-off (ELO) solar cell fabrication process into a manufacturing platform capable of sustaining large-volume production. This Phase II project improves the ELO process by reducing cycle time and increasing the yield of large-area devices. In addition, all critical device fabrication processes have transitioned to 6-inch production tool sets designed for volume production. An emphasis on automated cassette-to-cassette and batch processes minimizes operator dependence and cell performance variability. MicroLink Devices established a pilot production line capable of at least 1,500 6-inch wafers per month at greater than 80 percent yield. The company also increased the yield and manufacturability of the 6-inch reclaim process, which is crucial to reducing the cost of the cells.

The economics of climate change and the theory of discounting

International Nuclear Information System (INIS)

Philibert, C.

1999-01-01

This paper confronts the theory of discounting with climate change economics. Standard discounting would give long-term damages a very low present value. On the other hand, low discount rates would imply more sacrifices for present generations, although future generations may be richer. And using multiple rates would lead to economic inefficiencies. The paper first shows that arguments favouring a low or zero discount rate in general are weak, even from an ethical point of view. It goes on by considering different arguments in favour of discount rates decreasing over time, and by recalling the argument that non-reproducible environmental assets should be given a value growing over time. Through the example of climate change, it finally shows that the latter argument not only implies that the costs of damages associated to climate change should not be underestimated, but also reinforce the legitimacy of using decreasing discount rates. (author)

Steeper discounting of delayed rewards in schizophrenia but not first-degree relatives.

Science.gov (United States)

Yu, Linda Q; Lee, Sangil; Katchmar, Natalie; Satterthwaite, Theodore D; Kable, Joseph W; Wolf, Daniel H

2017-06-01

Excessive discounting of future rewards has been related to a variety of risky behaviors and adverse clinical conditions. Prior work examining delay discounting in schizophrenia suggests an elevated discount rate. However, it remains uncertain whether this reflects the disease process itself or an underlying genetic vulnerability, whether it is selective for delay discounting or reflects pervasive changes in decision-making, and whether it is driven by specific clinical dimensions such as cognitive impairment. Here we investigated delay discounting, as well as loss aversion and risk aversion, in three groups: schizophrenia (SZ), unaffected first-degree family members (FM), and controls without a family history of psychosis (NC). SZ had elevated discounting, without changes in loss aversion or risk aversion. Contrary to expectations, the FM group did not show an intermediate phenotype in discounting. Higher discount rates correlated with lower cognitive performance on verbal reasoning, but this did not explain elevated discount rates in SZ. Group differences were driven primarily by the non-smoking majority of the sample. This study provides further evidence for elevated discounting in schizophrenia, and demonstrates that steeper discounting is not necessarily associated with familial risk, cannot be wholly accounted for by cognitive deficits, and is not attributable to smoking-related impulsivity. Copyright © 2017 Elsevier Ireland Ltd. All rights reserved.

Stress hormones predict hyperbolic time-discount rates six months later in adults.

Science.gov (United States)

Takahashi, Taiki; Shinada, Mizuho; Inukai, Keigo; Tanida, Shigehito; Takahashi, Chisato; Mifune, Nobuhiro; Takagishi, Haruto; Horita, Yutaka; Hashimoto, Hirofumi; Yokota, Kunihiro; Kameda, Tatsuya; Yamagishi, Toshio

2010-01-01

Stress hormones have been associated with temporal discounting. Although time-discount rate is shown to be stable over a long term, no study to date examines whether individual differences in stress hormones could predict individuals' time-discount rates in the relatively distant future (e.g., six month later), which is of interest in neuroeconomics of stress-addiction association. We assessed 87 participants' salivary stress hormone (cortisol, cortisone, and alpha-amylase) levels and hyperbolic discounting of delayed rewards consisting of three magnitudes, at the time-interval of six months. For salivary steroid assays, we employed a liquid chromatography/ mass spectroscopy (LC/MS) method. The correlations between the stress hormone levels and time-discount rates were examined. We observed that salivary alpha-amylase (sAA) levels were negatively associated with time-discount rates in never-smokers. Notably, salivary levels of stress steroids (i.e., cortisol and cortisone) negatively and positively related to time-discount rates in men and women, respectively, in never-smokers. Ever-smokers' discount rates were not predicted from these stress hormone levels. Individual differences in stress hormone levels predict impulsivity in temporal discounting in the future. There are sex differences in the effect of stress steroids on temporal discounting; while there was no sex defference in the relationship between sAA and temporal discounting.

The Vivid Present: Visualization Abilities Are Associated with Steep Discounting of Future Rewards.

Science.gov (United States)

Parthasarathi, Trishala; McConnell, Mairead H; Luery, Jeffrey; Kable, Joseph W

2017-01-01

Humans and other animals discount the value of future rewards, a phenomenon known as delay discounting. Individuals vary widely in the extent to which they discount future rewards, and these tendencies have been associated with important life outcomes. Recent studies have demonstrated that imagining the future reduces subsequent discounting behavior, but no research to date has examined whether a similar principle applies at the trait level, and whether training visualization changes discounting. The current study examined if individual differences in visualization abilities are linked to individual differences in discounting and whether practicing visualization can change discounting behaviors in a lasting way. Participants ( n = 48) completed the Vividness of Visual Imagery Questionnaire (VVIQ) and delay discounting task and then underwent a 4-week intervention consisting of visualization training (intervention) or relaxation training (control). Contrary to our hypotheses, participants who reported greater visualization abilities (lower scores) on the VVIQ were higher discounters. To further examine this relationship, an additional 106 participants completed the VVIQ and delay discounting task. In the total sample ( n = 154), there was a significant negative correlation between VVIQ scores and discount rates, showing that individuals who are better visualizers are also higher discounters. Consistent with this relationship but again to our surprise, visualization training tended, albeit weakly, to increase discount rates, and those whose VVIQ decreased the most were those whose discount rates increased the most. These results suggest a novel association between visualization abilities and delay discounting.

Smoking, Discount Rates, and Returns to Education

Science.gov (United States)

Fersterer, Josef; Winter-Ebmer, Rudolf

2003-01-01

Individual time preference determines schooling enrolment. Moreover, smoking behavior in early ages has been shown to be highly related to time preference rates. Insofar as discount rates are uncorrelated to ability, predicting school enrolment by discount rates can get rid of the ability bias in an earnings regression. Accordingly, we use smoking…

Incomplete information and the closed-end fund discount

OpenAIRE

Barone-Adesi, Giovanni; Kim, Youngsoo

2008-01-01

We model the closed-end fund discount/premium in a version of Merton’s (1978) asset pricing model with incomplete information. In this economy, investors trade only assets which they “ know about” . The model generates a closed-end fund discount or premium, depending on risk-aversion parameters. The fund share price reverts to the net asset value on open-ending of the fund. The discount/premium is a result of two economic forces: (1) the fund manager’s objective is to maximize expected utilit...

Discounting of qualitatively different delayed health outcomes in current and never smokers

Science.gov (United States)

Friedel, Jonathan E.; DeHart, William B.; Frye, Charles C. J.; Rung, Jillian M.; Odum, Amy L.

2016-01-01

In delay discounting, temporally remote outcomes have less value. Cigarette smoking is associated with steeper discounting of money and consumable outcomes. It is presently unclear whether smokers discount health outcomes more than non-smokers. We sought to establish the generality of steep discounting for different types of health outcomes in cigarette smokers. Seventy participants (38 smokers and 32 non-smokers) completed four hypothetical outcome delay-discounting tasks: a gain of $500, a loss of $500, a temporary boost in health, and temporary cure from a debilitating disease. Participants reported the duration of each health outcome that would be equivalent to $500; these durations were then used in the respective discounting tasks. Delays ranged from 1 week to 25 years. Smokers’ indifference points for monetary gains, boosts in health, and temporary cures were lower than indifference points from non-smokers. Indifference points of one outcome were correlated with indifference points of other outcomes. Smokers demonstrate steeper discounting across a range of delayed outcomes. How a person discounts one outcome predicts how they will discount other outcomes. These two findings support our assertion that delay discounting is in part a trait. PMID:26691848

Temporal discounting and heart rate reactivity to stress.

Science.gov (United States)

Diller, James W; Patros, Connor H G; Prentice, Paula R

2011-07-01

Temporal discounting is the reduction of the value of a reinforcer as a function of increasing delay to its presentation. Impulsive individuals discount delayed consequences more rapidly than self-controlled individuals, and impulsivity has been related to substance abuse, gambling, and other problem behaviors. A growing body of literature has identified biological correlates of impulsivity, though little research to date has examined relations between delay discounting and markers of poor health (e.g., cardiovascular reactivity to stress). We evaluated the relation between one aspect of impulsivity, measured using a computerized temporal discounting task, and heart rate reactivity, measured as a change in heart rate from rest during a serial subtraction task. A linear regression showed that individuals who were more reactive to stress responded more impulsively (i.e., discounted delayed reinforcers more rapidly). When results were stratified by gender, the effect was observed for females, but not for males. This finding supports previous research on gender differences in cardiovascular reactivity and suggests that this type of reactivity may be an important correlate of impulsive behavior. Copyright © 2011 Elsevier B.V. All rights reserved.

Discounted cost model for condition-based maintenance optimization

International Nuclear Information System (INIS)

Weide, J.A.M. van der; Pandey, M.D.; Noortwijk, J.M. van

2010-01-01

This paper presents methods to evaluate the reliability and optimize the maintenance of engineering systems that are damaged by shocks or transients arriving randomly in time and overall degradation is modeled as a cumulative stochastic point process. The paper presents a conceptually clear and comprehensive derivation of formulas for computing the discounted cost associated with a maintenance policy combining both condition-based and age-based criteria for preventive maintenance. The proposed discounted cost model provides a more realistic basis for optimizing the maintenance policies than those based on the asymptotic, non-discounted cost rate criterion.

Testable Implications of Quasi-Hyperbolic and Exponential Time Discounting

OpenAIRE

Echenique, Federico; Imai, Taisuke; Saito, Kota

2014-01-01

We present the first revealed-preference characterizations of the models of exponential time discounting, quasi-hyperbolic time discounting, and other time-separable models of consumers’ intertemporal decisions. The characterizations provide non-parametric revealed-preference tests, which we take to data using the results of a recent experiment conducted by Andreoni and Sprenger (2012). For such data, we find that less than half the subjects are consistent with exponential discounting, and on...

Dual discounting in cost-benefit analysis for environmental impacts

International Nuclear Information System (INIS)

Kula, Erhun; Evans, David

2011-01-01

Discounting has been a long-established intertemporal efficiency tool in cost-benefit analysis which focuses on project selection at communal level with a view to maximising the social welfare. However, with the relentless growth in environmental stress that, in good parts, stems from investment projects the established criterion in discounting appears to be inadequate especially when environmental issues are taken into consideration. This paper looks at how dual focus on efficiency and sustainability can be achieved by using dual discounting, i.e. discounting environmental benefits separately and differently from other costs and benefits and applies this alternative criterion to an afforestation scheme in the United Kingdom which contains carbon sequestration in addition to timber benefits.

The Students Decision Making in Solving Discount Problem

Science.gov (United States)

Abdillah; Nusantara, Toto; Subanji; Susanto, Hery; Abadyo

2016-01-01

This research is reviewing students' process of decision making intuitively, analytically, and interactively. The research done by using discount problem which specially created to explore student's intuition, analytically, and interactively. In solving discount problems, researcher exploring student's decision in determining their attitude which…

Parabolic discounting of monetary rewards by physical effort

NARCIS (Netherlands)

Hartmann, M.N.; Hager, O.M.; Tobler, P.N.; Kaiser, S.

2013-01-01

When humans and other animals make decisions in their natural environments prospective rewards have to be weighed against costs. It is well established that increasing costs lead to devaluation or discounting of reward. While our knowledge about discount functions for time and probability costs is

Concordance between monetary and sexual delay discounting in men who have sex with men.

Science.gov (United States)

Jones, Jeb; Guest, Jodie L; Sullivan, Patrick S; Kramer, Michael R; Jenness, Samuel M; Sales, Jessica M

2017-12-07

Background: Delay discounting has been found to be associated with numerous health-related outcomes, including risky sexual behaviour. To date, it is unclear whether delay discounting measured in different domains is associated within individuals. The goal of this study was to assess the concordance of monetary and sexual delay discounting in men who have sex with men. Methods: Participants completed an online survey, including the Monetary Choice Questionnaire and the Sexual Discounting Task. Linear regression models were used to assess the association between monetary and sexual discount rates. Results: Sexual discount rates did not predict monetary discount rates. There was a substantial amount of clustering of sexual discount rates, requiring sexual discounting data to be categorised. Conclusions: Monetary and sexual delay discounting are distinct processes that are not necessarily associated within individuals, and monetary delay discounting is not an appropriate proxy measure for sexual impulsivity. Data from the Sexual Discounting Task are typically rank-transformed for analysis. These data suggest that this might be an invalid method of analysis. Future studies should investigate the distribution of their data to determine if it is appropriate to analyse sexual discounting data as a continuous measure.

Open access discount information

International Development Research Centre (IDRC) Digital Library (Canada)

Lauren Doyle

Wiley Interdisciplinary Reviews: Climate Change. Wiley offers OA in: Gold: ... International Journal of Health Services. Journal of ... Camridge University Press offers waivers and discounts based on: 1) Authors of ... based on the World Bank list.

Uncertain discount rates in climate policy analysis

International Nuclear Information System (INIS)

Newell, R.G.; Pizer, W.A.

2004-01-01

Consequences in the distant future - such as those from climate change--have little value today when discounted using conventional rates. This result contradicts our 'gut feeling' about such problems and often leads to ad hoc application of lower rates for valuations over longer horizons - a step facilitated by confusion and disagreement over the correct rate even over short horizons. We review the theory and intuition behind the choice of discount rates now and, importantly, the impact of likely variation in rates in the future. Correlated changes in future rates imply that the distant future should be discounted at much lower rates than suggested by the current rate, thereby raising the value of future consequences - regardless of opinions concerning the current rate. Using historic data to quantity the likely changes and correlation in changes in future rates, we find that future valuations rise by a factor of many thousands at horizons of 300 years or more, almost doubling the expected present value of climate mitigation benefits relative to constant 4% discounting. Ironically, uncertainty about future rates reduces the ratio of valuations based on alternate choices of the current rate

Heaven can wait. How religion modulates temporal discounting.

Science.gov (United States)

Paglieri, Fabio; Borghi, Anna M; Colzato, Lorenza S; Hommel, Bernhard; Scorolli, Claudia

2013-11-01

Evidence suggests that religious systems have specific effects on attentional and action control processes. The present study investigated whether religions also modulate choices that involve higher-order knowledge and the delay of gratification in particular. We tested Dutch Calvinists, Italian Catholics, and Atheists from both countries/cultures using an intertemporal choice task where participants could choose between a small immediate and a larger delayed monetary reward. Based on the Calvinist theory of predestination and the Catholic concept of a cycle of sin-confession-expiation, we predicted a reduced delay tolerance, i.e., higher discount rate, for Italian Catholics than for Dutch Calvinists, and intermediate rates for the two atheist groups. Analyses of discount rates support our hypotheses. We also found a magnitude effect on temporal discounting and faster responses for large than for small rewards across religions and countries/cultures. We conclude that temporal discounting is specifically modulated by religious upbringing rather than by generic cultural differences.

Online Discount Luxury: In Search of Guilty Customers

Directory of Open Access Journals (Sweden)

Dr. Nikolai Ostapenko

2013-07-01

Full Text Available Discount luxury sites mainly serve as online platform for the “flash sales” method, offering limited-time availability of high fashion, travel, home décor, and culinary bargains to its members. The idea of moving “sample sales” online was first realized on a European website, Vente-Privee.com, which now has more than 13 million customers. Following Gilt’s introduction in the United States, flash sales skyrocketed and led to the launching of many new sites, which have proved popular both with consumers seeking impressive discounts on luxury goods, and with exclusive brands wanting to unload their unsold stock quickly. Recently we found that many of the sites are going through the customer fatigue stage, and their further success requires more than just deep discounts. The article reviews possible new business strategies and models within discount luxury retail segment mainly based upon experience of the Gilt Groupe.

Proceedings of solar energy storage options. Volume I. An intensive workshop on thermal energy storage for solar heating and cooling

Energy Technology Data Exchange (ETDEWEB)

None

1979-01-01

Separate abstracts were prepared for the 28 papers presented. Panel chairmen's summaries are included; the complete panel reports will be published in Volume II of the Solar Energy Storage Options Workshop proceedings. (WHK)

Can we use human judgments to determine the discount rate?

Science.gov (United States)

Baron, J

2000-12-01

It has been suggested that the long-term discount rate for environmental goods should decrease at longer delays. One justification for this suggestion is that human judgments support it. This article presents an experiment showing that judgments concerning discount rates are internally inconsistent. These results point to potential problems with the use of judgments referenda for determining discount rates in cost-benefit analyses.

Individual discount rates and smoking: evidence from a field experiment in Denmark.

Science.gov (United States)

Harrison, Glenn W; Lau, Morten I; Rutström, E Elisabet

2010-09-01

We elicit measures of individual discount rates from a representative sample of the Danish population and test two substantive hypotheses. The first hypothesis is that smokers have higher individual discount rates than non-smokers. The second hypothesis is that smokers are more likely to have time inconsistent preferences than non-smokers, where time inconsistency is indicated by a hyperbolic discounting function. We control for the concavity of the utility function in our estimates of individual discount rates and find that male smokers have significantly higher discount rates than male non-smokers. However, smoking has no significant association with discount rates among women. This result is robust across exponential and hyperbolic discounting functions. We consider the sensitivity of our conclusions to a statistical specification that allows each observation to potentially be generated by more than one latent data-generating process. Copyright 2010 Elsevier B.V. All rights reserved.

INFLUENCE OF DISCOUNT PRICE ANNOUNCEMENTS ON CONSUMER’S BEHAVIOR

Directory of Open Access Journals (Sweden)

Giuliana Isabella

2012-10-01

Full Text Available The theoretical framework that underpins this research study is based on the Prospect Theory formulated by Kahneman and Tversky, and Thaler´s Mental Accounting Theory. The research aims to evaluate the consumers’ behavior when different patterns of discount are offered (in percentage and absolute value and for larger and smaller discounts. Two experiments were conducted to explore these patterns of behavior and the results that were obtained supported the view that the framing effect was a common occurrence. The patterns of choice of individuals in a sample were found to be different due to changes in the ways discounts were offered. This can be explained by the various ways of presenting discount rates that had an impact on the influence of purchase intentions, recommendations and quality perception.

Associations between Antisocial Personality Disorder and Sex on Discounting Rates.

Science.gov (United States)

Andrade, Leonardo F; Riven, Levi; Petry, Nancy M

2014-12-01

Numerous studies show that individuals with substance use and gambling problems discount delayed and probabilistic outcomes at different rates than controls. Few studies, however, investigated the association of discounting with antisocial personality disorders (ASPD), and none evaluated whether sex impacts these relationships. Because females with ASPD exhibit different patterns of antisocial behavior than their male counterparts, they may also differ in their decision-making tendencies. This study examined the effects of ASPD and sex on discounting in pathological gamblers. Results revealed effects of ASPD, and an interaction between ASPD and sex, on probability discounting rates. None of these variables, however, were related to delay discounting. Females with ASPD highly preferred probabilistic outcomes, suggesting that female gamblers with ASPD are particularly impulsive when it comes to probabilistic rewards. Greater understanding of sex differences in ASPD might help guide the selection of more effective sex-specific prevention and treatment programs.

Delay and probability discounting among payday and title loan recipients.

Science.gov (United States)

Mahoney, Colin T; Lawyer, Steven R

2016-04-01

Payday and title loans are short-term loans associated with significant economic impact. Behavioral theories of impulsive choice may provide insight into behavioral processes that underlie the propensity to take out payday and title loans. Adults between the ages of 18 and 30 recruited from the community completed delay and probability discounting tasks for hypothetical money as well as measures of substance use. Patterns of discounting were characterized using a hyperbolic decay model and area under the curve. Participants who took out a payday and/or title loan in the past (n=41) exhibited more impulsive choice patterns on the delay discounting task than did those who did not (n=255). Substance use mediated this relationship between payday and title loan retention and delay discounting. These findings suggest potentially important relationships between payday/title loan borrowing, substance use, and delay discounting. Copyright © 2016 Elsevier B.V. All rights reserved.

78 FR 67393 - Change in Discount Rate for Water Resources Planning

Science.gov (United States)

2013-11-12

... Discount Rate for Water Resources Planning AGENCY: Bureau of Reclamation, Interior. ACTION: Notice of change. SUMMARY: The Water Resources Planning Act of 1965 and the Water Resources Development Act of 1974 require an annual determination of a discount rate for Federal water resources planning. The discount rate...

Decision processes in choice overload: a product of delay and probability discounting?

Science.gov (United States)

Kaplan, Brent A; Reed, Derek D

2013-07-01

Recent research in the behavioral decision making literature has demonstrated that humans hyperbolically discount the subjective value of options as the number of options increases (Reed et al., 2012). These findings provide a cognitive-behavioral synthesis of the "choice overload" phenomenon, also known as the "paradox of choice." Specifically, these findings suggest that temporal discounting may serve as the underlying process contributing to this effect. As an extension, this study examined the effects of reward magnitude sizes had on rates temporal and options discounting. This manipulation was conducted to determine what role temporal discounting plays in discounting of options. The present results suggest that temporal discounting may not be the only process contributing to the choice overload effect. Copyright © 2013 Elsevier B.V. All rights reserved.

A discount strategy in word-of-mouth marketing and its assessment

OpenAIRE

Zhang, Tianrui; Yang, Xiaofan; Yang, Lu-Xing; Tang, Yuan Yan; Wu, Yingbo

2017-01-01

This paper addresses the discount pricing in word-of-mouth (WOM) marketing. A new discount strategy known as the Infection-Based Discount (IBD) strategy is proposed. The basic idea of the IBD strategy lies in that each customer enjoys a discount that is linearly proportional to his/her influence in the WOM network. To evaluate the performance of the IBD strategy, the WOM spreading process is modeled as a dynamic model known as the DPA model, and the performance of the IBD strategy is modeled ...

Temporal discounting rates and their relation to exercise behavior in older adults.

Science.gov (United States)

Tate, Linda M; Tsai, Pao-Feng; Landes, Reid D; Rettiganti, Mallikarjuna; Lefler, Leanne L

2015-12-01

As our nation's population ages, the rates of chronic illness and disability are expected to increase significantly. Despite the knowledge that exercise may prevent chronic disease and promote health among older adults, many still are inactive. Factors related to exercise behaviors have been explored in recent years. However, temporal discounting is a motivational concept that has not been explored in regard to exercise in older adults. Temporal discounting is a decision making process by which an individual chooses a smaller more immediate reward over a larger delayed reward. The aim of this study was to determine if temporal discounting rates vary between exercising and non-exercising older adults. This study used cross-sectional survey of 137 older adults living in the community. Older adults were recruited from 11 rural Arkansas churches. The Kirby delay-discounting Monetary Choice Questionnaire was used to collect discounting rates and then bivariate analysis was performed to compare temporal discounting rate between the exercisers and non-exercisers. Finally, multivariate analysis was used to compare discounting rate controlling for other covariates. The results indicated that exercising older adults display lower temporal discounting rates than non-exercising older adults. After controlling for education, exercisers still have lower temporal discounting rates than non-exercisers (phealth conditions relate to lack of exercise especially in older adults. This research suggests that if we can find appropriate incentives for discounting individuals, some type of immediate reward, then potentially we can design programs to engage and retain older adults in exercise. Copyright © 2015 Elsevier Inc. All rights reserved.

Flat solar collector an approach to its evaluation

Energy Technology Data Exchange (ETDEWEB)

Sonino, T [Israel Atomic Energy Commission, Yavne. Soreq Nuclear Research Center

1977-01-01

The flat solar collector is the most widely used device for the utilization of solar energy, but its energetic and economic values are still debated. A preliminary energy and economic analysis is presented. The energy analysis indicates that the energy needed to produce one solar collector is equivalent to the electricity consumed by an electric water heater in roughly three months. The economic analysis indicates that the pay-back time for a solar collector varies from 5.5 to 7.7 yr. according to the discount rate. The economic analysis from a national point of view indicates that the use of solar collectors for domestic purposes could only reduce electricity consumption in Israel by 10%.

Combined cycle solar central receiver hybrid power system study. Volume III. Appendices. Final technical report

Energy Technology Data Exchange (ETDEWEB)

None

1979-11-01

A design study for a 100 MW gas turbine/steam turbine combined cycle solar/fossil-fuel hybrid power plant is presented. This volume contains the appendices: (a) preconceptual design data; (b) market potential analysis methodology; (c) parametric analysis methodology; (d) EPGS systems description; (e) commercial-scale solar hybrid power system assessment; and (f) conceptual design data lists. (WHK)

Maximizing the Spread of Influence via Generalized Degree Discount.

Science.gov (United States)

Wang, Xiaojie; Zhang, Xue; Zhao, Chengli; Yi, Dongyun

2016-01-01

It is a crucial and fundamental issue to identify a small subset of influential spreaders that can control the spreading process in networks. In previous studies, a degree-based heuristic called DegreeDiscount has been shown to effectively identify multiple influential spreaders and has severed as a benchmark method. However, the basic assumption of DegreeDiscount is not adequate, because it treats all the nodes equally without any differences. To consider a general situation in real world networks, a novel heuristic method named GeneralizedDegreeDiscount is proposed in this paper as an effective extension of original method. In our method, the status of a node is defined as a probability of not being influenced by any of its neighbors, and an index generalized discounted degree of one node is presented to measure the expected number of nodes it can influence. Then the spreaders are selected sequentially upon its generalized discounted degree in current network. Empirical experiments are conducted on four real networks, and the results show that the spreaders identified by our approach are more influential than several benchmark methods. Finally, we analyze the relationship between our method and three common degree-based methods.

Where do we stand on discounts? - A Danish perspective

DEFF Research Database (Denmark)

Bergqvist, Christian

The dominant undertaking’s ability to award discounts and other loyalty inducing considerations are subject to much ambiguity and many unsettled issues. Despite discounts being a commercial requirement, even for the dominant undertaking, it’s difficult to draw up clear principles, and while...... the approach to non-dominant undertaking’s restriction of competition has been fundamentally recast over the last 20 years, the appraisal of single company behaviour remains more formal and rigid. However, there have recently been indications that some of the same leniency might have been extended to discounts...

Where Do We Stand on Discounts? - A Nordic Perspective

DEFF Research Database (Denmark)

Bastida, Vladimir; Ballebye Okholm, Henrik; Pedersen, Torben

Dominant undertakings’ ability, under competition law, to award discounts and other loyalty inducing considerations are subject to much ambiguity and unsettled issues. Despite discounts being a commercial requirement, even for the dominant undertaking, it is difficult to draw up clear principles....... to dis-counts and unilateral behaviour and in particular the 2017 Court of Justice rul-ing in Intel has reopened the discussions. The objective of this book is to pro-vide guidance on the matter under EU and Nordic competition law and to align these with economic theory....

Internet Addiction and Delay Discounting in College Students

Science.gov (United States)

Saville, Bryan K.; Gisbert, Amanda; Kopp, Jason; Telesco, Carolyn

2010-01-01

To examine the relation between Internet addiction and delay discounting, we gave 276 college students a survey designed to measure Internet addiction and a paper-based delay-discounting task. In our larger sample, we identified 14 students who met the criteria for Internet addiction; we also identified 14 matched controls who were similar to the…

Dynamic optimization approach for integrated supplier selection and tracking control of single product inventory system with product discount

Science.gov (United States)

Sutrisno; Widowati; Heru Tjahjana, R.

2017-01-01

In this paper, we propose a mathematical model in the form of dynamic/multi-stage optimization to solve an integrated supplier selection problem and tracking control problem of single product inventory system with product discount. The product discount will be stated as a piece-wise linear function. We use dynamic programming to solve this proposed optimization to determine the optimal supplier and the optimal product volume that will be purchased from the optimal supplier for each time period so that the inventory level tracks a reference trajectory given by decision maker with minimal total cost. We give a numerical experiment to evaluate the proposed model. From the result, the optimal supplier was determined for each time period and the inventory level follows the given reference well.

Solar technology assessment project. Volume 6: Photovoltaic technology assessment

Science.gov (United States)

Backus, C. E.

1981-04-01

Industrial production of photovoltaic systems and volume of sales are reviewed. Low cost silicon production techniques are reviewed, including the Czochralski process, heat exchange method, edge defined film fed growth, dentritic web growth, and silicon on ceramic process. Semicrystalline silicon, amorphous silicon, and low cost poly-silicon are discussed as well as advanced materials and concentrator systems. Balance of system components beyond those needed to manufacture the solar panels are included. Nontechnical factors are assessed. The 1986 system cost goals are briefly reviewed.

TD Waterhouse discount brokerage: a competitive strategy

OpenAIRE

Dangerfield, Catherine

2007-01-01

This paper provides a strategic analysis of TD Waterhouse (TDW), the discount brokerage provider within TD Bank Financial Group (TDBFG). Discount brokerage in Canada is an increasingly lucrative industry and contributes significantly to the bottom lines of every major financial institution in the country. It is also a rapidly changing and intensely price-competitive industry in which an explicit, educated business strategy is of the utmost importance. TDW currently employs a somewhat ambiguou...

Zero discounting can compensate future generations for climate damage

NARCIS (Netherlands)

Davidson, M.D.

2014-01-01

In cost-benefit analysis of climate policy there are two main approaches to discounting, each with implications conflicting with our moral intuitions. Thus, discounted utilitarianism implies that we hardly need to protect future generations against climate change, while classical utilitarianism

Trading Later Rewards for Current Pleasure: Pornography Consumption and Delay Discounting.

Science.gov (United States)

Negash, Sesen; Sheppard, Nicole Van Ness; Lambert, Nathaniel M; Fincham, Frank D

2016-01-01

Internet pornography is a multi-billion-dollar industry that has grown increasingly accessible. Delay discounting involves devaluing larger, later rewards in favor of smaller, more immediate rewards. The constant novelty and primacy of sexual stimuli as particularly strong natural rewards make Internet pornography a unique activator of the brain's reward system, thereby having implications for decision-making processes. Based on theoretical studies of evolutionary psychology and neuroeconomics, two studies tested the hypothesis that consuming Internet pornography would relate to higher rates of delay discounting. Study 1 used a longitudinal design. Participants completed a pornography use questionnaire and a delay discounting task at Time 1 and then again four weeks later. Participants reporting higher initial pornography use demonstrated a higher delay discounting rate at Time 2, controlling for initial delay discounting. Study 2 tested for causality with an experimental design. Participants were randomly assigned to abstain from either their favorite food or pornography for three weeks. Participants who abstained from pornography use demonstrated lower delay discounting than participants who abstained from their favorite food. The finding suggests that Internet pornography is a sexual reward that contributes to delay discounting differently than other natural rewards. Theoretical and clinical implications of these studies are highlighted.

Renewable Resources: a national catalog of model projects. Volume 3. Southern Solar Energy Center Region

Energy Technology Data Exchange (ETDEWEB)

None

1980-07-01

This compilation of diverse conservation and renewable energy projects across the United States was prepared through the enthusiastic participation of solar and alternate energy groups from every state and region. Compiled and edited by the Center for Renewable Resources, these projects reflect many levels of innovation and technical expertise. In many cases, a critique analysis is presented of how projects performed and of the institutional conditions associated with their success or failure. Some 2000 projects are included in this compilation; most have worked, some have not. Information about all is presented to aid learning from these experiences. The four volumes in this set are arranged in state sections by geographic region, coinciding with the four Regional Solar Energy Centers. The table of contents is organized by project category so that maximum cross-referencing may be obtained. This volume includes information on the Southern Solar Energy Center Region. (WHK)

Renewable Resources: a national catalog of model projects. Volume 1. Northeast Solar Energy Center Region

Energy Technology Data Exchange (ETDEWEB)

None

1980-07-01

This compilation of diverse conservation and renewable energy projects across the United States was prepared through the enthusiastic participation of solar and alternate energy groups from every state and region. Compiled and edited by the Center for Renewable Resources, these projects reflect many levels of innovation and technical expertise. In many cases, a critique analysis is presented of how projects performed and of the institutional conditions associated with their success or failure. Some 2000 projects are included in this compilation; most have worked, some have not. Information about all is presented to aid learning from these experiences. The four volumes in this set are arranged in state sections by geographic region, coinciding with the four Regional Solar Energy Centers. The table of contents is organized by project category so that maximum cross-referencing may be obtained. This volume includes information on the Northeast Solar Energy Center Region. (WHK).

Renewable Resources: a national catalog of model projects. Volume 4. Western Solar Utilization Network Region

Energy Technology Data Exchange (ETDEWEB)

None

1980-07-01

This compilation of diverse conservation and renewable energy projects across the United States was prepared through the enthusiastic participation of solar and alternate energy groups from every state and region. Compiled and edited by the Center for Renewable Resources, these projects reflect many levels of innovation and technical expertise. In many cases, a critique analysis is presented of how projects performed and of the institutional conditions associated with their success or failure. Some 2000 projects are included in this compilation; most have worked, some have not. Information about all is presented to aid learning from these experiences. The four volumes in this set are arranged in state sections by geographic region, coinciding with the four Regional Solar Energy Centers. The table of contents is organized by project category so that maximum cross-referencing may be obtained. This volume includes information on the Western Solar Utilization Network Region. (WHK)

S/EV 92 (Solar and Electric Vehicles): Proceedings. Volume 1

Energy Technology Data Exchange (ETDEWEB)

1992-12-01

Volume I of these proceedings presents current research on solar and electric powered vehicles. Both fundamental and advanced concepts concerning electric vehicles are presented. The use of photovoltaic cells in electric vehicles and in a broader sense as a means of power generation are discussed. Information on electric powered fleets and races is included. And policy and regulations, especially pertaining to air quality and air pollution abatement are presented.

Temporal discounting in life cycle assessment: A critical review and theoretical framework

International Nuclear Information System (INIS)

Yuan, Chris; Wang, Endong; Zhai, Qiang; Yang, Fan

2015-01-01

Temporal homogeneity of inventory data is one of the major problems in life cycle assessment (LCA). Addressing temporal homogeneity of life cycle inventory data is important in reducing the uncertainties and improving the reliability of LCA results. This paper attempts to present a critical review and discussion on the fundamental issues of temporal homogeneity in conventional LCA and propose a theoretical framework for temporal discounting in LCA. Theoretical perspectives for temporal discounting in life cycle inventory analysis are discussed first based on the key elements of a scientific mechanism for temporal discounting. Then generic procedures for performing temporal discounting in LCA is derived and proposed based on the nature of the LCA method and the identified key elements of a scientific temporal discounting method. A five-step framework is proposed and reported in details based on the technical methods and procedures needed to perform a temporal discounting in life cycle inventory analysis. Challenges and possible solutions are also identified and discussed for the technical procedure and scientific accomplishment of each step within the framework. - Highlights: • A critical review for temporal homogeneity problem of life cycle inventory data • A theoretical framework for performing temporal discounting on inventory data • Methods provided to accomplish each step of the temporal discounting framework

Low Discounting Behavior among Small-Scale Fishers in Fiji and Sabah, Malaysia

Directory of Open Access Journals (Sweden)

Louise S. L. Teh

2011-06-01

Full Text Available Understanding the socio-economic factors that are associated with fishers’ willingness to delay gratification may be useful for designing appropriate fisheries management and conservation policies. We aim to identify the predictors of low discounting behaviour among fishers, which is analogous to having a longer-term outlook. We base our empirical study on two small-scale tropical reef fisheries in Sabah, Malaysia, and Fiji. We use an experimental approach to identify fishers with low discount rates, and then use a logistic regression model to identify predictors of low discount rates. We find that 42% of the respondents have low discount rates, and that site and village level variables are significant predictors of low discount rates. Within Sabah and Fiji, boat ownership and relative catch differentiate low discounting from non-low discounting fishers, but these variables have contradictory effects in Sabah and Fiji. Overall, our results imply that a substantial proportion of reef fishers may be willing to engage in conservation initiatives; however, local socio-cultural, economic, and ecological conditions have to be considered first during the process of designing management interventions.

Shedding light on solar technologies-A techno-economic assessment and its policy implications

International Nuclear Information System (INIS)

Peters, Michael; Schmidt, Tobias S.; Wiederkehr, David; Schneider, Malte

2011-01-01

Solar power technologies will have to become a major pillar in the world's future energy system to combat climate change and resource depletion. However, it is unclear which solar technology is and will prove most viable. Therefore, a comprehensive comparative assessment of solar technologies along the key quantitative and qualitative competitiveness criteria is needed. Based on a literature review and detailed techno-economic modeling for 2010 and 2020 in five locations, we provide such an assessment for the three currently leading large-scale solar technologies. We show that today these technologies cannot yet compete with conventional forms of power generation but approach competitiveness around 2020 in favorable locations. Furthermore, from a global perspective we find that none of the solar technologies emerges as a clear winner and that cost of storing energy differs by technology and can change the order of competitiveness in some instances. Importantly, the competitiveness of the different technologies varies considerably across locations due to differences in, e.g., solar resource and discount rates. Based on this analysis, we discuss policy implications with regard to fostering the diffusion of solar technologies while increasing the efficiency of policy support through an adequate geographical allocation of solar technologies. - Highlights: → We conduct a comprehensive comparative assessment of solar technologies (CSP/PV). → While solar technologies approach competitiveness in 2020, no clear winner emerges. → Solar resource and discount rate heavily impact competitiveness of solar technologies. → Adequate geographical allocation of solar technologies increases policy efficiency. → Focus on key cost down levers and strategic co-benefits of solar technologies needed.

Association of cognition with temporal discounting in community based older persons

Directory of Open Access Journals (Sweden)

Boyle Patricia A

2012-08-01

Full Text Available Abstract Background The objective of this study was to test the hypothesis that cognitive function is negatively associated with temporal discounting in old age. Methods Participants were 388 community-dwelling older persons without dementia from the Rush Memory and Aging Project, an ongoing longitudinal epidemiologic study of aging in the Chicago metropolitan area. Temporal discounting was measured using standard questions in which participants were asked to choose between an immediate, smaller payment and a delayed, larger one. Cognition was measured using a detailed battery including 19 tests. The association between cognition and temporal discounting was examined via mixed models adjusted for age, sex, education, income, and the number of chronic medical conditions. Results Descriptive data revealed a consistent pattern whereby older persons with lower cognitive function were more likely to discount greater but delayed rewards compared to those with higher cognitive function. Further, in a mixed effect model adjusted for age, sex, education, income, and chronic medical conditions, global cognitive function was negatively associated with temporal discounting (estimate = −0.45, SE = 0.18, p = 0.015, such that a person with lower cognition exhibited greater discounting. Finally, in subsequent models examining domain specific associations, perceptual speed and visuospatial abilities were associated with temporal discounting, but episodic memory, semantic memory and working memory were not. Conclusion Among older persons without dementia, a lower level of cognitive function is associated with greater temporal discounting. These findings have implications regarding the ability of older persons to make decisions that involve delayed rewards but maximize well-being.

Comorbid depression, antisocial personality, and substance dependence: Relationship with delay discounting.

Science.gov (United States)

Moody, Lara; Franck, Christopher; Bickel, Warren K

2016-03-01

Within the field of addiction, as many as four-fifths of individuals in treatment for substance use disorder have co-existing lifetime psychopathology and as high as two-thirds have current psychopathology. Among substance-dependent individuals, excessive delay discounting is pervasive. Despite evidence of excessive discounting across substance use disorders, few studies have investigated the impact of co-occurring psychopathologies and SUD on delay discounting. We compared delay discounting in currently abstaining substance users with (a) SUD (n=166), (b) SUD and managed major depressive disorder (MDD; n=44), (c) SUD and antisocial personality disorder (APD; n=35), (d) SUD and managed MDD and APD (n=22) and (e) no SUD or co-occurring psychopathology (n=60). All groups with SUD discounted future delayed rewards significantly more than healthy controls (p<0.001 in each case, d=0.686, 0.835, 1.098 and 1.650, respective to groups a-d above). Individuals with both APD and SUD and individuals with MDD, APD, and SUD discounted future rewards significantly more than substance users without comorbid psychopathology (p=0.029, d=0.412 and p<0.001, d=0.964, respectively). Overall, individuals with multiple psychopathologies in addition to substance use have exacerbated deficits in discounting of the future, above and beyond that observed in substance use alone. Increased discounting in combined substance and psychopathology profiles suggest a greater chance of treatment failure and therefore may necessitate individualized treatment using adjunctive interventions to achieve better treatment outcomes. Copyright © 2016 Elsevier Ireland Ltd. All rights reserved.

Discounting Models for Outcomes over Continuous Time

DEFF Research Database (Denmark)

Harvey, Charles M.; Østerdal, Lars Peter

Events that occur over a period of time can be described either as sequences of outcomes at discrete times or as functions of outcomes in an interval of time. This paper presents discounting models for events of the latter type. Conditions on preferences are shown to be satisfied if and only if t...... if the preferences are represented by a function that is an integral of a discounting function times a scale defined on outcomes at instants of time....

Examining weight concern and delay discounting in adolescent females.

Science.gov (United States)

Thamotharan, Sneha; Lange, Krista; Ramos, Ashley; Fields, Sherecce

2016-04-01

Pediatric obesity is a growing public health concern that contributes to high rates of negative long-term physical and mental health outcomes. Research focused on identifying risk for pediatric obesity has linked delay discounting, or an inclination for immediate rewards, as well as weight concern to individuals with greater Body Mass Index (BMI). The current study seeks to fill a void in the literature by examining how these two variables interact to promote higher BMI in female adolescents. Adolescent (n=60) females between the ages of 13-19years (mage=17.45, SD=1.74) of age completed the Eating Disorder Examination Questionnaire (EDE-Q) and the Delay Discounting Questionnaire. A mediation model examined whether delay discounting accounted for the relationship between weight concern and BMI. Results indicate that in the current study weight concern was negatively related to delay discounting and delay discounting was negatively related to BMI. The overall model revealed that a partial mediation occurred [b=1.28, t(60)=4.92, pconcerns contribute to greater BMI. Nevertheless, the results indicate that prevention and interventions should identify females with high levels of both weight concern and impulsivity as an increased risk for experiencing pediatric obesity and long-term negative health outcomes. Copyright © 2016 Elsevier Ltd. All rights reserved.

OPPORTUNITY COSTS OF REWARD DELAYS AND THE DISCOUNTING OF HYPOTHETICAL MONEY AND CIGARETTES

Science.gov (United States)

Johnson, Patrick S.; Herrmann, Evan S.; Johnson, Matthew W.

2015-01-01

Humans are reported to discount delayed rewards at lower rates than nonhumans. However, nonhumans are studied in tasks that restrict reinforcement during delays, whereas humans are typically studied in tasks that do not restrict reinforcement during delays. In nonhuman tasks, the opportunity cost of restricted reinforcement during delays may increase delay discounting rates. The present within-subjects study used online crowdsourcing (Amazon Mechanical Turk, or MTurk) to assess the discounting of hypothetical delayed money (and cigarettes in smokers) under four hypothetical framing conditions differing in the availability of reinforcement during delays. At one extreme, participants were free to leave their computer without returning, and engage in any behavior during reward delays (modeling typical human tasks). At the opposite extreme, participants were required to stay at their computer and engage in little other behavior during reward delays (modeling typical nonhuman tasks). Discounting rates increased as an orderly function of opportunity cost. Results also indicated predominantly hyperbolic discounting, the “magnitude effect,” steeper discounting of cigarettes than money, and positive correlations between discounting rates of these commodities. This is the first study to test the effects of opportunity costs on discounting, and suggests that procedural differences may partially account for observed species differences in discounting. PMID:25388973

On the Relation between Discounting of Climate Change and Edgeworth-Pareto Substitutability

NARCIS (Netherlands)

Kögel, M.T.

2009-01-01

To justify substantial carbon emission reductions, recent literature on cost-benefit analysis of climate change suggests discounting environmental quality at a lower discount rate than the standard consumption discount rate. Recent literature also shows that a theoretical foundation for such a lower

Tariff-Mediated Network Effects versus Strategic Discounting: Evidence from German Mobile Telecommunications

OpenAIRE

Zucchini, Leon; Claussen, Jörg; Trüg, Moritz

2013-01-01

Mobile telecommunication operators routinely charge subscribers lower prices for calls on their own network than for calls to other networks (on-net discounts). Studies on tariff-mediated network effects suggest this is due to large operators using on-net discounts to damage smaller rivals. Alternatively, research on strategic discounting suggests small operators use on-net discounts to advertise with low on-net prices. We test the relative strength of these effects using data on tariff setti...

Grid-connected distributed solar power systems

Science.gov (United States)

Moyle, R.; Chernoff, H.; Schweizer, T.

This paper discusses some important, though often ignored, technical and economic issues of distributed solar power systems: protection of the utility system and nonsolar customers requires suitable interfaced equipment. Purchase criteria must mirror reality; most analyses use life-cycle costing with low discount rates - most buyers use short payback periods. Distributing, installing, and marketing small, distributed solar systems is more costly than most analyses estimate. Results show that certain local conditions and uncommon purchase considerations can combine to make small, distributed solar power attractive, but lower interconnect costs (per kW), lower marketing and product distribution costs, and more favorable purchase criteria make large, centralized solar energy more attractive. Specifically, the value of dispersed solar systems to investors and utilities can be higher than $2000/kw. However, typical residential owners place a value of well under $1000 on the installed system.

Cross-cultural comparisons of delay discounting of gain and loss.

Science.gov (United States)

Ishii, Keiko; Gang, Lili; Takahashi, Taiki

2016-11-01

People generally tend to discount future outcomes in favor of smaller but immediate gains (i.e., delay discounting). The present research examined cultural similarities and differences in delay discounting of gain and loss between Chinese and Japanese, based on a q-exponential model of intertemporal choice. Using a hypothetical situation, we asked 65 Japanese participants and 51 Chinese participants to choose between receiving (or paying) a different amount of money immediately or with a specified delay (1 week, 2 weeks, 1 month, 6 months, 1 year, 5 years, and 25 years). For each delay, participants completed a series of 40 binary choices for gain or loss. Regardless of cultures, the q-exponential model was the optimal model. Both impulsivity and time-inconsistency were higher for future gains than for future losses. In addition to the cultural similarities, Chinese participants discounted future gains and losses more steeply than did Japanese. In contrast, Japanese participants were more time-inconsistent in delay discounting than were Chinese, suggesting that the reduction in their subjective value depended relatively on delay.

An Adjusted Discount Rate Model for Fuel Cycle Cost Estimation

Energy Technology Data Exchange (ETDEWEB)

Kim, S. K.; Kang, G. B.; Ko, W. I. [Korea Atomic Energy Research Institute, Daejeon (Korea, Republic of)

2013-10-15

Owing to the diverse nuclear fuel cycle options available, including direct disposal, it is necessary to select the optimum nuclear fuel cycles in consideration of the political and social environments as well as the technical stability and economic efficiency of each country. Economic efficiency is therefore one of the significant evaluation standards. In particular, because nuclear fuel cycle cost may vary in each country, and the estimated cost usually prevails over the real cost, when evaluating the economic efficiency, any existing uncertainty needs to be removed when possible to produce reliable cost information. Many countries still do not have reprocessing facilities, and no globally commercialized HLW (High-level waste) repository is available. A nuclear fuel cycle cost estimation model is therefore inevitably subject to uncertainty. This paper analyzes the uncertainty arising out of a nuclear fuel cycle cost evaluation from the viewpoint of a cost estimation model. Compared to the same discount rate model, the nuclear fuel cycle cost of a different discount rate model is reduced because the generation quantity as denominator in Equation has been discounted. Namely, if the discount rate reduces in the back-end process of the nuclear fuel cycle, the nuclear fuel cycle cost is also reduced. Further, it was found that the cost of the same discount rate model is overestimated compared with the different discount rate model as a whole.

An Adjusted Discount Rate Model for Fuel Cycle Cost Estimation

International Nuclear Information System (INIS)

Kim, S. K.; Kang, G. B.; Ko, W. I.

2013-01-01

Owing to the diverse nuclear fuel cycle options available, including direct disposal, it is necessary to select the optimum nuclear fuel cycles in consideration of the political and social environments as well as the technical stability and economic efficiency of each country. Economic efficiency is therefore one of the significant evaluation standards. In particular, because nuclear fuel cycle cost may vary in each country, and the estimated cost usually prevails over the real cost, when evaluating the economic efficiency, any existing uncertainty needs to be removed when possible to produce reliable cost information. Many countries still do not have reprocessing facilities, and no globally commercialized HLW (High-level waste) repository is available. A nuclear fuel cycle cost estimation model is therefore inevitably subject to uncertainty. This paper analyzes the uncertainty arising out of a nuclear fuel cycle cost evaluation from the viewpoint of a cost estimation model. Compared to the same discount rate model, the nuclear fuel cycle cost of a different discount rate model is reduced because the generation quantity as denominator in Equation has been discounted. Namely, if the discount rate reduces in the back-end process of the nuclear fuel cycle, the nuclear fuel cycle cost is also reduced. Further, it was found that the cost of the same discount rate model is overestimated compared with the different discount rate model as a whole

Delayed discounting of pain with and without monetary reward

Directory of Open Access Journals (Sweden)

Kicman Paweł

2017-12-01

Full Text Available We investigated the effect of monetary rewards on the rate of pain discounting. Our aim, also, was to understand the effect of previous painful dental experiences on the rate of discounting pain. Two groups (N = 148 completed a discounting task. In the first group, delayed pain was weaker than immediate pain, and in the second group delayed pain was stronger than immediate pain. Two conditions were studied: pain was either accompanied by a monetary reward or not. We found that people preferred immediate pain when it was weaker than delayed pain; however, when delayed pain was stronger than immediate pain, there was no clear preference. In both groups the preference for immediate pain was higher when pain was accompanied by a monetary reward. Previous painful experiences were not related to the rate of discounting. It was concluded that the preference for delayed pain depends on the intensity of pain, and it can be modified by rewards that accompany pain.

Special discount to the members of the Staff Association

CERN Multimedia

Association du personnel

2012-01-01

FNAC 5% discount on gifts card available in four Swiss shops without any restriction. Gifts card on sale to the Staff Association Secretariat. TPG 50 CHF discount on annual subscriptions. Subscription « tout Genève » for adult: 650 CHF; for junior: 400 CHF. On sale to the Staff Association Secretariat. Théâtre de Carouge Discount of 5.-CHF for all shows (30.– CHF instead of 35.-CHF) and on season tickets « first performance » ( 132.– CHF instead 162.– CHF) and also on « classical » ( 150.– CHF instead of 180.– CHF) upon presentation of your Staff Association membership card before payment. Aquaparc Discounted prices on admission of whole day. Children from 5 to 15 years: 30.-CHF instead of 39.-CHF; Adults from 16 years: 36.-CHF instead of 49.-CHF. Tickets on sale to the Staff Association Secretariat. Go Sport 15% off on all purchases in the whole shop upon present...

Optimal harvesting of fish stocks under a time-varying discount rate.

Science.gov (United States)

Duncan, Stephen; Hepburn, Cameron; Papachristodoulou, Antonis

2011-01-21

Optimal control theory has been extensively used to determine the optimal harvesting policy for renewable resources such as fish stocks. In such optimisations, it is common to maximise the discounted utility of harvesting over time, employing a constant time discount rate. However, evidence from human and animal behaviour suggests that we have evolved to employ discount rates which fall over time, often referred to as "hyperbolic discounting". This increases the weight on benefits in the distant future, which may appear to provide greater protection of resources for future generations, but also creates challenges of time-inconsistent plans. This paper examines harvesting plans when the discount rate declines over time. With a declining discount rate, the planner reduces stock levels in the early stages (when the discount rate is high) and intends to compensate by allowing the stock level to recover later (when the discount rate will be lower). Such a plan may be feasible and optimal, provided that the planner remains committed throughout. However, in practice there is a danger that such plans will be re-optimized and adjusted in the future. It is shown that repeatedly restarting the optimization can drive the stock level down to the point where the optimal policy is to harvest the stock to extinction. In short, a key contribution of this paper is to identify the surprising severity of the consequences flowing from incorporating a rather trivial, and widely prevalent, "non-rational" aspect of human behaviour into renewable resource management models. These ideas are related to the collapse of the Peruvian anchovy fishery in the 1970's. Copyright © 2010 Elsevier Ltd. All rights reserved.

Psychosocial Influences on Fruit and Vegetable Intake Following a NYC Supermarket Discount.

Science.gov (United States)

Bernales-Korins, Maria; Ang, Ian Yi Han; Khan, Shamima; Geliebter, Allan

2017-08-01

To assess the effect of a 50% discount on fruits and vegetables (F&V) on the purchase and intake of F&V and on psychosocial determinants of F&V intake: self-efficacy (SE), stages of change (SOC), and perceived barriers (PB). This randomized controlled trial was conducted in local supermarkets over 16 weeks, including a 4-week baseline, 8-week discount intervention, and 4-week follow-up. Shoppers with overweight or obesity (BMI > 25) were randomized to receive a discount or no discount via their reward scan card after the baseline. Twenty-four-hour recalls and psychosocial measures were obtained for each study period. Purchases (P supermarket discount intervention led to increases in purchases and intakes of F&V and increases in the psychosocial factors SE and SOC and did not decrease PB. The discount intervention prompted participants to move from the preparation to action stage of SOC, which acted as a mediator for increased F&V intake. © 2017 The Obesity Society.

Benchmarking Discount Rate in Natural Resource Damage Assessment with Risk Aversion.

Science.gov (United States)

Wu, Desheng; Chen, Shuzhen

2017-08-01

Benchmarking a credible discount rate is of crucial importance in natural resource damage assessment (NRDA) and restoration evaluation. This article integrates a holistic framework of NRDA with prevailing low discount rate theory, and proposes a discount rate benchmarking decision support system based on service-specific risk aversion. The proposed approach has the flexibility of choosing appropriate discount rates for gauging long-term services, as opposed to decisions based simply on duration. It improves injury identification in NRDA since potential damages and side-effects to ecosystem services are revealed within the service-specific framework. A real embankment case study demonstrates valid implementation of the method. © 2017 Society for Risk Analysis.

Neural congruence between intertemporal and interpersonal self-control: Evidence from delay and social discounting.

Science.gov (United States)

Hill, Paul F; Yi, Richard; Spreng, R Nathan; Diana, Rachel A

2017-11-15

Behavioral studies using delay and social discounting as indices of self-control and altruism, respectively, have revealed functional similarities between farsighted and social decisions. However, neural evidence for this functional link is lacking. Twenty-five young adults completed a delay and social discounting task during fMRI scanning. A spatiotemporal partial least squares analysis revealed that both forms of discounting were well characterized by a pattern of brain activity in areas comprising frontoparietal control, default, and mesolimbic reward networks. Both forms of discounting appear to draw on common neurocognitive mechanisms, regardless of whether choices involve intertemporal or interpersonal outcomes. We also observed neural profiles differentiating between high and low discounters. High discounters were well characterized by increased medial temporal lobe and limbic activity. In contrast, low discount rates were associated with activity in the medial prefrontal cortex and right temporoparietal junction. This pattern may reflect biological mechanisms underlying behavioral heterogeneity in discount rates. Copyright © 2017 Elsevier Inc. All rights reserved.

Long-term impacts of mega-projects: the discount rate

NARCIS (Netherlands)

Koopmans, C.; Rietveld, P.; Priemus, H.; van Wee, B.

2013-01-01

In social cost-benefit analysis (SCBA), discount rates are used to convert costs and benefits that occur at different points in time, to present values that can be added and subtracted. Especially if important costs and benefits occur in the long term (more than say 30 years), the discount rate may

Discounting in the evaluation of the cost-effectiveness of a vaccination programme: A critical review.

Science.gov (United States)

Jit, Mark; Mibei, Walter

2015-07-31

Discounting future costs and health benefits usually has a large effect on results of cost-effectiveness evaluations of vaccination because of delays between the initial expenditure in the programme and the health benefits from averting disease. Most guidelines currently recommend discounting both costs and health effects at a positive, constant, common rate back to a common point in time. A review of 84 published economic evaluations of vaccines found that most of them apply these recommendations. However, both technical and normative arguments have been presented for discounting health at a different rate to consumption (differential discounting), discounting at a rate that changes over time (non-constant discounting), discounting intra-generational and inter-generational effects at a different rate (two-stage discounting), and discounting the health gains from an intervention to a different discount year from the time of intervention (delayed discounting). These considerations are particularly acute for vaccines, because their effects can occur in a different generation from the one paying for them, and because the time of vaccination, of infection aversion, and of disease aversion usually differ. Using differential, two-stage or delayed discounting in model-based cost-effectiveness evaluations of vaccination raises technical challenges, but mechanisms have been proposed to overcome them. Copyright © 2015 The Authors. Published by Elsevier Ltd.. All rights reserved.

Combining Environmental and Spatial Discount Rates for Valuation of Assets According to International Financial Reporting Standards

Directory of Open Access Journals (Sweden)

Jaunzeme Justine Sophia

2016-06-01

Full Text Available Application of discount rate in finance and accounting is founded on the concept of time value of money. Discounted cash flow model is widely used for asset valuation under the International Financial Reporting Standards (in abbreviation, IFRS. The discount rate applied in valuation models normally is the best rate of return that investors would earn alternative investments. With emergence of ecological economics as a separate branch of economics, the concept of ecological (or in other words, environmental discount rate has been elaborated. Muller (2013 in his paper ‘The Discounting Confusion: an Ecological Economics Perspective’, argues that traditional discounting can undermine long-term sustainability of the economy. In his work, Frank G. Muller considered adjusting the traditional discount rate in order to arrive at an environmental discount rate, which would help to ensure the sustainability of the economy. Hannon (2001 and Perrings (2001 in their paper ‘An Introduction to Spatial Discounting’ consider another variation of the discount rate - spatial discount rate. Spatial discount rate represents the rate at which the diffusion of environmental effects of economic activities is discounted over space. By February 2016, neither the application of environmental nor spatial discount rates under IFRS has been considered. The purpose of this paper is to analyse the implications that environmental and spatial discounting would have for the application of discounted cash flow model according to IFRS. The research methods applied are methods of economic analysis and synthesis.

Renewable Resources: a national catalog of model projects. Volume 2. Mid-American Solar Energy Complex Region

Energy Technology Data Exchange (ETDEWEB)

None

1980-07-01

This compilation of diverse conservation and renewable energy projects across the United States was prepared through the enthusiastic participation of solar and alternate energy groups from every state and region. Compiled and edited by the Center for Renewable Resources, these projects reflect many levels of innovation and technical expertise. In many cases, a critique analysis is presented of how projects performed and of the institutional conditions associated with their success or failure. Some 2000 projects are included in this compilation; most have worked, some have not. Information about all is presented to aid learning from these experiences. The four volumes in this set are arranged in state sections by geographic region, coinciding with the four Regional Solar Energy Centers. The table of contents is organized by project category so that maximum cross-referencing may be obtained. This volume includes information on the Mid-American Solar Energy Complex Region. (WHK)

Delay discounting, self-control, and substance use among adult drug court participants.

Science.gov (United States)

Jones, Craig G A; Fearnley, Helen; Panagiotopoulos, Barbara; Kemp, Richard I

2015-08-01

The current study examined the relationship between two measures of impulsiveness and the odds of substance use among a sample of participants on an Australian drug court (n=80). Participants completed a computer-based delay discounting task, a paper-based delay discounting task, and a questionnaire-based measure of self-control. The delay discounting tasks measured individual differences in the value attributed to distal outcomes, which is one aspect of impulsive behavior that has been found to be over-represented among illicit drug users. The relationship between the measures of impulsiveness and the odds of substance use was assessed by fitting longitudinal panel regression models with adjustment for informative treatment dropout. Consistent with previous research, drug court participants were found to have higher discount rates (i.e. were more impulsive) than a noncriminal population of university students (n=101). Drug court participants also discounted delayed gains more than delayed losses. Delay discounting was not significantly associated with the odds of substance use on the drug court program. There was a positive relationship between the survey-based measure of impulsivity and the mean substance use frequency. The authors conclude that impulsivity is correlated with substance use among drug court participants but not when measuring impulsivity using a delay discounting paradigm.

Does temporal discounting explain unhealthy behavior? A systematic review and reinforcement learning perspective

Science.gov (United States)

Story, Giles W.; Vlaev, Ivo; Seymour, Ben; Darzi, Ara; Dolan, Raymond J.

2014-01-01

The tendency to make unhealthy choices is hypothesized to be related to an individual's temporal discount rate, the theoretical rate at which they devalue delayed rewards. Furthermore, a particular form of temporal discounting, hyperbolic discounting, has been proposed to explain why unhealthy behavior can occur despite healthy intentions. We examine these two hypotheses in turn. We first systematically review studies which investigate whether discount rates can predict unhealthy behavior. These studies reveal that high discount rates for money (and in some instances food or drug rewards) are associated with several unhealthy behaviors and markers of health status, establishing discounting as a promising predictive measure. We secondly examine whether intention-incongruent unhealthy actions are consistent with hyperbolic discounting. We conclude that intention-incongruent actions are often triggered by environmental cues or changes in motivational state, whose effects are not parameterized by hyperbolic discounting. We propose a framework for understanding these state-based effects in terms of the interplay of two distinct reinforcement learning mechanisms: a “model-based” (or goal-directed) system and a “model-free” (or habitual) system. Under this framework, while discounting of delayed health may contribute to the initiation of unhealthy behavior, with repetition, many unhealthy behaviors become habitual; if health goals then change, habitual behavior can still arise in response to environmental cues. We propose that the burgeoning development of computational models of these processes will permit further identification of health decision-making phenotypes. PMID:24659960

Subjective discount rates in the general population and their predictive power for energy saving behavior

International Nuclear Information System (INIS)

Bruderer Enzler, Heidi; Diekmann, Andreas; Meyer, Reto

2014-01-01

Why do people sometimes refrain from saving energy even if it would pay off in monetary terms? Subjective discount rates present one possible explanation for this lack of foresight, but little is known about their level and reliability in the general population. With regard to behavior, persons with lower discount rates are expected to accept additional costs upfront more readily than those with higher discount rates. Based on a representative nation-wide study, the Swiss Environmental Survey 2007, and a follow-up survey, our analyses reveal that on average subjective discount rates are well above market interest rates and moderately stable over a time interval of four years. Income and education are negatively correlated with discount rates. Contrary to expectations, we did not find convincing support for an impact of discount rates on energy saving behavior. - Highlights: • Results of a large panel study in Switzerland. • Mean subjective discount rates in population are well above market interest rates. • Subjective discount rates are moderately stable over four years. • Theory suggests impact of subjective discount rates on energy saving behavior. • However, subjective discount rates do not contribute to explanation of energy saving behavior

Discount factor in planning decision of electric sector

International Nuclear Information System (INIS)

Becker, J.L.; Maurer, L.T.A.

1990-01-01

Researchers and technicians have been giving a lot of attention to the issue of discount factor in planning in the electric sector. In this paper we review the most important points under consideration, attempting to broaden the discussion and stimulate the creativity of the technicians involved with the sector. There appears to be an emerging consensus that the discount factor to be used must consider the capital costs associated with the main financial sources utilized. The traditional factor of 10% per year must be re-evaluated and augmented, in order to best reflect long range economical and financial conditions. The paper emphasizes the importance of the discount factor to several decisions made within the sector, including energy conservation. Because of the relevance of the topic to Brazil future, we strongly suggest the utilization of sensitivity analysis techniques. (author)

Trends in the use and advertising of discount versus premium snuff.

Science.gov (United States)

Timberlake, David S; Pechmann, Cornelia

2013-02-01

The Conwood Company, a major producer of discount moist snuff, was awarded a $1 billion antitrust settlement in the year 2000 against its leading competitor, the U.S. Smokeless Tobacco Company. The objective of this study was to examine the trends in use and advertising of discount versus premium snuff since the Conwood settlement, a topic seldom addressed in the tobacco control literature. 2 sources of data were analyzed in 2011: (a) male snuff users from the 2002-2009 National Surveys on Drug Use and Health (N = 13,172) and (b) total advertisements of moist snuff identified from over 350 consumer magazines dated 2005-2009 (N = 861). For the survey data, demographic and tobacco-related measures were assessed as predictors of use of discount versus premium snuff in logistic regression models. For the advertising data, associations were examined between the snuff category and nicotine content, magazine youth readership, and year of magazine publication. The prevalence of discount and premium snuff use among males increased and decreased, respectively, from 2002 to 2009. Significant predictors of using discount versus premium snuff were being an adolescent, being an African-American, being a current or former smoker, living in a less populated region of the country, and using snuff frequently. Discount snuff advertising was associated with publication in magazines with a high youth readership. Discount snuff has grown in popularity among male adolescents who have been a target of advertising. The tobacco's cheap price and high nicotine content pose a public health problem because of the potential for long-term tobacco use and dependence.

Delay discounting as a function of intrinsic/extrinsic religiousness, religious fundamentalism, and regular church attendance.

Science.gov (United States)

Weatherly, Jeffrey N; Plumm, Karyn M

2012-01-01

Delay discounting occurs when the subjective value of an outcome decreases because its delivery is delayed. Previous research has suggested that the rate at which some, but not all, outcomes are discounted varies as a function of regular church attendance. In the present study, 509 participants completed measures of intrinsic religiousness, extrinsic religiousness, religious fundamentalism, and whether they regularly attended church services. They then completed a delay-discounting task involving five outcomes. Although religiousness was not a significant predictor of discounting for all outcomes, participants scoring high in intrinsic religiousness tended to display less delay discounting than participants scoring low. Likewise, participants scoring high in religious fundamentalism tended to display more delay discounting than participants scoring low. These results partially replicate previous ones in showing that the process of discounting may vary as a function of religiousness. The results also provide some direction for those interested in altering how individuals discount.

Future Discounting in Congo Basin Hunter-Gatherers Declines with Socio-Economic Transitions.

Directory of Open Access Journals (Sweden)

Gul Deniz Salali

Full Text Available Humans have a tendency to discount the future; that is we value small, short-term rewards over larger, long-term rewards. The degree of future discounting, however, changes in response to socio-ecological factors. Here, we study Mbendjele BaYaka hunter-gatherers of northern Congo and their farmer neighbours to investigate adaptations in inter-temporal preferences in humans. We argue that in immediate-return systems, where food storage is absent and egalitarianism is enforced through levelling mechanisms, future discounting is an adaptive strategy to prevent wealth accumulation and the emergence of hierarchies. This ensures food sharing and allows for survival in unpredictable environments where there is risk of an energy shortfall. On the other hand, when food storage is made possible by the emergence of agriculture or as seen in some delayed-return hunter-gatherer populations, wealth accumulation, hierarchies and lower discount rates become the adaptive strategy. Therefore, individuals in immediate-return, egalitarian societies will discount the future more than those in non-egalitarian, delayed-return societies. Consistent with the predictions we found that market integration and socio-economic transitions decrease the future discounting in Mbendjele hunter-gatherers. Our measures of socio-economic differences marked this transition in hunter-gatherers living in a logging town. The degree of future-discounting was the same between more market-integrated hunter-gatherers and their farmer neighbours.

Heroin addicts have higher discount rates for delayed rewards than non-drug-using controls.

Science.gov (United States)

Kirby, K N; Petry, N M; Bickel, W K

1999-03-01

Fifty-six heroin addicts and 60 age-matched controls were offered choices between monetary rewards ($11-$80) available immediately and larger rewards ($25-$85) available after delays ranging from 1 week to 6 months. Participants had a 1-in-6 chance of winning a reward that they chose on one randomly selected trial. Delay-discounting rates were estimated from the pattern of participants' choices. The discounting model of impulsiveness (Ainslie, 1975) implies that delay-discounting rates are positively correlated with impulsiveness. On average, heroin addicts' discount rates were twice those of controls (p = .004), and discount rates were positively correlated with impulsivity as measured by self-report questionnaires (p discounting rate as a measure of impulsiveness, a characteristic associated with substance abuse.

Explicit formulas for the variance of discounted life-cycle cost

International Nuclear Information System (INIS)

Noortwijk, Jan M. van

2003-01-01

In life-cycle costing analyses, optimal design is usually achieved by minimising the expected value of the discounted costs. As well as the expected value, the corresponding variance may be useful for estimating, for example, the uncertainty bounds of the calculated discounted costs. However, general explicit formulas for calculating the variance of the discounted costs over an unbounded time horizon are not yet available. In this paper, explicit formulas for this variance are presented. They can be easily implemented in software to optimise structural design and maintenance management. The use of the mathematical results is illustrated with some examples

Reliability of the Discounting Inventory: An extension into substance-use population

Directory of Open Access Journals (Sweden)

Malesza Marta

2017-06-01

Full Text Available Recent research introduced the Discounting Inventory that allows the measurement of individual differences in the delay, probabilistic, effort, and social discounting rates. The goal of this investigation was to determine several aspects of the reliability of the Discounting Inventory using the responses of 385 participants (200 non-smokers and 185 current-smokers. Two types of reliability are of interest. Internal consistency and test-retest stability. A secondary aim was to extend such reliability measures beyond the non-clinical participant. The current study aimed to measure the reliability of the DI in a nicotine-dependent individuals and non-nicotine-dependent individuals. It is concluded that the internal consistency of the DI is excellent, and that the test-retest reliability results suggest that items intended to measure three types of discounting were likely testing trait, rather than state, factors, regardless of whether “non-smokers” were included in, or excluded from, the analyses (probabilistic discounting scale scores being the exception. With these cautions in mind, however, the psychometric properties of the DI appear to be very good.

Benefit assessment in Germany: implications for price discounts.

Science.gov (United States)

Theidel, Ulrike; von der Schulenburg, J-Matthias Graf

2016-12-01

The AMNOG regulation, introduced in 2011 in Germany, changed the game for new drugs. Now, the industry is required to submit a dossier to the GBA (the central decision body in the German sickness fund system) to show additional benefit. After granting the magnitude of the additional benefit by the GBA, the manufacturer is entitled to negotiate the reimbursement price with the GKV-SV (National Association of Statutory Health Insurance Funds). The reimbursement price is defined as a discount on the drug price at launch. As the price or discount negotiations between the manufacturers and the GKV-SV takes place behind closed doors, the factors influencing the results of the negotiation are not known. The aim of this evaluation is to identify factors influencing the results of the AMNOG price negotiation process. The analysis was based on a dataset containing detailed information on all assessments until the end of 2015. A descriptive analysis was followed by an econometric analysis of various potential factors (benefit rating, size of target population, deviating from appropriate comparative therapy and incorporation of HRQoL-data). Until December 2015, manufacturers and the GKV-SV finalized 96 negotiations in 193 therapeutic areas, based on assessment conducted by the GBA. The GBA has granted an additional benefit to 100/193 drug innovations. Negotiated discount was significantly higher for those drugs without additional benefit (p = 0.030) and non-orphan drugs (p = 0.015). Smaller population size, no deviation from recommended appropriate comparative therapy and the incorporation of HRQoL-data were associated with a lower discount on the price at launch. However, neither a uni- nor the multivariate linear regression showed enough power to predict the final discount. Although the AMNOG regulation implemented binding and strict rules for the benefit assessment itself, the outcome of the discount negotiations are still unpredictable. Obviously, negotiation

Unique prediction of cannabis use severity and behaviors by delay discounting and behavioral economic demand.

Science.gov (United States)

Strickland, Justin C; Lile, Joshua A; Stoops, William W

2017-07-01

Few studies have simultaneously evaluated delay discounting and behavioral economic demand to determine their unique contribution to drug use. A recent study in cannabis users found that monetary delay discounting uniquely predicted cannabis dependence symptoms, whereas cannabis demand uniquely predicted use frequency. This study sought to replicate and extend this research by evaluating delay discounting and behavioral economic demand measures for multiple commodities and including a use quantity measure. Amazon.com's Mechanical Turk was used to sample individuals reporting recent cannabis use (n=64) and controls (n=72). Participants completed measures of monetary delay discounting as well as alcohol and cannabis delay discounting and demand. Cannabis users and controls did not differ on monetary delay discounting or alcohol delay discounting and demand. Among cannabis users, regression analyses indicated that cannabis delay discounting uniquely predicted use severity, whereas cannabis demand uniquely predicted use frequency and quantity. These effects remained significant after controlling for other delay discounting and demand measures. This research replicates previous outcomes relating delay discounting and demand with cannabis use and extends them by accounting for the contribution of multiple commodities. This research also demonstrates the ability of online crowdsourcing methods to complement traditional human laboratory techniques. Copyright © 2017 Elsevier B.V. All rights reserved.

Harnessing the uncertainty monster: Putting quantitative constraints on the intergenerational social discount rate

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Lewandowsky, Stephan; Freeman, Mark C.; Mann, Michael E.

2017-09-01

There is broad consensus among economists that unmitigated climate change will ultimately have adverse global economic consequences, that the costs of inaction will likely outweigh the cost of taking action, and that social planners should therefore put a price on carbon. However, there is considerable debate and uncertainty about the appropriate value of the social discount rate, that is the extent to which future damages should be discounted relative to mitigation costs incurred now. We briefly review the ethical issues surrounding the social discount rate and then report a simulation experiment that constrains the value of the discount rate by considering 4 sources of uncertainty and ambiguity: Scientific uncertainty about the extent of future warming, social uncertainty about future population and future economic development, political uncertainty about future mitigation trajectories, and ethical ambiguity about how much the welfare of future generations should be valued today. We compute a certainty-equivalent declining discount rate that accommodates all those sources of uncertainty and ambiguity. The forward (instantaneous) discount rate converges to a value near 0% by century's end and the spot (horizon) discount rate drops below 2% by 2100 and drops below previous estimates by 2070.

Exchanging the liquidity hypothesis: Delay discounting of money and self-relevant non-money rewards.

Science.gov (United States)

Stuppy-Sullivan, Allison M; Tormohlen, Kayla N; Yi, Richard

2016-01-01

Evidence that primary rewards (e.g., food and drugs of abuse) are discounted more than money is frequently attributed to money's high degree of liquidity, or exchangeability for many commodities. The present study provides some evidence against this liquidity hypothesis by contrasting delay discounting of monetary rewards (liquid) and non-monetary commodities (non-liquid) that are self-relevant and utility-matched. Ninety-seven (97) undergraduate students initially completed a conventional binary-choice delay discounting of money task. Participants returned one week later and completed a self-relevant commodity delay discounting task. Both conventional hypothesis testing and more-conservative tests of statistical equivalence revealed correspondence in rate of delay discounting of money and self-relevant commodities, and in one magnitude condition, less discounting for the latter. The present results indicate that liquidity of money cannot fully account for the lower rate of delay discounting compared to non-money rewards. Copyright © 2015 Elsevier B.V. All rights reserved.

Discount rates in risk versus money and money versus money tradeoffs.

Science.gov (United States)

Alberini, Anna; Chiabai, Aline

2007-04-01

We use data from a survey of residents of five Italian cities conducted in late spring 2004 to estimate the discount rates implicit in (1) money versus future risk reductions and (2) money versus money tradeoffs. We find that the mean personal discount rate is 0.3-1.7% in (1) and 8.7% in (2). The latter is lower than the discount rates estimated in comparable situations in many recent studies, greater than market interest rates in Italy at the time, and exhibits modest variation with age and gender. The discount rate implicit in money versus risk tradeoffs is within the range of estimates from studies in the United States and Europe, and does not depend on observable individual characteristics. We use split samples to investigate whether a completely abstract risk reduction - one where the risk reduction delivery has been stripped of all specifics, so that respondents should focus on the risks without being distracted by details - results in WTP and discount figures comparable to those from an identified delivery mechanism (a medical test). We find that while WTP for an immediate risk reduction is 42-73% higher with the abstract risk reduction, the discount rate in the money versus risk tradeoffs and the variance of the error term in the WTP equation are the same across the two variants of the questionnaire.

Incentivizing Decentralized Sanitation: The Role of Discount Rates.

Science.gov (United States)

Wood, Alison; Blackhurst, Michael; Garland, Jay L; Lawler, Desmond F

2016-06-21

In adoption decisions for decentralized sanitation technologies, two decision makers are involved: the public utility and the individual homeowner. Standard life cycle cost is calculated from the perspective of the utility, which uses a market-based discount rate in these calculations. However, both decision-makers must be considered, including their differing perceptions of the time trade-offs inherent in a stream of costs and benefits. This study uses the discount rate as a proxy for these perceptions and decision-maker preferences. The results in two case studies emphasize the dependence on location of such analyses. Falmouth, Massachusetts, appears to be a good candidate for incentivizing decentralized sanitation while the Allegheny County Sanitary Authority service area in Pennsylvania appears to have no need for similar incentives. This method can be applied to any two-party decision in which the parties are expected to have different discount rates.

Accounting conventions for discounting in the optimisation of protection

International Nuclear Information System (INIS)

Fleishman, A.B.

1983-01-01

Some of the implications which arise from the use of accounting conventions in the cost benefit framework for optimization of radiation protection are briefly examined. Some accounting techniques which appear not to discount future detriment costs do so, in fact, at a hidden fixed rate; others give a free choice over whether to discount and at what rate. (U.K.)

When Discounts Hurt Sales: The Case of Daily-Deal Markets

NARCIS (Netherlands)

Z. Cao (Zike); K.L. Hui (Kai-Lung); Xu, H.

2017-01-01

textabstractWe investigate whether the discounts offered by online daily deals help attract consumer purchases. By tracking the sales of 19,978 deals on Groupon.com and conducting a battery of identification and falsification tests, we find that deep discounts reduce sales. A one-percent increase in

Philosophical origins of the social rate of discount in cost-benefit analysis.

Science.gov (United States)

Robinson, J C

1990-01-01

The social rate of discount--that is, the way decision makers today evaluate future consequences of collective activity--raises difficult issues of intergenerational justice. When benefits are discounted at the present rate the United States government requires, serious efforts to promote public health over the long term will fail cost-benefit tests. No consensus exists among theorists to establish fair rates; philosophers support discounting with economic arguments that economists reject, while economists no less paradoxically support the concept using philosophical arguments that philosophers disavow. A new emphasis on the role of consumers' and citizens' time preferences, however, will keep open rather than close debates on the social discount rate.

Changing delay discounting in the light of the competing neurobehavioral decision systems theory: a review.

Science.gov (United States)

Koffarnus, Mikhail N; Jarmolowicz, David P; Mueller, E Terry; Bickel, Warren K

2013-01-01

Excessively devaluing delayed reinforcers co-occurs with a wide variety of clinical conditions such as drug dependence, obesity, and excessive gambling. If excessive delay discounting is a trans-disease process that underlies the choice behavior leading to these and other negative health conditions, efforts to change an individual's discount rate are arguably important. Although discount rate is often regarded as a relatively stable trait, descriptions of interventions and environmental manipulations that successfully alter discount rate have begun to appear in the literature. In this review, we compare published examples of procedures that change discount rate and classify them into categories of procedures, including therapeutic interventions, direct manipulation of the executive decision-making system, framing effects, physiological state effects, and acute drug effects. These changes in discount rate are interpreted from the perspective of the competing neurobehavioral decision systems theory, which describes a combination of neurological and behavioral processes that account for delay discounting. We also suggest future directions that researchers could take to identify the mechanistic processes that allow for changes in discount rate and to test whether the competing neurobehavioral decision systems view of delay discounting is correct. © Society for the Experimental Analysis of Behavior.

A high volume cost efficient production macrostructuring process. [for silicon solar cell surface treatment

Science.gov (United States)

Chitre, S. R.

1978-01-01

The paper presents an experimentally developed surface macro-structuring process suitable for high volume production of silicon solar cells. The process lends itself easily to automation for high throughput to meet low-cost solar array goals. The tetrahedron structure observed is 0.5 - 12 micron high. The surface has minimal pitting with virtually no or very few undeveloped areas across the surface. This process has been developed for (100) oriented as cut silicon. Chemi-etched, hydrophobic and lapped surfaces were successfully texturized. A cost analysis as per Samics is presented.

Temporal discounting across three psychiatric disorders: Anorexia nervosa, obsessive compulsive disorder, and social anxiety disorder

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Steinglass, Joanna E.; Lempert, Karolina M.; Choo, Tse-Hwei; Kimeldorf, Marcia B.; Wall, Melanie; Walsh, B. Timothy; Fyer, Abby J.; Schneier, Franklin R.; Simpson, H. Blair

2018-01-01

Background Temporal discounting refers to the tendency for rewards to lose value as the expected delay to receipt increases. Individuals with anorexia nervosa (AN) have been found to show reduced temporal discounting rates, indicating a greater preference for delayed rewards compared to healthy peers. Obsessive–compulsive disorder (OCD) and social anxiety disorder (SAD) commonly co-occur with AN, and anxiety has been related to development and prognosis of AN. We examined whether reduced temporal discounting is present across these potentially related disorders, and explored the relationship between temporal discounting and anxiety trans-diagnostically. Methods One hundred ninety six individuals (75 healthy controls (HC); 50 OCD; 27 AN; 44 SAD) completed two temporal discounting tasks in which they chose between smaller-sooner and larger-later monetary rewards. Two measures of discounting—discount rate and discount factor—were compared between diagnostic groups, and associations with anxious traits were examined. Results Individuals with AN showed decreased temporal discounting compared to HC. OCD and SAD groups did not differ significantly from HC. Across the sample, anxiety was associated with decreased discounting; more anxious individuals showed a greater preference for delayed reward. Conclusions We replicated the findings that individuals with AN show an increased preference for delayed reward relative to HC and that individuals with OCD do not differ from HC. We also showed that individuals with SAD do not differ from HC in discounting. Across this large sample, two measures of anxious temperament were associated with temporal discounting. These data raise new questions about the relationship between this dimensional trait and psychopathology. PMID:28009473

Delay or probability discounting in a model of impulsive behavior: effect of alcohol.

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Richards, J B; Zhang, L; Mitchell, S H; de Wit, H

1999-01-01

Little is known about the acute effects of drugs of abuse on impulsivity and self-control. In this study, impulsivity was assessed in humans using a computer task that measured delay and probability discounting. Discounting describes how much the value of a reward (or punisher) is decreased when its occurrence is either delayed or uncertain. Twenty-four healthy adult volunteers ingested a moderate dose of ethanol (0.5 or 0.8 g/kg ethanol: n = 12 at each dose) or placebo before completing the discounting task. In the task the participants were given a series of choices between a small, immediate, certain amount of money and $10 that was either delayed (0, 2, 30, 180, or 365 days) or probabilistic (i.e., certainty of receipt was 1.0, .9, .75, .5, or .25). The point at which each individual was indifferent between the smaller immediate or certain reward and the $10 delayed or probabilistic reward was identified using an adjusting-amount procedure. The results indicated that (a) delay and probability discounting were well described by a hyperbolic function; (b) delay and probability discounting were positively correlated within subjects; (c) delay and probability discounting were moderately correlated with personality measures of impulsivity; and (d) alcohol had no effect on discounting. PMID:10220927

Insulin, Central Dopamine D2 Receptors, and Monetary Reward Discounting in Obesity.

Science.gov (United States)

Eisenstein, Sarah A; Gredysa, Danuta M; Antenor-Dorsey, Jo Ann; Green, Leonard; Arbeláez, Ana Maria; Koller, Jonathan M; Black, Kevin J; Perlmutter, Joel S; Moerlein, Stephen M; Hershey, Tamara

2015-01-01

Animal research finds that insulin regulates dopamine signaling and reward behavior, but similar research in humans is lacking. We investigated whether individual differences in body mass index, percent body fat, pancreatic β-cell function, and dopamine D2 receptor binding were related to reward discounting in obese and non-obese adult men and women. Obese (n = 27; body mass index>30) and non-obese (n = 20; body mass indexmonetary rewards relative to immediate, certain smaller monetary rewards was measured using delayed and probabilistic reward discounting tasks. Positron emission tomography using a non-displaceable D2-specific radioligand, [11C](N-methyl)benperidol quantified striatal D2 receptor binding. Groups differed in body mass index, percent body fat, and disposition index, but not in striatal D2 receptor specific binding or reward discounting. Higher percent body fat in non-obese women related to preference for a smaller, certain reward over a larger, less likely one (greater probabilistic discounting). Lower β-cell function in the total sample and lower insulin sensitivity in obese related to stronger preference for an immediate and smaller monetary reward over delayed receipt of a larger one (greater delay discounting). In obese adults, higher striatal D2 receptor binding related to greater delay discounting. Interestingly, striatal D2 receptor binding was not significantly related to body mass index, percent body fat, or β-cell function in either group. Our findings indicate that individual differences in percent body fat, β-cell function, and striatal D2 receptor binding may each contribute to altered reward discounting behavior in non-obese and obese individuals. These results raise interesting questions about whether and how striatal D2 receptor binding and metabolic factors, including β-cell function, interact to affect reward discounting in humans.

Time discounting and protected-area priorities.

Science.gov (United States)

Armsworth, Paul R

2018-05-08

Should conservation organizations focus on protecting habitats that are at imminent risk of being converted but are expensive or more remote areas that are less immediately threatened but where a large amount of land can be set aside? Variants of this trade-off commonly arise in spatial planning. We examined this trade-off using models of land use change near a deforestation frontier. The optimal choice of where to protect was determined by how decisions taken today accounted for ecological benefits and economic costs of conservation actions that would occur sometime in the future. We used an ecological and economic discount rate to weight these benefits and costs. A large economic discount rate favored protecting more remote areas, whereas a large, positive ecological discount rate favored protecting habitat near the current deforestation frontier. We also showed how the decision over where to protect was impacted by the influence that economic factors had in determining landowners' decisions, the rate of technological change and ecological heterogeneity of the landscape. How benefits and costs through time are accounted for warrants careful consideration when specifying conservation objectives. It may provide a niche axis along which conservation organizations differentiate themselves when competing for donor funding or other support. This article is protected by copyright. All rights reserved. This article is protected by copyright. All rights reserved.

Positive autobiographical memory retrieval reduces temporal discounting.

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Lempert, Karolina M; Speer, Megan E; Delgado, Mauricio R; Phelps, Elizabeth A

2017-10-01

People generally prefer rewards sooner rather than later. This phenomenon, temporal discounting, underlies many societal problems, including addiction and obesity. One way to reduce temporal discounting is to imagine positive future experiences. Since there is overlap in the neural circuitry associated with imagining future experiences and remembering past events, here we investigate whether recalling positive memories can also promote more patient choice. We found that participants were more patient after retrieving positive autobiographical memories, but not when they recalled negative memories. Moreover, individuals were more impulsive after imagining novel positive scenes that were not related to their memories, showing that positive imagery alone does not drive this effect. Activity in the striatum and temporo parietal junction during memory retrieval predicted more patient choice, suggesting that to the extent that memory recall is rewarding and involves perspective-taking, it influences decision-making. Furthermore, representational similarity in the ventromedial prefrontal cortex between memory recall and decision phases correlated with the behavioral effect across participants. Thus, we have identified a novel manipulation for reducing temporal discounting-remembering the positive past-and have begun to characterize the psychological and neural mechanisms behind it. © The Author (2017). Published by Oxford University Press.

Design and analysis of a dead volume control for a solar Stirling engine with induction generator

International Nuclear Information System (INIS)

Beltrán-Chacon, Ricardo; Leal-Chavez, Daniel; Sauceda, D.; Pellegrini-Cervantes, Manuel; Borunda, Mónica

2015-01-01

In this work, a power generation system dish/Stirling with cavity receiver and an electrical induction generator was simulated. We propose a control system using a variable-dead-volume and analyze its influence on the mechanical performance. A system with a dead volume of 160 cm"3 was designed to control the power and speed of the engine considering annual insolation, mechanical properties of the heater and the limits of frequency and voltage for the systems interconnected to the electricity network. The designed system achieves net efficient solar conversion to electric of 23.38% at an irradiance of 975 W/m"2 and allows an annual increase of 18% of the useful electrical energy compared to a system without control. - Highlights: • Numerical simulation of a nitrogen charged solar Stirling engine for electric power generation. • Design and analysis of a dead volume control for performance increase and power modulation. • Effect of dead space on average working pressure and mass flow rate. • Comparison between dead volume and average pressure control methods. • Impact of Stirling engine control settings on annual generated electric power.

10% discount at Novae restaurants for students

CERN Document Server

2016-01-01

A 10% discount will be granted for students dining in restaurants 1 and 2 (on the Meyrin site) during the summer from 15 June 2016 to 15 September 2016.   A special badge will be issued by the respective secretariats if the student fulfils the following criteria:  Is under 25 years old; Is in possession of a student card issued by a University or college; Has a CERN contract > 1 month (Users, Summer Students, Trainees, etc). This badge and the CERN access card will have to be shown at the Novae restaurants in order to benefit from this discount.

Delay Discounting of Losses in Alcohol Use Disorders and Antisocial Psychopathology: Effects of a Working Memory Load.

Science.gov (United States)

Gerst, Kyle R; Gunn, Rachel L; Finn, Peter R

2017-10-01

Alcohol use disorders (AUDs) are associated with increased discounting of delayed rewards and reduced executive working memory (eWM) capacity. This association is amplified when comorbid with antisocial psychopathology (AP). Furthermore, recent studies suggest that reduced WM capacity is associated with disinhibited decisions reflected by increased impulsive decision making on the delay discounting of rewards task. While discounting of delayed rewards is well studied, the discounting of delayed losses has received significantly less experimental attention. The current study investigated (i) the rate of discounting of delayed losses in individuals with AUD only (n = 61), AUD with comorbid AP (n = 79) and healthy controls (n = 64); (ii) the relationship between eWM capacity and discounting of delayed losses; and (iii) the effect of a WM load on discounting of delayed losses. Discounting performance was assessed using a computerized discounting of delayed losses task. Results showed that the AUD-only and AUD-AP groups had higher rates of discounting of delayed losses and lower eWM capacity compared to the control groups. Lower individual eWM capacity was associated with increased discounting of delayed losses. However, WM load did not increase discounting rates overall. These results support the hypothesis that greater discounting of delayed losses is associated with AUD and comorbid AP problems and lower individual eWM capacity. Copyright © 2017 by the Research Society on Alcoholism.

Does private-label production by national-brand manufacturers create discounter goodwill?

NARCIS (Netherlands)

Ter Braak, A.M.; Deleersnyder, B.; Geyskens, I.; Dekimpe, M.G.

2013-01-01

Discount stores have a private-label dominated assortment where national brands have only limited shelf access. These limited spots are in high demand by national-brand manufacturers. We examine whether private-label production by leading national-brand manufacturers for two important discounters

The WACC Fallacy: The Real Effects of Using a Unique Discount Rate

OpenAIRE

Krüger, Philipp; Landier, Augustin; Thesmar, David

2011-01-01

We document investment distortions induced by the use of a single discount rate within firms. According to textbook capital budgeting, firms should value any project using a discount rate determined by the risk characteristics of the project. If they use a unique company-wide discount rate, they overinvest (resp. underinvest) in divisions with a market beta higher (resp. lower) than the firm's core industry beta. We directly test this consequence of the WACC fallacy and establish a robust and...

Brain Activity in Valuation Regions while Thinking about the Future Predicts Individual Discount Rates

Science.gov (United States)

Cooper, Nicole; Kim, B. Kyu; Zauberman, Gal

2013-01-01

People vary widely in how much they discount delayed rewards, yet little is known about the sources of these differences. Here we demonstrate that neural activity in ventromedial prefrontal cortex (VMPFC) and ventral striatum (VS) when human subjects are asked to merely think about the future—specifically, to judge the subjective length of future time intervals—predicts delay discounting. High discounters showed lower activity for longer time delays, while low discounters showed the opposite pattern. Our results demonstrate that the correlation between VMPFC and VS activity and discounting occurs even in the absence of choices about future rewards, and does not depend on a person explicitly evaluating future outcomes or judging their self-relevance. This suggests a link between discounting and basic processes involved in thinking about the future, such as temporal perception. Our results also suggest that reducing impatience requires not suppression of VMPFC and VS activity altogether, but rather modulation of how these regions respond to the present versus the future. PMID:23926268

Delay and probability discounting of sexual and monetary outcomes in individuals with cocaine use disorders and matched controls.

Science.gov (United States)

Johnson, Matthew W; Johnson, Patrick S; Herrmann, Evan S; Sweeney, Mary M

2015-01-01

Individuals with cocaine use disorders are disproportionately affected by HIV/AIDS, partly due to higher rates of unprotected sex. Recent research suggests delay discounting of condom use is a factor in sexual HIV risk. Delay discounting is a behavioral economic concept describing how delaying an event reduces that event's value or impact on behavior. Probability discounting is a related concept describing how the uncertainty of an event decreases its impact on behavior. Individuals with cocaine use disorders (n = 23) and matched non-cocaine-using controls (n = 24) were compared in decision-making tasks involving hypothetical outcomes: delay discounting of condom-protected sex (Sexual Delay Discounting Task), delay discounting of money, the effect of sexually transmitted infection (STI) risk on likelihood of condom use (Sexual Probability Discounting Task), and probability discounting of money. The Cocaine group discounted delayed condom-protected sex (i.e., were more likely to have unprotected sex vs. wait for a condom) significantly more than controls in two of four Sexual Delay Discounting Task partner conditions. The Cocaine group also discounted delayed money (i.e., preferred smaller immediate amounts over larger delayed amounts) significantly more than controls. In the Sexual Probability Discounting Task, both groups showed sensitivity to STI risk, however the groups did not differ. The Cocaine group did not consistently discount probabilistic money more or less than controls. Steeper discounting of delayed, but not probabilistic, sexual outcomes may contribute to greater rates of sexual HIV risk among individuals with cocaine use disorders. Probability discounting of sexual outcomes may contribute to risk of unprotected sex in both groups. Correlations showed sexual and monetary results were unrelated, for both delay and probability discounting. The results highlight the importance of studying specific behavioral processes (e.g., delay and probability

Delay and probability discounting of sexual and monetary outcomes in individuals with cocaine use disorders and matched controls.

Directory of Open Access Journals (Sweden)

Matthew W Johnson

Full Text Available Individuals with cocaine use disorders are disproportionately affected by HIV/AIDS, partly due to higher rates of unprotected sex. Recent research suggests delay discounting of condom use is a factor in sexual HIV risk. Delay discounting is a behavioral economic concept describing how delaying an event reduces that event's value or impact on behavior. Probability discounting is a related concept describing how the uncertainty of an event decreases its impact on behavior. Individuals with cocaine use disorders (n = 23 and matched non-cocaine-using controls (n = 24 were compared in decision-making tasks involving hypothetical outcomes: delay discounting of condom-protected sex (Sexual Delay Discounting Task, delay discounting of money, the effect of sexually transmitted infection (STI risk on likelihood of condom use (Sexual Probability Discounting Task, and probability discounting of money. The Cocaine group discounted delayed condom-protected sex (i.e., were more likely to have unprotected sex vs. wait for a condom significantly more than controls in two of four Sexual Delay Discounting Task partner conditions. The Cocaine group also discounted delayed money (i.e., preferred smaller immediate amounts over larger delayed amounts significantly more than controls. In the Sexual Probability Discounting Task, both groups showed sensitivity to STI risk, however the groups did not differ. The Cocaine group did not consistently discount probabilistic money more or less than controls. Steeper discounting of delayed, but not probabilistic, sexual outcomes may contribute to greater rates of sexual HIV risk among individuals with cocaine use disorders. Probability discounting of sexual outcomes may contribute to risk of unprotected sex in both groups. Correlations showed sexual and monetary results were unrelated, for both delay and probability discounting. The results highlight the importance of studying specific behavioral processes (e.g., delay and

Solar central receiver prototype heliostat CDRL item B. d. Final technical report, Volume 2

Energy Technology Data Exchange (ETDEWEB)

Easton, C. R.

1978-08-01

This is volume II of a two volume report which presents the results of a study to define a low-cost approach to the production, installation, and operation of heliostats for central receiver solar thermal power plants. Performance and cost analyses are presented, and critical R and D areas are identified. Also, computer printed work sheets are included for heliostat investment, maintenance equipment investment, initial spares investment, and first years operations and maintenance for 2,500, 25,000, 250,000, and 1,000,000 units per year production. (WHK)

Cocaine dependent individuals discount future rewards more than future losses for both cocaine and monetary outcomes.

Science.gov (United States)

Johnson, Matthew W; Bruner, Natalie R; Johnson, Patrick S

2015-01-01

Cocaine dependence and other forms of drug dependence are associated with steeper devaluation of future outcomes (delay discounting). Although studies in this domain have typically assessed choices between monetary gains (e.g., receive less money now versus receive more money after a delay), delay discounting is also applicable to decisions involving losses (e.g., small loss now versus larger delayed loss), with gains typically discounted more than losses (the "sign effect"). It is also known that drugs are discounted more than equivalently valued money. In the context of drug dependence, however, relatively little is known about the discounting of delayed monetary and drug losses and the presence of the sign effect. In this within-subject, laboratory study, delay discounting for gains and losses was assessed for cocaine and money outcomes in cocaine-dependent individuals (n=89). Both cocaine and monetary gains were discounted at significantly greater rates than cocaine and monetary losses, respectively (i.e., the sign effect). Cocaine gains were discounted significantly more than monetary gains, but cocaine and monetary losses were discounted similarly. Results suggest that cocaine is discounted by cocaine-dependent individuals in a systematic manner similar to other rewards. Because the sign effect was shown for both cocaine and money, delayed aversive outcomes may generally have greater impact than delayed rewards in shaping present behavior in this population. Copyright © 2014. Published by Elsevier Ltd.

Insulin, Central Dopamine D2 Receptors, and Monetary Reward Discounting in Obesity.

Directory of Open Access Journals (Sweden)

Sarah A Eisenstein

Full Text Available Animal research finds that insulin regulates dopamine signaling and reward behavior, but similar research in humans is lacking. We investigated whether individual differences in body mass index, percent body fat, pancreatic β-cell function, and dopamine D2 receptor binding were related to reward discounting in obese and non-obese adult men and women. Obese (n = 27; body mass index>30 and non-obese (n = 20; body mass index<30 adults were assessed for percent body fat with dual-energy X-ray absorptiometry and for β-cell function using disposition index. Choice of larger, but delayed or less certain, monetary rewards relative to immediate, certain smaller monetary rewards was measured using delayed and probabilistic reward discounting tasks. Positron emission tomography using a non-displaceable D2-specific radioligand, [11C](N-methylbenperidol quantified striatal D2 receptor binding. Groups differed in body mass index, percent body fat, and disposition index, but not in striatal D2 receptor specific binding or reward discounting. Higher percent body fat in non-obese women related to preference for a smaller, certain reward over a larger, less likely one (greater probabilistic discounting. Lower β-cell function in the total sample and lower insulin sensitivity in obese related to stronger preference for an immediate and smaller monetary reward over delayed receipt of a larger one (greater delay discounting. In obese adults, higher striatal D2 receptor binding related to greater delay discounting. Interestingly, striatal D2 receptor binding was not significantly related to body mass index, percent body fat, or β-cell function in either group. Our findings indicate that individual differences in percent body fat, β-cell function, and striatal D2 receptor binding may each contribute to altered reward discounting behavior in non-obese and obese individuals. These results raise interesting questions about whether and how striatal D2 receptor binding

A new economic feasibility approach for solar chimney power plant design

International Nuclear Information System (INIS)

Okoye, Chiemeka Onyeka; Solyalı, Oğuz; Taylan, Onur

2016-01-01

Highlights: • A two-stage economic feasibility approach is proposed for the SCPP design. • The optimal size of the SCPP is determined by solving a nonlinear optimization model. • Energy demand and stochasticity of solar radiation and temperature are considered. • The proposed approach is evaluated on locations in Nigeria. • The proposed approach is an effective decision-making tool for the SCPP design. - Abstract: Solar chimney power plants have been accepted as one of the promising technologies for solar energy utilization. The objective of this study is to propose an effective approach to simultaneously determine the optimal dimensions of the solar chimney power plant and the economic feasibility of the proposed plant. For this purpose, a two-stage economic feasibility approach is proposed based on a new nonlinear programming model. In the first stage, the proposed optimization model which determines the optimal plant dimensions that not only minimize the discounted total cost of the system, but also satisfy the energy demand within a specified reliability taking into account the stochasticity of solar radiation and ambient temperature is solved using a commercial optimization solver that guarantees finding the global optimum. In the second stage, the net present value of building the plant is computed by deducting the discounted total cost found in the first stage from the present value of revenues obtained due to selling the electricity generated by the plant. The proposed approach is novel because it determines the optimal dimensions of the plant together with its economic feasibility by taking into account the energy demand and uncertainty in solar radiation and ambient temperature. The proposed approach is applied on a study in Potiskum, Nigeria, which reveals that building a plant with a collector diameter of 1128 m and chimney height of 715 m to Potiskum would be profitable for investors at an annual rate of return of 3% and would provide

78 FR 16706 - Change in Discount Rate for Water Resources Planning

Science.gov (United States)

2013-03-18

... Planning AGENCY: Bureau of Reclamation, Interior. ACTION: Notice of change. SUMMARY: The Water Resources Planning Act of 1965 and the Water Resources Development Act of 1974 require an annual determination of a discount rate for Federal water resources planning. The discount rate for Federal water resources planning...

75 FR 8106 - Change in Discount Rate for Water Resources Planning

Science.gov (United States)

2010-02-23

... Planning AGENCY: Bureau of Reclamation, Interior. ACTION: Notice of change. SUMMARY: The Water Resources Planning Act of 1965 and the Water Resources Development Act of 1974 require an annual determination of a discount rate for Federal water resources planning. The discount rate for Federal water resources planning...

75 FR 82066 - Change in Discount Rate for Water Resources Planning

Science.gov (United States)

2010-12-29

... Planning AGENCY: Bureau of Reclamation, Interior. ACTION: Notice of change. SUMMARY: The Water Resources Planning Act of 1965 and the Water Resources Development Act of 1974 require an annual determination of a discount rate for Federal water resources planning. The discount rate for Federal water resources planning...

76 FR 73674 - Change in Discount Rate for Water Resources Planning

Science.gov (United States)

2011-11-29

... Planning AGENCY: Bureau of Reclamation, Interior. ACTION: Notice of change. SUMMARY: The Water Resources Planning Act of 1965 and the Water Resources Development Act of 1974 require an annual determination of a discount rate for Federal water resources planning. The discount rate for Federal water resources planning...

Discount method for programming language evaluation

DEFF Research Database (Denmark)

Kurtev, Svetomir; Christensen, Tommy Aagaard; Thomsen, Bent

2016-01-01

This paper presents work in progress on developing a Discount Method for Programming Language Evaluation inspired by the Discount Usability Evaluation method (Benyon 2010) and the Instant Data Analysis method (Kjeldskov et al. 2004). The method is intended to bridge the gap between small scale...... internal language design evaluation methods and large scale surveys and quantitative evaluation methods. The method is designed to be applicable even before a compiler or IDE is developed for a new language. To test the method, a usability evaluation experiment was carried out on the Quorum programming...... language (Stefik et al. 2016) using programmers with experience in C and C#. When comparing our results with previous studies of Quorum, most of the data was comparable though not strictly in agreement. However, the discrepancies were mainly related to the programmers pre-existing expectations...

A Rational Model of the Closed-End Fund Discount

OpenAIRE

Jonathan Berk; Richard Stanton

2004-01-01

The discount on closed-end funds is widely accepted as proof of investor irrationality. We show,however, that a parsimonious rational model can generate a discount that exhibits many of the characteristics observed in practice. The only required features of the model are that managers have (imperfectly observable) ability to generate excess returns; they sign long-term contracts guaranteeing them a fee each year equal to a fixed fraction of assets under management; and they can leave to earn ...

Delay discounting of oral morphine and sweetened juice rewards in dependent and non-dependent rats.

Science.gov (United States)

Harvey-Lewis, Colin; Perdrizet, Johnna; Franklin, Keith B J

2014-07-01

Opioid-dependent humans are reported to show accelerated delay discounting of opioid rewards when compared to monetary rewards. It has been suggested that this may reflect a difference in discounting of consumable and non-consumable goods not specific to dependent individuals. Here, we evaluate the discounting of similar morphine and non-morphine oral rewards in dependent and non-dependent rats We first tested the analgesic and rewarding effects of our morphine solution. In a second experiment, we assigned rats randomly to either dependent or non-dependent groups that, 30 min after daily testing, received 30 mg/kg subcutaneous dose of morphine, or saline, respectively. Delay discounting of drug-free reward was examined prior to initiation of the dosing regimen. We tested discounting of the morphine reward in half the rats and retested the discounting of the drug-free reward in the other half. All tests were run 22.5 h after the daily maintenance dose. Rats preferred the morphine cocktail to the drug-free solution and consumed enough to induce significant analgesia. The control quinine solution did not produce these effects. Dependent rats discounted morphine rewards more rapidly than before dependence and when compared to discounting drug-free rewards. In non-dependent rats both reward types were discounted similarly. These results show that morphine dependence increases impulsiveness specifically towards a drug reward while morphine experience without dependence does not.

Hippocampus, delay discounting, and vicarious trial-and-error.

Science.gov (United States)

Bett, David; Murdoch, Lauren H; Wood, Emma R; Dudchenko, Paul A

2015-05-01

In decision-making, an immediate reward is usually preferred to a delayed reward, even if the latter is larger. We tested whether the hippocampus is necessary for this form of temporal discounting, and for vicarious trial-and-error at the decision point. Rats were trained on a recently developed, adjustable delay-discounting task (Papale et al. (2012) Cogn Affect Behav Neurosci 12:513-526), which featured a choice between a small, nearly immediate reward, and a larger, delayed reward. Rats then received either hippocampus or sham lesions. Animals with hippocampus lesions adjusted the delay for the larger reward to a level similar to that of sham-lesioned animals, suggesting a similar valuation capacity. However, the hippocampus lesion group spent significantly longer investigating the small and large rewards in the first part of the sessions, and were less sensitive to changes in the amount of reward in the large reward maze arm. Both sham- and hippocampus-lesioned rats showed a greater amount of vicarious trial-and-error on trials in which the delay was adjusted. In a nonadjusting version of the delay discounting task, animals with hippocampus lesions showed more variability in their preference for a larger reward that was delayed by 10 s compared with sham-lesioned animals. To verify the lesion behaviorally, rat were subsequently trained on a water maze task, and rats with hippocampus lesions were significantly impaired compared with sham-lesioned animals. The findings on the delay discounting tasks suggest that damage to the hippocampus may impair the detection of reward magnitude. © 2014 Wiley Periodicals, Inc.

The vanishing discount problem and viscosity Mather measures. Part 2: boundary value problems

OpenAIRE

Ishii, Hitoshi; Mitake, Hiroyoshi; Tran, Hung V.

2016-01-01

In arXiv:1603.01051 (Part 1 of this series), we have introduced a variational approach to studying the vanishing discount problem for fully nonlinear, degenerate elliptic, partial differential equations in a torus. We develop this approach further here to handle boundary value problems. In particular, we establish new representation formulas for solutions of discount problems, critical values, and use them to prove convergence results for the vanishing discount problems.

Global warming: discounting is not the issue, but substitutability is

International Nuclear Information System (INIS)

Neumayer, E.

1999-01-01

The cost-benefit study of Nordhaus (1994) is representative for the neoclassical approach towards global warming. Nordhaus found that no substantial emission cuts are warranted. Most of his critics have concentrated on the issue of discounting and demanded that a lower discount rate should be applied. These criticisms first miss the point and second lead to ethically dubious, inconsistent conclusions and inefficient policy choices. They miss the point because the real problem of Nordhaus's methodology is his implicit underlying assumption of perfect substitutability between natural and other forms of capital. Given the validity of this assumption, lowering the rate of discount is inconsistent with current savings behaviour, is ethically dubious because future generations will be much richer than the current one anyway, and is inefficient because scarce financial resources are channelled into emissions abatement that exhibits rates of return far inferior to alternative public investments. Any call for aggressive emission abatement must therefore directly attack the perfect substitutability assumption of neoclassical economics. The real disagreement is about whether consumption growth can compensate for environmental degradation caused by global warming. Discounting is not the issue, but substitutability is. (author)

Implicit individual discount rate in China: A contingent valuation study.

Science.gov (United States)

Wang, Hua; He, Jie

2018-03-15

Two contingent valuation (CV) surveys were conducted in Kunming, China, to estimate households' willingness to pay (WTP) for the Panlong River rehabilitation project. The two surveys were conducted using the same procedures and questionnaires except for the payment schedule arrangements, which permitted a calculation of respondents' implicit discount rate. The surveys provided two estimates of WTP, one with a mean of 23 Yuan in monthly payment over 5 years and the other with a mean of 311 Yuan in a lump-sum payment that will cover all the expenses for a period of 5 years. The results produce an estimate of monthly discount rate of 7.6%-12.6% or annual discount rate of 141-315%. The estimates are higher than that reported from those studies conducted in the U.S., but are compatible with that of some other studies. This study also shows that both mean individual WTP and implicit individual discount rates are closely related to household demographic and economic characteristics and environment-related perceptions, as reported in the studies conducted in other countries. Copyright © 2017 Elsevier Ltd. All rights reserved.

Win-Win Strategies at Discount Stores

NARCIS (Netherlands)

B. Deleersnyder (Barbara); M.G. Dekimpe (Marnik); J-B.E.M. Steenkamp (Jan-Benedict); O. Koll (Oliver)

2005-01-01

textabstractAn important development that contributes to store brands’ growing success in the grocery market is the increasing number of discount stores that sell predominantly own, private-label, brands. To fight private labels, manufacturers of national brands feel increasingly compelled to

The Effect of the Volume Flow rate on the Efficiency of a Solar Collector

DEFF Research Database (Denmark)

Fan, Jianhua; Shah, Louise Jivan; Furbo, Simon

rates. Theoretically, a simplified model of the solar collector panel is built by means of the CFD (Computational Fluid Dynamics) code Fluent, where the geometry of the collector panel except the casing is fully modeled. Both lateral and longitudinal heat conduction in the absorber fins, the heat...... transfer from the absorber to the solar collector fluid and the heat loss from the absorber are considered. Flow and temperature distribution in the collector panel are investigated with buoyancy effect. Measurements are carried out with the solar collector panel. Collector efficiencies are measured......The flow distribution inside a collector panel with an area of 12.5 m² and with 16 parallel connected horizontal fins and the effect of the flow nonuniformity on the risk of boiling and on the collector efficiency have been theoretically and experimentally investigated for different volume flow...

Predictive Validity of Delay Discounting Behavior in Adolescence: A Longitudinal Twin Study

Science.gov (United States)

Isen, Joshua D.; Sparks, Jordan C.; Iacono, William G.

2014-01-01

A standard assumption in the delay discounting literature is that individuals who exhibit steeper discounting of hypothetical rewards also experience greater difficulty deferring gratification to real-world rewards. There is ample cross-sectional evidence that delay discounting paradigms reflect a variety of maladaptive psychosocial outcomes, including substance use pathology. We sought to determine whether a computerized assessment of hypothetical delay discounting (HDD) taps into behavioral impulsivity in a community sample of adolescent twins (N = 675). Using a longitudinal design, we hypothesized that greater HDD at age 14–15 predicts real-world impulsive choices and risk for substance use disorders in late adolescence. We also examined the genetic and environmental structure of HDD performance. Individual differences in HDD behavior showed moderate heritability, and were prospectively associated with real-world temporal discounting at age 17–18. Contrary to expectations, HDD was not consistently related to substance use or trait impulsivity. Although a significant association between HDD behavior and past substance use emerged in males, this effect was mediated by cognitive ability. In both sexes, HDD failed to predict a comprehensive index of substance use problems and behavioral disinhibition in late adolescence. In sum, we present some of the first evidence that HDD performance is heritable and predictive of real-world temporal discounting of rewards. Nevertheless, HDD might not serve as a valid marker of substance use disorder risk in younger adolescents, particularly females. PMID:24999868

A behavioral economic analysis of texting while driving: Delay discounting processes.

Science.gov (United States)

Hayashi, Yusuke; Miller, Kimberly; Foreman, Anne M; Wirth, Oliver

2016-12-01

The purpose of the present study was to examine an impulsive decision-making process underlying texting while driving from a behavioral economic perspective. A sample of 108 college students completed a novel discounting task that presented participants with a hypothetical scenario in which, after receiving a text message while driving, they rated the likelihood of replying to a text message immediately versus waiting to reply for a specific period of time. Participants also completed a delay discounting task in which they made repeated hypothetical choices between obtaining a larger amount of money available after a delay and an equal or lesser amount of money available immediately. The results show that the duration of the delay is a critical variable that strongly determines whether participants choose to wait to reply to a text message, and that the decrease in the likelihood of waiting as a function of delay is best described by a hyperbolic delay discounting function. The results also show that participants who self-reported higher frequency of texting while driving discounted the opportunity to reply to a text message at greater rates, whereas there was no relation between the rates of discounting of hypothetical monetary rewards and the frequency of texting while driving. The results support the conclusion that texting while driving is fundamentally an impulsive choice. Copyright © 2016 Elsevier Ltd. All rights reserved.

Psychological aspects of nuclear waste disposal: Long time perception and the question of discounting of risks

International Nuclear Information System (INIS)

Karlsson, G.; Svenson, O.

1988-01-01

Subjects of different ages and basic training indicated how they perceived risks related to spent nuclear fuel storage and located at different points of time into the future. The results indicated that minorities in all groups, ranging from about 10 to 40%, did not want to discount risks into the future. Those who discounted exhibited great inter and intra group variability. The physical discounting curves for e.g. both total radiation and for Pu-239 and -240 are within the range of curves generated by the groups for subjective discounting of risk. Politicians and experts were attributed equal shares of responsibility for risks of spent nuclear fuel in the future. About 10% to 40% of the subjects did not wish to discount responsibility. Discounting rates for those discounting varied so that some subjects decreased the level of responsibility to less than half 10 000 years into the future while others attributed this level of responsibility for 100 000 years and more. (orig./HP)

Book Discounts and Cost-Plus Pricing

Science.gov (United States)

Andresen, David C.

1974-01-01

The adoption of cost-plus pricing by a major book jobber may have profound effects on the discounts that libraries receive. The article explains the pricing system and presents a set of graphs for libraries to use to determine its effects. (Author)

Unhealthy diets, obesity and time discounting: a systematic literature review and network analysis.

Science.gov (United States)

Barlow, Pepita; Reeves, Aaron; McKee, Martin; Galea, Gauden; Stuckler, David

2016-09-01

There is an increasing policy commitment to address the avoidable burdens of unhealthy diet, overweight and obesity. However, to design effective policies, it is important to understand why people make unhealthy dietary choices. Research from behavioural economics suggests a critical role for time discounting, which describes how people's value of a reward, such as better health, decreases with delay to its receipt. We systematically reviewed the literature on the relationship of time discounting with unhealthy diets, overweight and obesity in Web of Science and PubMed. We identified 41 studies that met our inclusion criteria as they examined the association between time discount rates and (i) unhealthy food consumption; (ii) overweight and (iii) response to dietary and weight loss interventions. Nineteen out of 25 cross-sectional studies found time discount rates positively associated with overweight, obesity and unhealthy diets. Experimental studies indicated that lower time discounting was associated with greater weight loss. Findings varied by how time discount rates were measured; stronger results were observed for food than monetary-based measurements. Network co-citation analysis revealed a concentration of research in nutrition journals. Overall, there is moderate evidence that high time discounting is a significant risk factor for unhealthy diets, overweight and obesity and may serve as an important target for intervention. © 2016 The Authors Obesity Reviews published by John Wiley & Sons Ltd on behalf of International Association for the Study of Obesity (IASO). © 2016 The Authors Obesity Reviews published by John Wiley & Sons Ltd on behalf of International Association for the Study of Obesity (IASO).

Solar-generated steam for oil recovery: Reservoir simulation, economic analysis, and life cycle assessment

International Nuclear Information System (INIS)

Sandler, Joel; Fowler, Garrett; Cheng, Kris; Kovscek, Anthony R.

2014-01-01

Highlights: • Integrated assessment of solar thermal enhanced oil recovery (TEOR). • Analyses of reservoir performance, economics, and life cycle factors. • High solar fraction scenarios show economic viability for TEOR. • Continuous variable-rate steam injection meets the benchmarks set by conventional steam flood. - Abstract: The viability of solar thermal steam generation for thermal enhanced oil recovery (TEOR) in heavy-oil sands was evaluated using San Joaquin Valley, CA data. The effectiveness of solar TEOR was quantified through reservoir simulation, economic analysis, and life-cycle assessment. Reservoir simulations with continuous but variable rate steam injection were compared with a base-case Tulare Sand steamflood project. For equivalent average injection rates, comparable breakthrough times and recovery factors of 65% of the original oil in place were predicted, in agreement with simulations in the literature. Daily cyclic fluctuations in steam injection rate do not greatly impact recovery. Oil production rates do, however, show seasonal variation. Economic viability was established using historical prices and injection/production volumes from the Kern River oil field. For comparison, this model assumes that present day steam generation technologies were implemented at TEOR startup in 1980. All natural gas cogeneration and 100% solar fraction scenarios had the largest and nearly equal net present values (NPV) of $12.54 B and $12.55 B, respectively. Solar fraction refers to the steam provided by solar steam generation. Given its large capital cost, the 100% solar case shows the greatest sensitivity to discount rate and no sensitivity to natural gas price. Because there are very little emissions associated with day-to-day operations from the solar thermal system, life-cycle emissions are significantly lower than conventional systems even when the embodied energy of the structure is considered. We estimate that less than 1 g of CO 2 /MJ of refined

77 FR 1743 - Discount Rates for Cost-Effectiveness Analysis of Federal Programs

Science.gov (United States)

2012-01-11

... OFFICE OF MANAGEMENT AND BUDGET Discount Rates for Cost-Effectiveness Analysis of Federal Programs... Appendix C are to be used for cost-effectiveness analysis, including lease-purchase analysis, as specified... (Revised December 2011) Discount Rates for Cost-Effectiveness, Lease Purchase, and Related Analyses...

76 FR 7881 - Discount Rates for Cost-Effectiveness Analysis of Federal Programs

Science.gov (United States)

2011-02-11

... OFFICE OF MANAGEMENT AND BUDGET Discount Rates for Cost-Effectiveness Analysis of Federal Programs... Appendix C are to be used for cost-effectiveness analysis, including lease-purchase analysis, as specified... (Revised December 2010) DISCOUNT RATES FOR COST-EFFECTIVENESS, LEASE PURCHASE, AND RELATED ANALYSES...

Cash Flow and Discount Rate Risk in Up and Down Markets: What is actually priced?

NARCIS (Netherlands)

Botshekan, M.; Kraeussl, R.G.W.; Lucas, A.

2012-01-01

We test whether asymmetric preferences for losses versus gains affect the prices of cash flow versus discount rate risk. We construct a return decomposition distinguishing cash flow and discount rate betas in up and down markets. Using U.S. data, we find that downside cash flow and discount rate

Intertemporal Decision Making After Brain Injury: Amount-Dependent Steeper Discounting after Frontal Cortex Damage

Directory of Open Access Journals (Sweden)

Białaszek Wojciech

2017-12-01

Full Text Available Traumatic brain injuries to the frontal lobes are associated with many maladaptive forms of behavior. We investigated the association between brain damage and impulsivity, as measured by the rate of delay discounting (i.e., the extent to which future outcomes are devalued in time. The main aim of this study was to test the hypothesis of steeper discounting of different amounts in a group of patients with frontal lobe damage. We used a delay discounting task in the form of a structured interview. A total of 117 participants were divided into five groups: three neurological groups and two groups without brain damage. Our analyses showed that patients with focal damage to the frontal lobes demonstrated steeper delay discounting than other participants. Other clinical groups demonstrated similar discounting rates. The data pattern related to the magnitude effect on the group level suggested that the magnitude effect is absent in the group of patients with damage to the frontal lobes; however, results were less consistent on an individual level. Amount-dependent discounting was observed in only two groups, the healthy control group and the neurological group with other cortical areas damaged.

An Examination of The Transdiagnostic Role of Delay Discounting in Psychological Inflexibility and Mental Health Problems

OpenAIRE

Levin, Michael; Haeger, Jack; Ong, Clarissa W.; Twohig, Michael P.

2018-01-01

Delay discounting is a basic behavioral process that has been found to predict addictive behaviors, and more recently, other mental health problems. Acceptance and Commitment Therapy (ACT), is a transdiagnostic treatment that appears to alter delay discounting, possibly through reducing psychological inflexibility. The current study sought to further bridge research on delay discounting and ACT by examining the relation of delay discounting to a broad range of selfreported mental health probl...

Life Insurance and Annuity Demand under Hyperbolic Discounting

Directory of Open Access Journals (Sweden)

Siqi Tang

2018-04-01

Full Text Available In this paper, we analyse and construct a lifetime utility maximisation model with hyperbolic discounting. Within the model, a number of assumptions are made: complete markets, actuarially fair life insurance/annuity is available, and investors have time-dependent preferences. Time dependent preferences are in contrast to the usual case of constant preferences (exponential discounting. We find: (1 investors (realistically demand more life insurance after retirement (in contrast to the standard model, which showed strong demand for life annuities, and annuities are rarely purchased; (2 optimal consumption paths exhibit a humped shape (which is usually only found in incomplete markets under the assumptions of the standard model.

Money earlier or later? Simple heuristics explain intertemporal choices better than delay discounting does.

Science.gov (United States)

Ericson, Keith M Marzilli; White, John Myles; Laibson, David; Cohen, Jonathan D

2015-06-01

Heuristic models have been proposed for many domains involving choice. We conducted an out-of-sample, cross-validated comparison of heuristic models of intertemporal choice (which can account for many of the known intertemporal choice anomalies) and discounting models. Heuristic models outperformed traditional utility-discounting models, including models of exponential and hyperbolic discounting. The best-performing models predicted choices by using a weighted average of absolute differences and relative percentage differences of the attributes of the goods in a choice set. We concluded that heuristic models explain time-money trade-off choices in experiments better than do utility-discounting models. © The Author(s) 2015.

Money Earlier or Later? Simple Heuristics Explain Intertemporal Choices Better than Delay Discounting1

Science.gov (United States)

Marzilli Ericson, Keith M.; White, John Myles; Laibson, David; Cohen, Jonathan D.

2015-01-01

Heuristic models have been proposed for many domains of choice. We compare heuristic models of intertemporal choice, which can account for many of the known intertemporal choice anomalies, to discounting models. We conduct an out-of-sample, cross-validated comparison of intertemporal choice models. Heuristic models outperform traditional utility discounting models, including models of exponential and hyperbolic discounting. The best performing models predict choices by using a weighted average of absolute differences and relative (percentage) differences of the attributes of the goods in a choice set. We conclude that heuristic models explain time-money tradeoff choices in experiments better than utility discounting models. PMID:25911124

Gender-Specific Effects of Cognitive Load on Social Discounting.

Science.gov (United States)

Strombach, Tina; Margittai, Zsofia; Gorczyca, Barbara; Kalenscher, Tobias

2016-01-01

We live busy, social lives, and meeting the challenges of our complex environments puts strain on our cognitive systems. However, cognitive resources are limited. It is unclear how cognitive load affects social decision making. Previous findings on the effects of cognitive load on other-regarding preferences have been ambiguous, allowing no coherent opinion whether cognitive load increases, decreases or does not affect prosocial considerations. Here, we suggest that social distance between individuals modulates whether generosity towards a recipient increases or decreases under cognitive load conditions. Participants played a financial social discounting task with several recipients at variable social distance levels. In this task, they could choose between generous alternatives, yielding medium financial rewards for the participant and recipient at variable social distances, or between a selfish alternative, yielding larger rewards for the participant alone. We show that the social discount function of male participants was significantly flattened under high cognitive load conditions, suggesting they distinguished less between socially close and socially distant recipients. Unexpectedly, the cognitive-load effect on social discounting was gender-specific: while social discounting was strongly dependent on cognitive load in men, women were nearly unaffected by cognitive load manipulations. We suggest that cognitive load leads men, but not women to simplify the decision problem by neglecting the social distance information. We consider our study a good starting point for further experiments exploring the role of gender in prosocial choice.

78 FR 6140 - Discount Rates for Cost-Effectiveness Analysis of Federal Programs

Science.gov (United States)

2013-01-29

... OFFICE OF MANAGEMENT AND BUDGET Discount Rates for Cost-Effectiveness Analysis of Federal Programs... in Appendix C are to be used for cost-effectiveness analysis, including lease-purchase analysis, as...) Discount Rates for Cost-Effectiveness, Lease Purchase, and Related Analyses Effective Dates. This appendix...

Discount rates for social cost benefit analysis of nuclear energy

International Nuclear Information System (INIS)

Owen, P.A.

1978-01-01

The question that this paper addresses is how decisions affecting many citizens should be made when there are uncertain outcomes in the distant future. By distant is meant beyond the lifetimes of individuals alive now. Thus the proposed methodology would apply to many decisions in nuclear energy from the investment in new energy sources such as fusion, to the long-term storage of wastes. Decisions of this type have usually been analyzed using cost benefit analysis. In this case, future outcomes are discounted at the so-called social discount rate. By comparison, the proposed methodology uses information on individual citizen's preferences and willingness to pay to make a future generation better off. The connection between the proposed approach and more traditional discounting techniques is examined using the government decision about storing helium for the future as an example

Error Discounting in Probabilistic Category Learning

Science.gov (United States)

Craig, Stewart; Lewandowsky, Stephan; Little, Daniel R.

2011-01-01

The assumption in some current theories of probabilistic categorization is that people gradually attenuate their learning in response to unavoidable error. However, existing evidence for this error discounting is sparse and open to alternative interpretations. We report 2 probabilistic-categorization experiments in which we investigated error…

Solar '95: Proceedings of the 20. national passive solar conference. Volume 20

International Nuclear Information System (INIS)

Campbell-Howe, R.; Wilkins-Crowder, B.

1995-01-01

This book contains the proceedings of the 20th National Passive Solar Conference, 1995, of the American Solar Energy Society. The topics of the papers include historical aspects of solar energy, daylighting, examination of passive system designs, sustainability concepts, building components, building design, application of solar architecture, case studies, education, and design tools

Escaping the repugnant conclusion: rank-discounted utilitarianism with variable population

OpenAIRE

Asheim, Geir Bjarne; Zuber, Stéphane

2014-01-01

We contribute to population ethics by proposing and axiomatizing rank-discounted critical-level generalized utilitarianism (RDCLU). Population ethics is needed for evaluation of policies, e.g., concerning climate change, where population size depends on the chosen policy. We show that critical-level generalized utilitarianism and (a version of) critical-level leximin are the limits of RDCLU for extreme values of the rank utility discount factor. Moreover, we establish how RDCLU avoids serious...

Is there time discounting for risk premium?

Science.gov (United States)

Shavit, Tal; Rosenboim, Mosi

2015-03-01

Individuals with a higher subjective discount rate concentrate more on the present and delay is more significant for them. However, when a risky asset is delayed, not only is the outcome delayed but also the risk. In this paper, we suggest a new, two-stage experimental method with real monetary incentives that allows us to distinguish between the effect of the risk and the effect of the time when pricing a risky asset. We show that when individuals have greater preference for the present, their risk aversion for a risky asset realized in the future decreases. We argue that the effect of the risk for future asset is lower for individuals with higher time preference because they discount not only the outcome but also the risks. © Society for the Experimental Analysis of Behavior.

The meanings of discounts in contemporary art markets: the case of India

NARCIS (Netherlands)

Komarova, N.

2015-01-01

Although discounts in art markets are commonplace, the phenomenon remains largely unresearched. This paper looks at how art market actors understand the functions of discounts, focusing on ‘suppliers’ of the market and drawing on qualitative interviews with artists and art dealers from New Delhi and

Delay Discounting of Video Game Players: Comparison of Time Duration Among Gamers.

Science.gov (United States)

Buono, Frank D; Sprong, Matthew E; Lloyd, Daniel P; Cutter, Christopher J; Printz, Destiny M B; Sullivan, Ryan M; Moore, Brent A

2017-02-01

Video game addiction or Internet game disorder, as proposed by the DSM-5 (Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition), has similar criterion characteristics to other impulse control disorders. There is limited research examining video game addiction within a behavioral economic framework using delay discounting. The current study evaluated delay-discounting patterns of money and video game play by usual weekly hours of video game play. A total of 104 participants were split into 1 of 3 groups of video game players (low, medium, and high) and were asked to complete a monetary and video game discounting procedure through an online survey. Results showed significant differences between groups within both the monetary (p = 0.003) and video game discounting procedures (p = 0.004). Additionally, a positive linear relationship was noted between the groups across both procedures. The results of the current article reinforce previous findings that more hours of video game use are associated with greater impulsivity and provide implications for future research.

Reviewing and piloting methods for decreasing discount rates; someone, somewhere in time.

Science.gov (United States)

Parouty, Mehraj B Y; Krooshof, Daan G M; Westra, Tjalke A; Pechlivanoglou, Petros; Postma, Maarten J

2013-08-01

There has been substantial debate on the need for decreasing discounting for monetary and health gains in economic evaluations. Next to the discussion on differential discounting, a way to identify the need for such discounting strategies is through eliciting the time preferences for monetary and health outcomes. In this article, the authors investigate the perceived time preference for money and health gains through a pilot survey on Dutch university students using methods on functional forms previously suggested. Formal objectives of the study were to review such existing methods and to pilot them on a convenience sample using a questionnaire designed for this specific purpose. Indeed, a negative relation between the time of delay and the variance of the discounting rate for all models was observed. This study was intended as a pilot for a large-scale population-based investigation using the findings from this pilot on wording of the questionnaire, interpretation, scope and analytic framework.

31 CFR 356.21 - How are awards at the high yield or discount rate calculated?

Science.gov (United States)

2010-07-01

... discount rate calculated? 356.21 Section 356.21 Money and Finance: Treasury Regulations Relating to Money... high yield or discount rate calculated? (a) Awards to submitters. We generally prorate bids at the highest accepted yield or discount rate under § 356.20(a)(2) of this part. For example, if 80.15% is the...

Skiba points for small discount rates

NARCIS (Netherlands)

Wagener, F.O.O.

2006-01-01

The present article uses perturbation techniques to approximate the value function of an economic minimization problem for small values of the discount rate. This can be used to obtain the approximate location of the Skiba states in the problem; these are states for which there are two distinct

Discounting and the social cost of carbon: A closer look at uncertainty

NARCIS (Netherlands)

Guo, J.K.; Hepburn, C.; Tol, R.S.J.; Anthoff, D.

2006-01-01

Recently, in the economics literature, several papers have put forward arguments for using a declining discount rate in social-cost benefit analysis. This paper examines the impact of employing a declining discount rate on the social cost of carbon-the marginal social damage from a ton of emitted

Focus on the future: Episodic future thinking reduces discount rate and snacking.

Science.gov (United States)

Dassen, Fania C M; Jansen, Anita; Nederkoorn, Chantal; Houben, Katrijn

2016-01-01

Obesity seems related to a preference for immediate gratification. By changing this focus on short term benefits to a more future-oriented outlook, delay discounting (impulsive decision making) can be changed by a manipulation of episodic future thinking (EFT). EFT comprises a vivid mental simulation of general future experiences. EFT may also affect consumption of unhealthy foods, which can be seen as a choice for immediate gratification. Recent research shows that future orientation should be tailored to the behavior at outcome. We therefore hypothesize that the effectiveness of EFT on food intake could be enhanced by making the content food-related. We conducted a 2 (future vs past thinking) by 2 (food vs non-food related thoughts) between-subject design experiment in female undergraduates (N = 94), to compare the efficacy of EFT versus the recalling of episodic past events in reducing discount rate and caloric intake. Content of imagery was either unrestricted or food-related. Participants engaged in EFT or control episodic imagery while snacks were offered to freely consume, and next the Monetary Choice Questionnaire was completed as a measure of delay discounting, while again being engaged in EFT or control imagery. Both types of EFT reduced delay discounting, however, only food-related EFT lead to more restricted caloric consumption. Thus, we found evidence that EFT reduced discount rate during decision making. However, in order to restrict caloric intake, EFT should entail food-related imagery. As discount rate and caloric intake were not related in the current sample, the underlying mechanism remains to be discovered. Results however suggest that EFT is a promising technique to resist immediate gratification. Copyright © 2015 Elsevier Ltd. All rights reserved.

High temporal discounters overvalue immediate rewards rather than undervalue future rewards: an event-related brain potential study.

Science.gov (United States)

Cherniawsky, Avital S; Holroyd, Clay B

2013-03-01

Impulsivity is characterized in part by heightened sensitivity to immediate relative to future rewards. Although previous research has suggested that "high discounters" in intertemporal choice tasks tend to prefer immediate over future rewards because they devalue the latter, it remains possible that they instead overvalue immediate rewards. To investigate this question, we recorded the reward positivity, a component of the event-related brain potential (ERP) associated with reward processing, with participants engaged in a task in which they received both immediate and future rewards and nonrewards. The participants also completed a temporal discounting task without ERP recording. We found that immediate but not future rewards elicited the reward positivity. High discounters also produced larger reward positivities to immediate rewards than did low discounters, indicating that high discounters relatively overvalued immediate rewards. These findings suggest that high discounters may be more motivated than low discounters to work for monetary rewards, irrespective of the time of arrival of the incentives.

Delay discounting of food by rhesus monkeys: Cocaine and food choice in isomorphic and allomorphic situations.

Science.gov (United States)

Huskinson, Sally L; Woolverton, William L; Green, Leonard; Myerson, Joel; Freeman, Kevin B

2015-06-01

Research on delay discounting has focused largely on nondrug reinforcers in an isomorphic context in which choice is between alternatives that involve the same type of reinforcer. Less often, delay discounting has been studied with drug reinforcers in a more ecologically valid allomorphic context where choice is between alternatives involving different types of reinforcers. The present experiment is the first to examine discounting of drug and nondrug reinforcers in both isomorphic and allomorphic situations using a theoretical model (i.e., the hyperbolic discounting function) that allows for comparisons of discounting rates between reinforcer types and amounts. The goal of the current experiment was to examine discounting of a delayed, nondrug reinforcer (food) by male rhesus monkeys when the immediate alternative was either food (isomorphic situation) or cocaine (allomorphic situation). In addition, we sought to determine whether there was a magnitude effect with delayed food in the allomorphic situation. Choice of immediate food and immediate cocaine increased with amount and dose, respectively. Choice functions for immediate food and cocaine generally shifted leftward as delay increased. Compared to isomorphic situations in which food was the immediate alternative, delayed food was discounted more steeply in allomorphic situations where cocaine was the immediate alternative. Notably, discounting was not affected by the magnitude of the delayed reinforcer. These data indicate that how steeply a delayed nondrug reinforcer is discounted may depend more on the qualitative characteristics of the immediate reinforcer and less on the magnitude of the delayed one. (c) 2015 APA, all rights reserved).

A random utility model of delay discounting and its application to people with externalizing psychopathology.

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Dai, Junyi; Gunn, Rachel L; Gerst, Kyle R; Busemeyer, Jerome R; Finn, Peter R

2016-10-01

Previous studies have demonstrated that working memory capacity plays a central role in delay discounting in people with externalizing psychopathology. These studies used a hyperbolic discounting model, and its single parameter-a measure of delay discounting-was estimated using the standard method of searching for indifference points between intertemporal options. However, there are several problems with this approach. First, the deterministic perspective on delay discounting underlying the indifference point method might be inappropriate. Second, the estimation procedure using the R2 measure often leads to poor model fit. Third, when parameters are estimated using indifference points only, much of the information collected in a delay discounting decision task is wasted. To overcome these problems, this article proposes a random utility model of delay discounting. The proposed model has 2 parameters, 1 for delay discounting and 1 for choice variability. It was fit to choice data obtained from a recently published data set using both maximum-likelihood and Bayesian parameter estimation. As in previous studies, the delay discounting parameter was significantly associated with both externalizing problems and working memory capacity. Furthermore, choice variability was also found to be significantly associated with both variables. This finding suggests that randomness in decisions may be a mechanism by which externalizing problems and low working memory capacity are associated with poor decision making. The random utility model thus has the advantage of disclosing the role of choice variability, which had been masked by the traditional deterministic model. (PsycINFO Database Record (c) 2016 APA, all rights reserved).

Exploratory study on the effect of discount pricing strategies for new product introduction

Science.gov (United States)

Mat Zaib, Nurul Afiqah; Bazin, Nor Erne Nazira; Mustaffa, Noorfa Haszlinna

2013-04-01

Rapid introduction of new product into the market has resulted in growing competition between retailers. Nowadays, retailers compete with one another in order to increase revenue and to maintain their position in the marketplace. This situation has forced the retailers to enhance their strategic management as well as creating competitive advantages. Generally, this situation can be observed in highly demanded product such as fashion goods and high technology electronic devices (smart phone, notebook). The consequence from the intense competition and new product introduction is difficulties in retailers pricing management. Retailers are now facing with complexity in making decisions on suitable pricing strategies and discount level for new product in association with the product life cycle. Thus, this research aims to investigate the suitable discount pricing strategies that can be integrated in every phase of product life cycle. This paper presents relationships between the discount pricing and the stages in the product life cycle in the form of conceptual diagram and mathematical expression. A system dynamic approach is used for developing the conceptual diagram and formulating the mathematical expression for the discount pricing strategies to visualize the relationship between discount pricing and product life cycle.

Using 340B drug discounts to provide a financially sustainable medication discharge service.

Science.gov (United States)

Wu, Timothy; Williams, Carla; Vranek, Kathryn; Mattingly, T Joseph

2018-03-27

The 340B Drug Pricing Program was intended to stretch federal resources by providing significant discounts to covered entities providing care to underserved populations. Program implementation and evidence of expanding services to higher income patients has brought more scrutiny and calls for elimination of the program. While additional review and reform may be warranted, profitability from 340B discounts enables covered entities to provide additional services that may not be feasible in absence of the program. This case report demonstrates one institution's use of 340B discounts to financially justify providing bedside medication delivery services for patients at the time of discharge from an inpatient admission. A simple financial model was developed using hospital data and inputs from available literature to estimate gross profit and earnings before interest, taxes, depreciation, and amortization (EBITDA) with and without 340B discounts. Without the 340B drug price discounts, the service would operate at a financial loss, and further investigation must be done to determine whether other clinical or economic benefits would warrant discharge medication delivery at the institution. Copyright © 2018 The Authors. Published by Elsevier Inc. All rights reserved.

Determining a Relationship between Higher Education Financial Position and Tuition Discount Rates

Science.gov (United States)

Browning, Julianna

2013-01-01

Institutions have increased the practice of tuition discounting, that is, the strategic use of price discrimination. During the past 30 years, both the average percent discount given to students and the proportion of students receiving tuition breaks have increased. As this practice has increased, there are financial determinants and implications…

Investigation of the existing methodology of value estimation and methods of discount rate estimation

OpenAIRE

Plikus, Iryna

2017-01-01

The subject of research is the current practice of determining the fair value of assets and liabilities at the present (discounted) cost. One of the most problematic places is the determination of the discount rate, which belongs to the jurisdiction of a professional accountant judgment.The methods of formalization, hypothetical assumption, system approach and scientific abstraction in substantiating the formation of accounting policy with respect to the choice of the discount rate are used i...

In-gap discounts in Medicare Part D and specialty drug use.

Science.gov (United States)

Jung, Jeah; Xu, Wendy Yi; Cheong, Chelim

2017-09-01

Specialty drugs can bring significant benefits to patients, but they can be expensive. Medicare Part D plans charge relatively high cost-sharing costs for specialty drugs. A provision in the Affordable Care Act reduced cost sharing in the Part D coverage gap phase in an attempt to mitigate the financial burden of beneficiaries with high drug spending. We examined the early impact of the Part D in-gap discount on specialty cancer drug use and patients' out-of-pocket (OOP) spending. Natural experimental design. We compared changes in outcomes before and after the in-gap discount among beneficiaries with and without low-income subsidies (LIS). Beneficiaries with LIS, who were not affected by the in-gap discount, made up the control group. We studied a random sample of elderly standalone prescription drug plan enrollees with relatively uncommon cancers (eg, leukemia, skin, pancreas, kidney, sarcomas, and non-Hodgkin lymphoma) between 2009 and 2013. We constructed 4 outcome variables annually: 1) use of any specialty cancer drug, 2) the number of specialty cancer drug fills, 3) total specialty drug spending, and 4) OOP spending for specialty cancer drugs. The in-gap discount did not influence specialty cancer drug use, but reduced annual OOP spending for specialty cancer drugs among users without LIS by $1108. In-gap discounts in Part D decreased patients' financial burden to some extent, but resulted in no change in specialty drug use. As demand for specialty drugs increases, it will be important to ensure patients' access to needed drugs, while simultaneously reducing their financial burden.

Economic rate of discount and estimating cost benefit of viral immunisation programmes.

Science.gov (United States)

West, R R

1999-01-01

Many individual and societal decisions over purchase (or investment) involve consideration of timing, in that either the price may be paid now and the benefit enjoyed some time in the future or the converse the benefit enjoyed now and the price paid later. Since most individuals generally prefer the present to the future, economic theory has conventionally discounted future costs or benefits to estimate 'net present values'. The rationale for this is principally based on future uncertainty. In recent years, economists have turned their attention to valuing health as an economic 'good'. Observations of individual behaviour would imply that individuals discount future health, as other potential benefits, mostly because there is some uncertainty about their futures. Although economic theory is strongly predicated on the 'sovereignty of the individual', it does not necessarily follow that society discounts the future as do individuals, since for society the future is not so uncertain. Society's endorsement of many public health and preventive medicine objectives, which seek health gains in the future (rather than the present), imply that society's rate of discount may be appreciably lower than that of individuals. In immunisation, arguably one of the most effective of preventive measures, there is the additional benefit to others attributable to herd immunity. This paper argues that the future health gains for society arising from immunisation should not be underestimated by application of inappropriate discounting.

Using crowdsourcing to compare temporal, social temporal, and probability discounting among obese and non-obese individuals.

Science.gov (United States)

Bickel, Warren K; George Wilson, A; Franck, Christopher T; Terry Mueller, E; Jarmolowicz, David P; Koffarnus, Mikhail N; Fede, Samantha J

2014-04-01

Previous research comparing obese and non-obese samples on the delayed discounting procedure has produced mixed results. The aim of the current study was to clarify these discrepant findings by comparing a variety of temporal discounting measures in a large sample of internet users (n=1163) obtained from a crowdsourcing service, Amazon Mechanical Turk (AMT). Measures of temporal, social-temporal (a combination of standard and social temporal), and probability discounting were obtained. Significant differences were obtained on all discounting measures except probability discounting, but the obtained effect sizes were small. These data suggest that larger-N studies will be more likely to detect differences between obese and non-obese samples, and may afford the opportunity, in future studies, to decompose a large obese sample into different subgroups to examine the effect of other relevant measures, such as the reinforcing value of food, on discounting. Copyright © 2013 Elsevier Ltd. All rights reserved.

Discount Rate and Timber Rotation: the Case of Eucalyptus Saligna

OpenAIRE

Camilo Restrepo; Mauricio Alviar

2010-01-01

Eucalyptus is one of the most important economical and environmental species in Colombia. The main goal of this article is to study the relationship between the discount rate and the year of Eucalyptus Saligna optimal harvest, through the Fisher and Hotelling’s method. The methodology consists of calculating the maximum Net Present Value and performing a sensitivity analysis between the year of harvest and the discount rate. The area of study is located in the eastern region of the state of A...

Temporal Discounting Is Associated with an Increased Risk of Mortality among Community-Based Older Persons without Dementia.

Directory of Open Access Journals (Sweden)

Patricia A Boyle

Full Text Available Temporal discounting is an important determinant of many health and financial outcomes, but we are not aware of studies that have examined the association of temporal discounting with mortality.Participants were 406 older persons without dementia from the Rush Memory and Aging Project, a longitudinal cohort study of aging. Temporal discounting was measured using standard preference elicitation questions. Individual discount rates were estimated using a well-established hyperbolic function and used to predict the risk of mortality during up to 5 years of follow-up.The mean estimate of discounting was 0.45 (SD = 0.33, range: 0.08-0.90, with higher scores indicating a greater propensity to prefer smaller immediate rewards over larger but delayed ones. During up to 5 years of follow-up (mean = 3.6 years, 62 (15% of 406 persons died. In a proportional hazards model adjusted for age, sex, and education, temporal discounting was associated with an increased risk of mortality (HR = 1.103, 95% CI 1.024, 1.190, p = 0.010. Thus, a person with the highest discount rate (score = 0.90 was about twice more likely to die over the study period compared to a person with the lowest discount rate (score = 0.08. Further, the association of discounting with mortality persisted after adjustment for the level of global cognitive function, the burden of vascular risk factors and diseases, and an indicator of psychological well being (i.e., purpose in life.Temporal discounting is associated with an increased risk of mortality in old age after accounting for global cognitive function and indicators of physical and mental health.

An alternative approach to calculating Area-Under-the-Curve (AUC) in delay discounting research.

Science.gov (United States)

Borges, Allison M; Kuang, Jinyi; Milhorn, Hannah; Yi, Richard

2016-09-01

Applied to delay discounting data, Area-Under-the-Curve (AUC) provides an atheoretical index of the rate of delay discounting. The conventional method of calculating AUC, by summing the areas of the trapezoids formed by successive delay-indifference point pairings, does not account for the fact that most delay discounting tasks scale delay pseudoexponentially, that is, time intervals between delays typically get larger as delays get longer. This results in a disproportionate contribution of indifference points at long delays to the total AUC, with minimal contribution from indifference points at short delays. We propose two modifications that correct for this imbalance via a base-10 logarithmic transformation and an ordinal scaling transformation of delays. These newly proposed indices of discounting, AUClog d and AUCor d, address the limitation of AUC while preserving a primary strength (remaining atheoretical). Re-examination of previously published data provides empirical support for both AUClog d and AUCor d . Thus, we believe theoretical and empirical arguments favor these methods as the preferred atheoretical indices of delay discounting. © 2016 Society for the Experimental Analysis of Behavior.

Discounting of money and sex: effects of commodity and temporal position in stimulant-dependent men and women.

Science.gov (United States)

Jarmolowicz, David P; Landes, Reid D; Christensen, Darren R; Jones, Bryan A; Jackson, Lisa; Yi, Richard; Bickel, Warren K

2014-11-01

Research on delay discounting has contributed to the understanding of numerous addiction-related phenomena. For example, studies have shown that substance dependent individuals discount their addictive substances (e.g., cocaine) more rapidly than they do other commodities (e.g., money). Recent research has shown that substance dependent individuals discount delayed sex more rapidly than delayed money, and their discounting rates for delayed sex were higher than those of non-addicted individuals. The particular reason that delay discounting rates for sex are higher than those for money, however, are unclear. Do individuals discount delayed sex rapidly because immediate sex is particularly appealing or because delayed sex does not retain its value? Moreover, do the same factors influence men and women's choices? The current study examined delay discounting in four conditions (money now versus money later; sex now versus sex later; money now, versus sex later; sex now versus money later) in cocaine dependent men and women. The procedures used isolated the role of the immediate versus delayed commodity. For men, the higher rates of delay discounting for sex were because delayed sex did not retain its value, whereas both the immediate and delayed commodity influenced the female participants' decisions. Copyright © 2014 Elsevier Ltd. All rights reserved.

Retailer Stackelberg game in a supply chain with pricing and service decisions and simple price discount contract.

Science.gov (United States)

Sadjadi, Seyed Jafar; Asadi, Hashem; Sadeghian, Ramin; Sahebi, Hadi

2018-01-01

This paper studies the Retailer Stackelberg game in a supply chain consisting of two manufacturers and one retailer where they compete simultaneously under three factors including price, service and simple price discount contract. It is assumed that the second manufacturer provides service directly to his customers, and the retailer provides service for the first product's customers, while the retailer buys the first product under price discount from the first manufacturer. The analysis of the optimal equilibrium solutions and the results of the numerical examples show that if a manufacturer chooses the appropriate range of discount rate, he will gain more profit than when there is no discount given to the retailer. This situation can be considered as an effective tool for the coordination of the first manufacturer and the retailer to offer discount by manufacturer and to provide the service by the retailer. We obtain equilibrium solution of Retailer Stackelberg game and analyze the numerical examples under two cases: a) the manufacturers sell their products to the retailer without price discount contract. b) The first manufacturer sells his products to the retailer with the simple price discount contract. The preliminary results show that the service and the price discount contract can improve the performance of supply chain.

Retailer Stackelberg game in a supply chain with pricing and service decisions and simple price discount contract

Science.gov (United States)

Sadjadi, Seyed Jafar; Sadeghian, Ramin; Sahebi, Hadi

2018-01-01

This paper studies the Retailer Stackelberg game in a supply chain consisting of two manufacturers and one retailer where they compete simultaneously under three factors including price, service and simple price discount contract. It is assumed that the second manufacturer provides service directly to his customers, and the retailer provides service for the first product’s customers, while the retailer buys the first product under price discount from the first manufacturer. The analysis of the optimal equilibrium solutions and the results of the numerical examples show that if a manufacturer chooses the appropriate range of discount rate, he will gain more profit than when there is no discount given to the retailer. This situation can be considered as an effective tool for the coordination of the first manufacturer and the retailer to offer discount by manufacturer and to provide the service by the retailer. We obtain equilibrium solution of Retailer Stackelberg game and analyze the numerical examples under two cases: a) the manufacturers sell their products to the retailer without price discount contract. b) The first manufacturer sells his products to the retailer with the simple price discount contract. The preliminary results show that the service and the price discount contract can improve the performance of supply chain. PMID:29649315

Attention-deficit/hyperactivity disorder, delay discounting, and risky financial behaviors: A preliminary analysis of self-report data.

Science.gov (United States)

Beauchaine, Theodore P; Ben-David, Itzhak; Sela, Aner

2017-01-01

Delay discounting-often referred to as hyperbolic discounting in the financial literature-is defined by a consistent preference for smaller, immediate rewards over larger, delayed rewards, and by failure of future consequences to curtail current consummatory behaviors. Previous research demonstrates (1) excessive delay discounting among individuals with attention-deficit/hyperactivity disorder (ADHD), (2) common neural substrates of delay discounting and hyperactive-impulsive symptoms of ADHD, and (3) associations between delay discounting and both debt burden and high interest rate borrowing. This study extends prior research by examining associations between ADHD symptoms, delay discounting, and an array of previously unevaluated financial outcomes among 544 individuals (mean age 35 years). Controlling for age, income, sex, education, and substance use, ADHD symptoms were associated with delay discounting, late credit card payments, credit card balances, use of pawn services, personal debt, and employment histories (less time spent at more jobs). Consistent with neural models of reward processing and associative learning, more of these relations were attributable to hyperactive-impulsive symptoms than inattentive symptoms. Implications for financial decision-making and directions for future research are discussed.

Key Recovery Using Noised Secret Sharing with Discounts over Large Clouds

OpenAIRE

JAJODIA , Sushil; Litwin , Witold; Schwarz , Thomas

2013-01-01

Encryption key loss problem is the Achilles's heel of cryptography. Key escrow helps, but favors disclosures. Schemes for recoverable encryption keys through noised secret sharing alleviate the dilemma. Key owner escrows a specifically encrypted backup. The recovery needs a large cloud. Cloud cost, money trail should rarefy illegal attempts. We now propose noised secret sharing schemes supporting discounts. The recovery request with discount code lowers the recovery complexity, easily by orde...

Tobacco demand, delay discounting, and smoking topography among smokers with and without psychopathology.

Science.gov (United States)

Farris, Samantha G; Aston, Elizabeth R; Abrantes, Ana M; Zvolensky, Michael J

2017-10-01

Tobacco demand (i.e., relative value attributed to a given reinforcer) and delay discounting (i.e., relative preference for smaller immediate rewards over larger delayed rewards) are two behavioral economic processes that are linked to the progression of problematic substance use. These processes have not been studied among those with psychopathology, a vulnerable group of smokers. The current study examined differences in tobacco demand and delay discounting, and their association with smoking topography among smokers with (n=43) and without (n=64) past-year psychopathology. Adult daily smokers (n=107,M age =43.5; SD=9.7) participated in a study on "smoking behavior." Past-year psychological disorders were assessed via a clinician-administered diagnostic assessment. All subjects participated in an ad libitum smoking trial and then completed an assessment of delay discounting (Monetary Choice Questionnaire) and tobacco demand (Cigarette Purchase Task) approximately 45-60min post-smoking. Smokers with psychopathology, compared to those without, had significantly higher demand intensity and maximum expenditure on tobacco (O max ), but did not differ on other demand indices or delay discounting. Smokers with psychopathology had shorter average inter-puff intervals and shorter time to cigarette completion than smokers without psychopathology. Tobacco demand and delay discounting measures were significantly intercorrelated among smokers with psychopathology, but not those without. Both behavioral economic measures were associated with specific aspects of smoking topography in smokers with psychopathology. The association between tobacco demand and delay discounting is evident among smokers with psychopathology and both measures were most consistently related to smoking behavior. Copyright © 2017 Elsevier B.V. All rights reserved.

26 CFR 1.466-1 - Method of accounting for the redemption cost of qualified discount coupons.

Science.gov (United States)

2010-04-01

... the coupon. (2) Definitions—(i) Discount coupon. A discount coupon is a sales promotion device used to... 26 Internal Revenue 6 2010-04-01 2010-04-01 false Method of accounting for the redemption cost of qualified discount coupons. 1.466-1 Section 1.466-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF...

Estimating Discount Rates

Directory of Open Access Journals (Sweden)

Laurence Booth

2015-04-01

Full Text Available Discount rates are essential to applied finance, especially in setting prices for regulated utilities and valuing the liabilities of insurance companies and defined benefit pension plans. This paper reviews the basic building blocks for estimating discount rates. It also examines market risk premiums, as well as what constitutes a benchmark fair or required rate of return, in the aftermath of the financial crisis and the U.S. Federal Reserve’s bond-buying program. Some of the results are disconcerting. In Canada, utilities and pension regulators responded to the crash in different ways. Utilities regulators haven’t passed on the full impact of low interest rates, so that consumers face higher prices than they should whereas pension regulators have done the opposite, and forced some contributors to pay more. In both cases this is opposite to the desired effect of monetary policy which is to stimulate aggregate demand. A comprehensive survey of global finance professionals carried out last year provides some clues as to where adjustments are needed. In the U.S., the average equity market required return was estimated at 8.0 per cent; Canada’s is 7.40 per cent, due to the lower market risk premium and the lower risk-free rate. This paper adds a wealth of historic and survey data to conclude that the ideal base long-term interest rate used in risk premium models should be 4.0 per cent, producing an overall expected market return of 9-10.0 per cent. The same data indicate that allowed returns to utilities are currently too high, while the use of current bond yields in solvency valuations of pension plans and life insurers is unhelpful unless there is a realistic expectation that the plans will soon be terminated.

Is Every Smoker Interested in Price Promotions? An Evaluation of Price-Related Discounts by Cigarette Brands.

Science.gov (United States)

Xu, Xin; Wang, Xu; Caraballo, Ralph S

2016-01-01

Raising unit price is one of the most effective ways of reducing cigarette consumption. A large proportion of US adult smokers use generic brands or price discounts in response to higher prices, which may mitigate the public health impacts of raising unit price. The main purpose of this study was to evaluate the retail price impact and the determinants of price-related discount use among US adult smokers by their most commonly used cigarette brand types. Data from the 2009-2010 National Adult Tobacco Survey, a telephone survey of US adults 18 years or older, was used to assess price-related discount use by cigarette brands. Price-related discounts included coupons, rebates, buy 1 get 1 free, 2 for 1, or any other special promotions. Multivariate logistic regression was used to assess sociodemographic and tobacco use determinants of discount use by cigarette brands. Discount use was most common among premium brand users (22.1%), followed by generic (13.3%) and other brand (10.8%) users. Among premium brand users, those who smoked 10 to 20 cigarettes per day were more likely to use discounts, whereas elderly smokers, non-Hispanic blacks, those with greater annual household income, dual users of cigarettes and other combustible tobacco products, and those who had no quit intentions were less likely to do so. Among generic brand users, those who had no quit intentions and those who smoked first cigarette within 60 minutes after waking were more likely to use discounts. Frequent use of discounts varies between smokers of premium and generic cigarette brands. Setting a high minimum price, together with limiting the use of coupons and promotions, may uphold the effect of cigarette excise taxes to reduce smoking prevalence.

Discounting future health benefits: the poverty of consistency arguments.

Science.gov (United States)

Nord, Erik

2011-01-01

In economic evaluation of health care, main stream practice is to discount benefits at the same rate as costs. But main papers in which this practice is advocated have missed a distinction between two quite different evaluation problems: (1) How much does the time of program occurrence matter for value and (2) how much do delays in health benefits from programs implemented at a given time matter? The papers have furthermore focused on logical and arithmetic arguments rather than on real value considerations. These 'consistency arguments' are at best trivial, at worst logically flawed. At the end of the day, there is a sensible argument for equal discounting of costs and benefits rooted in microeconomic theory of rational, utility maximising consumers' saving behaviour. But even this argument is problematic, first because the model is not clearly supported by empirical observations of individuals' time preferences for health, second because it relates only to evaluation in terms of overall individual utility. It does not provide grounds for claiming that decision makers with a wider societal perspective, which may include concerns for fair distribution, need to discount Copyright © 2010 John Wiley & Sons, Ltd. 2010 John Wiley & Sons, Ltd.

Implicit discount rates of vascular surgeons in the management of abdominal aortic aneurysms.

Science.gov (United States)

Enemark, U; Lyttkens, C H; Troëng, T; Weibull, H; Ranstam, J

1998-01-01

A growing empirical literature has investigated attitudes towards discounting of health benefits with regard to social choices of life-saving and health-improving measures and individuals' time preferences for the management of their own health. In this study, the authors elicited the time preferences of vascular surgeons in the context of management of small abdominal aortic aneurysms, for which the choice between early elective surgery and watchful waiting is not straightforward. They interviewed 25 of a random sample of 30 Swedish vascular surgeons. Considerable variation in the time preferences was found in the choices between watchful waiting and surgical intervention among the otherwise very homogeneous group of surgeons. The discount rates derived ranged from 5.3% to 19.4%. The median discount rate (10.4%) is similar to those usually reported for social choices concerning life-saving measures. The surgeons who were employed in university hospitals had higher discount rates than did their colleagues in county and district hospitals.

Dynamical instabilities in a simple minority game with discounting

International Nuclear Information System (INIS)

Challet, D; De Martino, A; Marsili, M

2008-01-01

We explore the effect of discounting and experimentation in a simple model of interacting adaptive agents. Agents belong to either of two types and each has to decide whether to participate in a game or not, the game being profitable when there is an excess of players of the other type. We find the emergence of large fluctuations as a result of the onset of a dynamical instability which may arise discontinuously (increasing the discount factor) or continuously (decreasing the experimentation rate). The phase diagram is characterized in detail and noise amplification close to a bifurcation point is identified as the physical mechanism behind the instability. (letter)

Testing the Reliability of Delay Discounting of Ten Commodities Using the Fill-in-the-Blank Method

Science.gov (United States)

Weatherly, Jeffrey N.; Derenne, Adam; Terrell, Heather K.

2011-01-01

Several measures of delay discounting have been shown to be reliable over periods of up to 3 months. In the present study, 115 participants completed a fill-in-the-blank (FITB) delay-discounting task on sets of 5 different commodities, 12 weeks apart. Results showed that discounting rates were not well described by a hyperbolic function but were…

Method of levelized discounted costs applied in economic evaluation of nuclear power plant project

International Nuclear Information System (INIS)

Tian Li; Wang Yongqing; Liu Jingquan; Guo Jilin; Liu Wei

2000-01-01

The main methods of economic evaluation of bid which are in common use are introduced. The characteristics of levelized discounted cost method and its application are presented. The method of levelized discounted cost is applied to the cost calculation of a 200 MW nuclear heating reactor economic evaluation. The results indicate that the method of levelized discounted costs is simple, feasible and which is considered most suitable for the economic evaluation of various case. The method is suggested which is used in the national economic evaluation

Secretary Problems: Weights and Discounts

OpenAIRE

Babaioff, M.; Dinitz, M.; Gupta, A.; Immorlica, Nicole Simone; Talwar, K.

2009-01-01

textabstractThe classical secretary problem studies the problem of selecting online an element (a “secretary”) with maximum value in a randomly ordered sequence. The difficulty lies in the fact that an element must be either selected or discarded upon its arrival, and this decision is irrevocable. Constant-competitive algorithms are known for the classical secretary problems and several variants. We study the following two extensions of the secretary problem: In the discounted secretary probl...

Delay Discounting as an Index of Sustainable Behavior: Devaluation of Future Air Quality and Implications for Public Health.

Science.gov (United States)

Berry, Meredith S; Nickerson, Norma P; Odum, Amy L

2017-09-01

Poor air quality and resulting annual deaths represent significant public health concerns. Recently, rapid delay discounting (the devaluation of future outcomes) of air quality has been considered a potential barrier for engaging in long term, sustainable behaviors that might help to reduce emissions (e.g., reducing private car use, societal support for clean air initiatives). Delay discounting has been shown to be predictive of real world behavior outside of laboratory settings, and therefore may offer an important framework beyond traditional variables thought to measure sustainable behavior such as importance of an environmental issue, or environmental attitudes/values, although more research is needed in this area. We examined relations between discounting of air quality, respiratory health, and monetary gains and losses. We also examined, relations between discounting and self-reported importance of air quality and respiratory health, and nature relatedness. Results showed rapid delay discounting of all outcomes across the time frames assessed, and significant positive correlations between delay discounting of air quality, respiratory health, and monetary outcomes. Steeper discounting of monetary outcomes relative to air quality and respiratory health outcomes was observed in the context of gains; however, no differences in discounting were observed across losses of monetary, air quality, and respiratory health. Replicating the sign effect, monetary outcomes were discounted more steeply than monetary losses. Importance of air quality, respiratory health and nature relatedness were significantly and positively correlated with one another, but not with degree of delay discounting of any outcome, demonstrating the need for more comprehensive measures that predict pro-environmental behaviors that might benefit individuals and public health over time. These results add to our understanding of decision-making, and demonstrate alarming rates of delay discounting of

Attention-deficit/hyperactivity disorder, delay discounting, and risky financial behaviors: A preliminary analysis of self-report data.

Directory of Open Access Journals (Sweden)

Theodore P Beauchaine

Full Text Available Delay discounting-often referred to as hyperbolic discounting in the financial literature-is defined by a consistent preference for smaller, immediate rewards over larger, delayed rewards, and by failure of future consequences to curtail current consummatory behaviors. Previous research demonstrates (1 excessive delay discounting among individuals with attention-deficit/hyperactivity disorder (ADHD, (2 common neural substrates of delay discounting and hyperactive-impulsive symptoms of ADHD, and (3 associations between delay discounting and both debt burden and high interest rate borrowing. This study extends prior research by examining associations between ADHD symptoms, delay discounting, and an array of previously unevaluated financial outcomes among 544 individuals (mean age 35 years. Controlling for age, income, sex, education, and substance use, ADHD symptoms were associated with delay discounting, late credit card payments, credit card balances, use of pawn services, personal debt, and employment histories (less time spent at more jobs. Consistent with neural models of reward processing and associative learning, more of these relations were attributable to hyperactive-impulsive symptoms than inattentive symptoms. Implications for financial decision-making and directions for future research are discussed.

Individual differences in delay discounting under acute stress: the role of trait perceived stress

Directory of Open Access Journals (Sweden)

Karolina M. Lempert

2012-07-01

Full Text Available Delay discounting refers to the reduction of the value of a future reward as the delay to that reward increases. The rate at which individuals discount future rewards varies as a function of both individual and contextual differences, and high delay discounting rates have been linked with problematic behaviors, including drug abuse and gambling. The current study investigated the effects of acute anticipatory stress on delay discounting, while considering two important factors: individual perceptions of stress and whether the stressful situation is future-focused or present-focused. Half of the participants experienced acute stress by anticipating giving a videotaped speech. This stress was either future-oriented (speech about future job or present-oriented (speech about physical appearance. They then performed a delay discounting task, in which they chose between smaller, immediate rewards and larger, delayed rewards. Their scores on the Perceived Stress Scale were also collected. The way in which one appraises a stressful situation interacts with acute stress to influence choices; under stressful conditions, delay discounting rate was highest in individuals with low perceived stress and lowest for individuals with high perceived stress. This result might be related to individual variation in reward responsiveness under stress. Furthermore, the time orientation of the task interacted with its stressfulness to affect the individual’s propensity to choose immediate rewards. These findings add to our understanding of the intermediary factors between stress and decision making.

Coordinated Lot-sizing and Dynamic Prizing under a Supplier All-units Quantity Discount

Directory of Open Access Journals (Sweden)

Sandra Transchel

2008-05-01

Full Text Available We consider an economic order quantity model where the supplier offers an all-units quantity discount and a price sensitive customer demand. We compare a decentralized decision framework where selling price and replenishment policy are determined independently to simultaneous decision making. Constant and dynamic pricing are distinguished. We derive structural properties and develop algorithms that determine the optimal pricing and replenishment policy and show how quantity discounts not only influence the purchasing strategy but also the pricing policy. A sensitivity analysis indicates the impact of the fixed-holding cost ratio, the discount policy, and the customers' price sensitivity on the optimal decisions.

A Job with a Future? Delay Discounting, Magnitude Effects, and Domain Independence of Utility for Career Decisions.

Science.gov (United States)

Schoenfelder, Thomas E.; Hantula, Donald A.

2003-01-01

Seniors (n=20) assessed two job offers with differences in domain (salary/tasks), delay (career-long earnings), and magnitude (initial salary offer). Contrary to discounted utility theory, choices reflected nonconstant discount rates for future salary/tasks (delay effect), lower discount rates for salary/preferred tasks (magnitude effect), and a…

Assessing Discount Rate for a Project Financed Entirely with Equity Capital

Directory of Open Access Journals (Sweden)

Nicoleta Vintila

2007-09-01

Full Text Available Estimating discount rate for an investment project is one of the most challenging tasks incapital budgeting. In this paper we discuss different kind of models for cost of equity capital proposed infinance literature (static CAPM, conditional CAPM, APT, build-up model, focusing especially on advantagesand disadvantages of using each of them. In the final section, we estimate the discount rate fora certain project financed entirely with equity capital, using a version of build-up model.

Leveraging delay discounting for health: Can time delays influence food choice?

Science.gov (United States)

Appelhans, Bradley M; French, Simone A; Olinger, Tamara; Bogucki, Michael; Janssen, Imke; Avery-Mamer, Elizabeth F; Powell, Lisa M

2018-03-15

Delay discounting, the tendency to choose smaller immediate rewards over larger delayed rewards, is theorized to promote consumption of immediately rewarding but unhealthy foods at the expense of long-term weight maintenance and nutritional health. An untested implication of delay discounting models of decision-making is that selectively delaying access to less healthy foods may promote selection of healthier (immediately available) alternatives, even if they may be less desirable. The current study tested this hypothesis by measuring healthy versus regular vending machine snack purchasing before and during the implementation of a 25-s time delay on the delivery of regular snacks. Purchasing was also examined under a $0.25 discount on healthy snacks, a $0.25 tax on regular snacks, and the combination of both pricing interventions with the 25-s time delay. Across 32,019 vending sales from three separate vending locations, the 25-s time delay increased healthy snack purchasing from 40.1% to 42.5%, which was comparable to the impact of a $0.25 discount (43.0%). Combining the delay and the discount had a roughly additive effect (46.0%). However, the strongest effects were seen under the $0.25 tax on regular snacks (53.7%) and the combination of the delay and the tax (50.2%). Intervention effects varied substantially between vending locations. Importantly, time delays did not harm overall vending sales or revenue, which is relevant to the real-world feasibility of this intervention. More investigation is needed to better understand how the impact of time delays on food choice varies across populations, evaluate the effects of time delays on beverage vending choices, and extend this approach to food choices in contexts other than vending machines. ClinicalTrials.gov, NCT02359916. Copyright © 2018 Elsevier Ltd. All rights reserved.

1980 survey and evaluation of utility conservation, load management, and solar end-use projects. Volume 3: utility load management projects. Final report

Energy Technology Data Exchange (ETDEWEB)

1982-01-01

The results of the 1980 survey of electric utility-sponsored energy conservation, load management, and end-use solar energy conversion projects are described. The work is an expansion of a previous survey and evaluation and has been jointly sponsored by EPRI and DOE through the Oak Ridge National Laboratory. There are three volumes and a summary document. Each volume presents the results of an extensive survey to determine electric utility involvement in customer-side projects related to the particular technology (i.e., conservation, solar, or load management), selected descriptions of utility projects and results, and first-level technical and economic evaluations.

Hoarders Only Discount Consumables and are More Patient for Money

Directory of Open Access Journals (Sweden)

Brian Donald Vickers

2016-03-01

Full Text Available Individuals with hoarding disorder (HD excessively acquire and retain goods while also exhibiting characteristics of impulsivity and addiction. However, HD individuals do not always perform impulsively in experiments, they do not appear interested in money, and they exhibit many features of risk-aversion and future-planning. To examine impulsivity in HD, we compared validated community participants high and low in hoarding tendencies on questionnaire measures of hoarding and impulsivity as well as a standard experimental measure of impulsivity (intertemporal discounting that was modified to compare decisions about money, pens, and snacks. Common discounting effects were replicated. Compared to the low hoarding group, the high hoarding group was more impatient for consumables (pens and snacks but they were more patient for money. This increased patience for money in high hoarding individuals is in contrast to all other studies on discounting in disordered populations, but consistent with the phenomenology of HD. HD does not appear to be driven by a fundamental inability to wait, but rather a specific, potent desire for consumable rewards.

Hoarders Only Discount Consumables and Are More Patient for Money.

Science.gov (United States)

Vickers, Brian D; Preston, Stephanie D; Gonzalez, Richard; Angott, Andrea M

2016-01-01

Individuals with hoarding disorder (HD) excessively acquire and retain goods while also exhibiting characteristics of impulsivity and addiction. However, HD individuals do not always perform impulsively in experiments, they do not appear interested in money, and they exhibit many features of risk-aversion and future-planning. To examine impulsivity in HD, we compared validated community participants high and low in hoarding tendencies on questionnaire measures of hoarding and impulsivity as well as a standard experimental measure of impulsivity (intertemporal discounting) that was modified to compare decisions about money, pens, and snacks. Common discounting effects were replicated. Compared to the low hoarding group, the high hoarding group was more impatient for consumables (pens and snacks) but they were more patient for money. This increased patience for money in high hoarding individuals is in contrast to all other studies on discounting in disordered populations, but consistent with the phenomenology of HD. HD does not appear to be driven by a fundamental inability to wait, but rather a specific, potent desire for consumable rewards.

Discounting of Monetary Rewards That Are Both Delayed and Probabilistic: Delay and Probability Combine Multiplicatively, Not Additively

Science.gov (United States)

Vanderveldt, Ariana; Green, Leonard; Myerson, Joel

2015-01-01

The value of an outcome is affected both by the delay until its receipt (delay discounting) and by the likelihood of its receipt (probability discounting). Despite being well-described by the same hyperboloid function, delay and probability discounting involve fundamentally different processes, as revealed, for example, by the differential effects…

Discounting of quantity surveying fees in South Africa

African Journals Online (AJOL)

by clients have forced Quantity Surveying firms into competition with ... Furthermore, 43% of consulting engineering firms were discounting their fees at a rate of .... Quantity. Surveying services are also offered in the fields of dispute resolution,.

Comparative ranking of 0. 1-10 MW/sub e/ solar thermal electric power systems. Volume II. Supporting data. Final report

Energy Technology Data Exchange (ETDEWEB)

Thornton, J.P.; Brown, K.C.; Finegold, J.G.; Gresham, J.B.; Herlevich, F.A.; Kriz, T.A.

1980-07-01

This report is part of a two-volume set summarizing the results of a comparative ranking of generic solar thermal concepts designed specifically for electric power generation. The original objective of the study was to project the mid-1990 cost and performance of selected generic solar thermal electric power systems for utility applications and to rank these systems by criteria that reflect their future commercial acceptance. This study considered plants with rated capacities of 1-10 MW/sub e/, operating over a range of capacity factors from the no-storage case to 0.7 and above. Later, the study was extended to include systems with capacities from 0.1 to 1 MW/sub e/, a range that is attractive to industrial and other nonutility applications. Volume I summarizes the results for the full range of capacities from 0.1 to 1.0 MW/sub e/. Volume II presents data on the performance and cost and ranking methodology.

Effects of blood glucose on delay discounting, food intake and counterregulation in lean and obese men.

Science.gov (United States)

Klement, Johanna; Kubera, Britta; Eggeling, Jonas; Rädel, Christin; Wagner, Christin; Park, Soyoung Q; Peters, Achim

2018-03-01

Delay discounting as a measure of impulsivity has been shown to be higher in obesity with an association of increased food intake. Moreover, obese humans showed a higher wanting for high-calorie food than lean men when blood glucose concentrations were low. First studies linking blood glucose levels to delay discounting yielded mixed results. We hypothesized that obese people - in comparison to lean men - have a relative lack of energy, especially when blood glucose levels are low, that results in higher levels of delay discounting, food intake and hormonal counterregulation. We investigated 20 lean and 20 obese healthy young men in a single-blind balanced cross-over design. With a standardized glucose clamp technique, subjects underwent a hypoglycemic state in one condition and a euglycemic state in the control condition. Regularly, blood was sampled for assessment of hormonal status, and questionnaires were filled out to assess delay discounting and symptom awareness. After normalizing blood glucose concentrations, subjects were free to eat from a standardized test buffet, followed by a snack test. Delay discounting was higher in obese than in lean men throughout experiments (p  0.1). Furthermore, the discounting performance did not correlate with food intake from the test buffet or snack test (p > 0.3). As a response to hypoglycemia, hormonal counterregulation was pronounced in both weight groups (p  0.5). Our data suggest that augmented delay discounting is a robust feature in obesity that is not linked to glucose levels or actual food intake. With our systematically controlled approach, combining performance in delay discounting with regard to distinct blood glucose levels, different weight groups, counterregulatory behavior and food intake, our results imply that delay discounting is not susceptible to fluctuations of blood glucose and do not support the assumption that a low body's energy content leads to increased impulsivity. Further

Discounts at the Carlson Wagonlit travel agency

CERN Document Server

2008-01-01

The Carlson Wagonlit travel agency is offering exceptional discounts of up to 40% for bookings with M-Travel before 29 February 2008 and Helvetic Tours before 30 March 2008. For terms and conditions and further information please contact the CERN Carlson Wagonlit Travel office, Main Building (500), Tel. 72763.

Discounted Markov games : generalized policy iteration method

NARCIS (Netherlands)

Wal, van der J.

1978-01-01

In this paper, we consider two-person zero-sum discounted Markov games with finite state and action spaces. We show that the Newton-Raphson or policy iteration method as presented by Pollats-chek and Avi-Itzhak does not necessarily converge, contradicting a proof of Rao, Chandrasekaran, and Nair.

A Delay Discounting Model of Psychotherapy Termination

Science.gov (United States)

Swift, Joshua K.; Callahan, Jennifer L.

2009-01-01

Delay discounting (DD) procedures are emerging as an important new method for psychotherapy researchers. In this paper a framework for conceptualizing existing, seemingly discrepant, research findings on termination is introduced and new directions for research are described. To illustrate the value of a DD framework, the common psychotherapy…

Financial barriers to the use of solar-industrial-process heat

Energy Technology Data Exchange (ETDEWEB)

1981-03-01

Industry concerns about solar process heat, attitudes toward investment in solar process heat, and decision processes and factors are reported. Four cases were selected from among 30 potential solar process heat installations that had been carried through the design stage, and case was analyzed using discounted cash flow to determine what internal rate of return would be earned under current tax laws over 10 years. No case showed any significant rate of return from capital invested in the solar installation. Several possible changes in the cost of solar equipment, its tax treatment or methods of financing were tested through computer simulation. A heavy load of extra tax incentives can improve the return on an investment, but such action is not recommended because they are not found to induce adoption of solar process heat, and if they were effective, capital may be drawn away from applications such as conservation were the potential to improve the nation's energy dilemma is greater. Tax shelter financing through limited partnership may be available. (LEW)

An analysis of the influence of discount sales promotion in consumer buying intent and the moderating effects of attractiveness

Directory of Open Access Journals (Sweden)

Fernando de Oliveira Santini

2015-12-01

Full Text Available ABSTRACT The purpose of this paper is to analyze the influence of discount sales promotion in the purchase intention and the moderating effects of attractiveness in the relationship between intention to purchase a discounted product and the impulsiveness, hedonic perception and financial risk. Thus, an experiment involving 613 students was conducted. The hypotheses predicted that a product with discount promotion would relate positively with impulsivity, as well as with a hedonic perception about the good offered, and negatively with the perception of financial risk associated with the product offered with discount. A positive moderation was expected of the perceived attractiveness of the announced discount promotion on the intentions of behaviors. The results confirmed the hypothesis, indicating positive effects of impulsivity and hedonic perception by purchasing the discounted products, in addition to the negative link between the intention of purchasing discounted products and the perception of a financial risk. The moderating effects were not confirmed. Final considerations conclude the work.

Discounting of Condom-Protected Sex as a Measure of High Risk for Sexually Transmitted Infection Among College Students.

Science.gov (United States)

Collado, Anahí; Johnson, Patrick S; Loya, Jennifer M; Johnson, Matthew W; Yi, Richard

2017-10-01

The study examined sexual delay discounting, or the devaluation of condom-protected sex in the face of delay, as a risk factor for sexually transmitted infection (STI) among college students. Participants (143 females, 117 males) completed the sexual delay discounting task (Johnson & Bruner, 2012) and questionnaires of risky sexual behavior, risk perception, and knowledge. Participants exhibited steeper sexual delay discounting (above and beyond general likelihood of having unprotected sex) when partners were viewed as more desirable or less likely to have a STI, with males demonstrating greater sexual delay discounting than females across most conditions. Importantly, greater self-reported risky sexual behaviors were associated with higher rates of sexual delay discounting, but not with likelihood of using a condom in the absence of delay. These results provide support for considering sexual delay discounting, with particular emphasis on potential delays to condom use, as a risk factor for STI among college students.

Introducing Upfront Money Can Decrease Discounting in Intertemporal Choices with Losses.

Science.gov (United States)

Jiang, Cheng-Ming; Sun, Hong-Yue; Zheng, Sheng-Hua; Wang, Liang-Jun; Qin, Yu

2016-01-01

People generally tend to advance gains and postpone losses in intertemporal choice. Jiang et al. (2014) recently showed that adding upfront losses or gains to both smaller and sooner (SS) and larger and later (LL) rewards can decrease people's discounting. To account for this decrease, they proposed the salience hypothesis, which states that introducing upfront losses or gains makes the money dimension more salient than not, thus increasing people's preference for LL rewards. Considering that decreasing the discounting of delayed losses is imperative and that most previous studies have focused on intertemporal choices with gains, in the current paper we conducted two experiments and used hypothetical money outcomes to examine whether the effect of upfront money could be extended to intertemporal choices with losses. The results showed that when both SS and LL intertemporal losses were combined with an upfront loss or gain, people's discounting rate decreased and the preference for the SS option increased. This finding further supports the salience account.

A two-level discount model for coordinating a decentralized supply chain considering stochastic price-sensitive demand

Science.gov (United States)

Heydari, Jafar; Norouzinasab, Yousef

2015-12-01

In this paper, a discount model is proposed to coordinate pricing and ordering decisions in a two-echelon supply chain (SC). Demand is stochastic and price sensitive while lead times are fixed. Decentralized decision making where downstream decides on selling price and order size is investigated. Then, joint pricing and ordering decisions are extracted where both members act as a single entity aim to maximize whole SC profit. Finally, a coordination mechanism based on quantity discount is proposed to coordinate both pricing and ordering decisions simultaneously. The proposed two-level discount policy can be characterized from two aspects: (1) marketing viewpoint: a retail price discount to increase the demand, and (2) operations management viewpoint: a wholesale price discount to induce the retailer to adjust its order quantity and selling price jointly. Results of numerical experiments demonstrate that the proposed policy is suitable to coordinate SC and improve the profitability of SC as well as all SC members in comparison with decentralized decision making.

SOLTECH 92 proceedings: Solar Process Heat Program. Volume 1

Energy Technology Data Exchange (ETDEWEB)

1992-03-01

This document is a limited Proceedings, documenting the presentations given at the symposia conducted by the US Department of Energy`s (DOE) Solar Industrial Program and Solar Thermal Electrical Program at SOLTECH92. The SOLTECH92 national solar energy conference was held in Albuquerque, New Mexico during the period February 17--20, 1992. The National Renewable Energy Laboratory manages the Solar Industrial Program; Sandia National Laboratories (Albuquerque) manages the Solar Thermal Electric Program. The symposia sessions were as follows: (1) Solar Industrial Program and Solar Thermal Electric Program Overviews, (2) Solar Process Heat Applications, (3) Solar Decontamination of Water and Soil; (4) Solar Building Technologies, (5) Solar Thermal Electric Systems, (6) PV Applications and Technologies. For each presentation given in these symposia, these Proceedings provide a one- to two-page abstract and copies of the viewgraphs and/or 35mm slides utilized by the speaker. Some speakers provided additional materials in the interest of completeness. The materials presented in this document were not subjected to a peer review process.

SOLTECH 1992 proceedings: Solar Process Heat Program, volume 1

Science.gov (United States)

1992-03-01

This document is a limited Proceedings, documenting the presentations given at the symposia conducted by the U.S. Department of Energy's (DOE) Solar Industrial Program and Solar Thermal Electrical Program at SOLTECH92. The SOLTECH92 national solar energy conference was held in Albuquerque, New Mexico during the period February 17-20, 1992. The National Renewable Energy Laboratory manages the Solar Industrial Program; Sandia National Laboratories (Albuquerque) manages the Solar Thermal Electric Program. The symposia sessions were as follows: (1) Solar Industrial Program and Solar Thermal Electric Program Overviews, (2) Solar Process Heat Applications, (3) Solar Decontamination of Water and Soil, (4) Solar Building Technologies, (5) Solar Thermal Electric Systems, and (6) Photovoltaic (PV) Applications and Technologies. For each presentation given in these symposia, these Proceedings provide a one- to two-page abstract and copies of the viewgraphs and/or 35 mm slides utilized by the speaker. Some speakers provided additional materials in the interest of completeness. The materials presented in this document were not subjected to a peer review process.

The consumption discount rate for the distant future (if we do not die out)

NARCIS (Netherlands)

Vermeylen, K.

2013-01-01

Gollier and Weitzman (2010) show that if future consumption discount rates are uncertain and persistent, the consumption discount rate should decline to its lowest possible value for events in the most distant future. In this paper, I argue that the lowest possible growth rate of consumption per

A dual-process approach to exploring the role of delay discounting in obesity.

Science.gov (United States)

Price, Menna; Higgs, Suzanne; Maw, James; Lee, Michelle

2016-08-01

Delay discounting of financial rewards has been related to overeating and obesity. Neuropsychological evidence supports a dual-system account of both discounting and overeating behaviour where the degree of impulsive decision making is determined by the relative strength of reward desire and executive control. A dual-parameter model of discounting behaviour is consistent with this theory. In this study, the fit of the commonly used one-parameter model was compared to a new dual-parameter model for the first time in a sample of adults with wide ranging BMI. Delay discounting data from 79 males and females (males=26) across a wide age (M=28.44years (SD=8.81)) and BMI range (M=25.42 (SD=5.16)) was analysed. A dual-parameter model (saturating-hyperbolic; Doya, [Doya (2008) ]) was applied to the data and compared on model fit indices to the single-parameter model. Discounting was significantly greater in the overweight/obese participants using both models, however, the two parameter model showed a superior fit to data (pdual-system account of inter-temporal choice behaviour. The dual-parameter model showed superior fit to data and the two parameters were shown to be related yet distinct indices sensitive to differences between weight groups. Findings are discussed in terms of the impulsive reward and executive control systems that contribute to unhealthy food choice and within the context of obesity related research. Copyright © 2016 Elsevier Inc. All rights reserved.

Heroin delay discounting: Modulation by pharmacological state, drug-use impulsivity, and intelligence.

Science.gov (United States)

Stoltman, Jonathan J K; Woodcock, Eric A; Lister, Jamey J; Lundahl, Leslie H; Greenwald, Mark K

2015-12-01

Delay discounting (DD) refers to how rapidly an individual devalues goods based on delays to receipt. DD usually is considered a trait variable but can be state dependent, yet few studies have assessed commodity valuation at short, naturalistically relevant time intervals that might enable state-dependent analysis. This study aimed to determine whether drug-use impulsivity and intelligence influence heroin DD at short (ecologically relevant) delays during two pharmacological states (heroin satiation and withdrawal). Out-of-treatment, intensive heroin users (n = 170; 53.5% African American; 66.7% male) provided complete DD data during imagined heroin satiation and withdrawal. Delays were 3, 6, 12, 24, 48, 72, and 96 hours; maximum delayed heroin amount was thirty $10 bags. Indifference points were used to calculate area under the curve (AUC). We also assessed drug-use impulsivity (subscales from the Impulsive Relapse Questionnaire [IRQ]) and estimated intelligence (Shipley IQ) as predictors of DD. Heroin discounting was greater (smaller AUC) during withdrawal than satiation. In regression analyses, lower intelligence and IRQ Capacity for Delay as well as higher IRQ Speed (to return to drug use) predicted greater heroin discounting in the satiation condition. Lower intelligence and higher IRQ Speed predicted greater discounting in the withdrawal condition. Sex, race, substance use variables, and other IRQ subscales were not significantly related to the withdrawal or satiation DD behavior. In summary, heroin discounting was temporally rapid, pharmacologically state dependent, and predicted by drug-use impulsivity and estimated intelligence. These findings highlight a novel and sensitive measure of acute DD that is easy to administer. (PsycINFO Database Record (c) 2015 APA, all rights reserved).

Hypothetical intertemporal choice and real economic behavior: delay discounting predicts voucher redemptions during contingency-management procedures.

Science.gov (United States)

Bickel, Warren K; Jones, Bryan A; Landes, Reid D; Christensen, Darren R; Jackson, Lisa; Mancino, Michael

2010-12-01

Delay discounting rates are predictive of drug use status, the likelihood of becoming abstinent, and a variety of health behaviors. Rates of delay discounting may also be related to other relevant behaviors associated with addiction, such as the frequency at which individuals redeem contingency management voucher earnings. This study examined the discounting rates of 152 participants in a buprenorphine treatment program for opioid abuse. Participants received up to 12 weeks of buprenorphine treatment combined with contingency management. Participant's drug use was measured via urine specimens submitted three times a week. Successive negative urine specimens were reinforced with increasing amounts of money. After each negative urine specimen, a participant could either redeem his or her earnings or accumulate it in an account. Analysis of the frequency of redemptions showed that participants with higher rates of delay discounting at study intake redeemed their earnings significantly more often than participants with lower rates of discounting. Age and income also predicted redemption rates. We suggest that delay discounting rates can be used to predict redemption behaviors in a contingency management treatment program and that these findings are consistent with the recent theory of the competing neurobehavioral decision systems. PsycINFO Database Record (c) 2010 APA, all rights reserved.

Discounting and decision making in the economic evaluation of health-care technologies.

Science.gov (United States)

Claxton, Karl; Paulden, Mike; Gravelle, Hugh; Brouwer, Werner; Culyer, Anthony J

2011-01-01

Discounting costs and health benefits in cost-effectiveness analysis has been the subject of recent debate - some authors suggesting a common rate for both and others suggesting a lower rate for health. We show how these views turn on key judgments of fact and value: on whether the social objective is to maximise discounted health outcomes or the present consumption value of health; on whether the budget for health care is fixed; on the expected growth in the cost-effectiveness threshold; and on the expected growth in the consumption value of health. We demonstrate that if the budget for health care is fixed and decisions are based on incremental cost effectiveness ratios (ICERs), discounting costs and health gains at the same rate is correct only if the threshold remains constant. Expecting growth in the consumption value of health does not itself justify differential rates but implies a lower rate for both. However, whether one believes that the objective should be the maximisation of the present value of health or the present consumption value of health, adopting the social time preference rate for consumption as the discount rate for costs and health gains is valid only under strong and implausible assumptions about values and facts. 2010 John Wiley & Sons, Ltd.

Incentives for solar energy in industry

Science.gov (United States)

Bergeron, K. D.

1981-05-01

Several issues are analyzed on the effects that government subsidies and other incentives have on the use of solar energy in industry, as well as on other capital-intensive alternative energy supplies. Discounted cash flow analysis is used to compare tax deductions for fuel expenses with tax credits for capital investments for energy. The result is a simple expression for tax equity. The effects that market penetration of solar energy has on conventional energy prices are analyzed with a free market model. It is shown that net costs of a subsidy program to the society can be significantly reduced by price. Several government loan guarantee concepts are evaluated as incentives that may not require direct outlays of government funds; their relative effectiveness in achieving loan leverage through project financing, and their cost and practicality, are discussed.

Haloperidol and Rimonabant Increase Delay Discounting in Rats Fed High-Fat and Standard-Chow Diets

Science.gov (United States)

Boomhower, Steven R.; Rasmussen, Erin B.

2016-01-01

The dopamine and endocannabinoid neurotransmitter systems have been implicated in delay discounting, a measure of impulsive choice, and obesity. The current study was designed to determine the extent to which haloperidol and rimonabant affected delay discounting in rats fed standard-chow and high-fat diets. Sprague-Dawley rats were allowed to free-feed under a high-fat diet (4.73 kcal/g) or a standard-chow diet (3.0 kcal/g) for three months. Then, operant sessions began in which rats (n = 9 standard chow; n = 10 high-fat) chose between one sucrose pellet delivered immediately vs. three sucrose pellets after a series of delays. In another condition, carrot-flavored pellets replaced sucrose pellets. After behavior stabilized, acute injections of rimonabant (0.3-10 mg/kg) and haloperidol (0.003-0.1 mg/kg) were administered i.p. before some choice sessions in both pellet conditions. Haloperidol and rimonabant increased discounting in both groups of rats by decreasing percent choice for the larger reinforcer and area-under-the-curve (AUC) values. Rats in the high-fat diet condition demonstrated increased sensitivity to haloperidol compared to chow-fed controls: haloperidol increased discounting in both dietary groups in the sucrose condition,, but only in the high-fat-fed rats in the carrot-pellet condition. These findings indicate that blocking D2 and CB1 receptors results in increased delay discounting, and that a high-fat diet may alter sensitivity to dopaminergic compounds using the delay-discounting task. PMID:25000488

Optimizing Discount Rates: Expressing Preferences for Sustainable Outcomes in Present Value Calculations

OpenAIRE

Axelrod, David

2017-01-01

This paper describes how the discount rate used in present value calculations expresses the preference for sustainability in decision making, and its implication for sustainable economic growth. In essence, the lower the discount rate, the greater the regard for the future, and the more likely we choose behaviors that lead to long-term sustainability. The theoretical framework combines behavioral economics and holonomics, which involve limitations of regard for the future due to constraints o...

Longitudinal Associations Among Religiousness, Delay Discounting, and Substance Use Initiation in Early Adolescence.

Science.gov (United States)

Kim-Spoon, Jungmeen; McCullough, Michael E; Bickel, W K; Farley, Julee P; Longo, Gregory S

2015-03-01

Prior research indicates that religiousness is related negatively to adolescent health risk behaviors, yet how such protective effects operate is not well understood. This study examined the longitudinal associations among organizational and personal religiousness, delay discounting, and substance use initiation (alcohol, cigarette, and marijuana use). The sample comprised 106 early adolescents (10-13 years of age, 52% female) who were not using substances at Time 1. Path analyses suggested that high levels of personal religiousness at Time 1 were related to low levels of substance use at Time 2 (2.4 years later), mediated by low levels of delay discounting. Delay discounting appears to be an important contributor to the protective effect of religiousness on the development of substance use among adolescents.

Solar central receiver reformer system for ammonia plants

Science.gov (United States)

1980-07-01

Details of the conceptual design, economic analysis, and development plan for a solar central receiver system for retrofitting the Valley Nitrogen Producers, Inc., El Centro, California 600 ST/SD Ammonia Plant are presented. The retrofit system consists of a solar central receiver reformer (SCRR) operating in parallel with the existing fossil fired reformer. Steam and hydrocarbon react in the catalyst filled tubes of the inner cavity receiver to form a hydrogen rich mixture which is the syngas feed for the ammonia production. The SCRR system displaces natural gas presently used in the fossil reformer combustion chamber. The solar reformer retrofit system characteristics and its interface with the existing plant are simple, incorporating state of the art components with proven technology. A northfield composed of one thousand forty second generation heliostats provides solar energy to the receiver which is positioned on top of a 90 meter high steel tower. The overall economics of this system can provide over 20% discount cash flow rate of return with proper investment and market conditions.

Solar system astrophysics planetary atmospheres and the outer solar system

CERN Document Server

Milone, Eugene F

2014-01-01

The second edition of Solar System Astrophysics: Planetary Atmospheres and the Outer Solar System provides a timely update of our knowledge of planetary atmospheres and the bodies of the outer solar system and their analogs in other planetary systems. This volume begins with an expanded treatment of the physics, chemistry, and meteorology of the atmospheres of the Earth, Venus, and Mars, moving on to their magnetospheres and then to a full discussion of the gas and ice giants and their properties. From here, attention switches to the small bodies of the solar system, beginning with the natural satellites. Then comets, meteors, meteorites, and asteroids are discussed in order, and the volume concludes with the origin and evolution of our solar system. Finally, a fully revised section on extrasolar planetary systems puts the development of our system in a wider and increasingly well understood galactic context. All of the material is presented within a framework of historical importance. This book and its sist...

Results of reference pricing and reimbursement discount rate schemes of Turkey

Directory of Open Access Journals (Sweden)

Guvenc Kockaya

2013-06-01

Full Text Available OBJECTIVES: General Directorate of Pharmaceuticals and Pharmacy (IEGM is responsible for setting all prices for human medicinal products. The reference pricing system is used for setting these prices. Reference countries are reviewed annually and may be subject to certain alterations. There were 5 reference countries in 2009: Spain, Italy, Germany, France and Greece. The aim of this study is to show the distribution of reference countries which were used for reference pricing.METHODS: The price list of pharmaceuticals which was published by IEGM on 15.04.2011 was used for analysis. Distribution of reference countries and prices were evaluated.RESULTS: Prices of 6,251 generic and 3,703 original products were set according to the price list. 5,283 of generics and 3,306 of originals were in the positive list for reimbursement. Reference pricing was used for 2,352 generics and 2,281 originals. Prices of the remaining were set outside of reference pricing. 32 different countries were used for reference pricing. Italy was the most popular country for reference pricing. Even if it was not a reference country, Germany was used in some of the pharmaceuticals. The average reimbursement discount rate and price were 24.43% and 249 TL, respectively. There were no colerations between price and reimbursement discount rate, or reference country and reimbursement rate.CONCLUSION: It has been shown that Italy has the highest impact on the pricing of all pharmaceuticals in Turkey. Even if it was not a reference country, Germany showed to affect pharmaceuticals more than other countries which were also not used for reference pricing. Even if reimbursement discount rates are stated by the Social Security Institution (SGK, there are different discount rates for pharmaceuticals. The analysis stated that there were correlation between price, country and discount rates. This analysis is first for the literature. Further analysis is necessary in the light of price

Victims' time discounting 2.5 years after the Wenchuan earthquake: an ERP study.

Science.gov (United States)

Li, Jin-Zhen; Gui, Dan-Yang; Feng, Chun-Liang; Wang, Wen-Zhong; Du, Bo-Qi; Gan, Tian; Luo, Yue-Jia

2012-01-01

Time discounting refers to the fact that the subjective value of a reward decreases as the delay until its occurrence increases. The present study investigated how time discounting has been affected in survivors of the magnitude-8.0 Wenchuan earthquake that occurred in China in 2008. Nineteen earthquake survivors and 22 controls, all school teachers, participated in the study. Event-related brain potentials (ERPs) for time discounting tasks involving gains and losses were acquired in both the victims and controls. The behavioral data replicated our previous findings that delayed gains were discounted more steeply after a disaster. ERP results revealed that the P200 and P300 amplitudes were increased in earthquake survivors. There was a significant group (earthquake vs. non-earthquake) × task (gain vs. loss) interaction for the N300 amplitude, with a marginally significantly reduced N300 for gain tasks in the experimental group, which may suggest a deficiency in inhibitory control for gains among victims. The results suggest that post-disaster decisions might involve more emotional (System 1) and less rational thinking (System 2) in terms of a dual-process model of decision making. The implications for post-disaster intervention and management are also discussed.

Ordering Cost Reduction in Inventory Model with Defective Items and Backorder Price Discount

Directory of Open Access Journals (Sweden)

Karuppuchamy Annadurai

2014-01-01

Full Text Available In the real market, as unsatisfied demands occur, the longer the length of lead time is, the smaller the proportion of backorder would be. In order to make up for the inconvenience and even the losses of royal and patient customers, the supplier may offer a backorder price discount to secure orders during the shortage period. Also, ordering policies determined by conventional inventory models may be inappropriate for the situation in which an arrival lot contains some defective items. To compensate for the inconvenience of backordering and to secure orders, the supplier may offer a price discount on the stockout item. The purpose of this study is to explore a coordinated inventory model including defective arrivals by allowing the backorder price discount and ordering cost as decision variables. There are two inventory models proposed in this paper, one with normally distributed demand and another with distribution free demand. A computer code using the software Matlab 7.0 is developed to find the optimal solution and present numerical examples to illustrate the models. The results in the numerical examples indicate that the savings of the total cost are realized through ordering cost reduction and backorder price discount.

The Dividend-Price Ratio and Expectations of Future Dividends and Discount Factors

OpenAIRE

John Y. Campbell; Robert J. Shiller

1986-01-01

A linearization of a rational expectations present value model for corporate stock prices produces a simple relation between the log dividend-price ratio and mathematical expectations of future log real dividend changes and future real discount rates. This relation can be tested using vector autoregressive methods. Three versions of the linearized model, differing in the measure of discount rates, are tested for U. S. time series 1871-1986: versions using real interest rate data, aggregate re...

Discounting of Delayed Food Rewards in Pigeons and Rats: Is There a Magnitude Effect

Science.gov (United States)

Green, Leonard; Myerson, Joel; Holt, Daniel D.; Slavin, John R.; Estle, Sara J.

2004-01-01

Temporal discounting refers to the decrease in the present, subjective value of a reward as the time to its receipt increases. Results from humans have shown that a hyperbola-like function describes the form of the discounting function when choices involve hypothetical monetary rewards. In addition, magnitude effects have been reported in which…

Stochastic Discount Factor Approach to International Risk-Sharing:A Robustness Check of the Bilateral Setting

NARCIS (Netherlands)

Hadzi-Vaskov, M.; Kool, C.J.M.

2007-01-01

This paper presents a robustness check of the stochastic discount factor approach to international (bilateral) risk-sharing given in Brandt, Cochrane, and Santa-Clara (2006). We demonstrate two main inherent limitations of the bilateral SDF approach to international risk-sharing. First, the discount

Stated time preferences for health: a systematic review and meta analysis of private and social discount rates.

Science.gov (United States)

Mahboub-Ahari, Alireza; Pourreza, Abolghasem; Sari, Ali Akbari; Rahimi Foroushani, Abbas; Heydari, Hassan

2014-01-01

The present study aimed to provide better insight on methodological issues related to time preference studies, and to estimate private and social discount rates, using a rigorous systematic review and meta-analysis. We searched PubMed, EMBASE and Proquest databases in June 2013. All studies had estimated private and social time preference rates for health outcomes through stated preference approach, recognized eligible for inclusion. We conducted both fixed and random effect meta-analyses using mean discount rate and standard deviation of the included studies. I-square statistics was used for testing heterogeneity of the studies. Private and social discount rates were estimated separately via Stata11 software. Out of 44 screened full texts, 8 population-based empirical studies were included in qualitative synthesis. Reported time preference rates for own health were from 0.036 to 0.07 and for social health from 0.04 to 0.2. Private and social discount rates were estimated at 0.056 (95% CI: 0.038, 0.074) and 0.066 (95% CI: 0.064, 0.068), respectively. Considering the impact of time preference on healthy behaviors and because of timing issues, individual's time preference as a key determinant of policy making should be taken into account. Direct translation of elicited discount rates to the official discount rates has been remained questionable. Decisions about the proper discount rate for health context, may need a cross-party consensus among health economists and policy makers.

"What time is my next meal?" delay-discounting individuals choose smaller portions under conditions of uncertainty.

Science.gov (United States)

Zimmerman, Annie R; Ferriday, Danielle; Davies, Sarah R; Martin, Ashley A; Rogers, Peter J; Mason, Alice; Brunstrom, Jeffrey M

2017-09-01

'Dietary' delay discounting is typically framed as a trade-off between immediate rewards and long-term health concerns. Our contention is that prospective thinking also occurs over shorter periods, and is engaged to select portion sizes based on the interval between meals (inter-meal interval; IMI). We sought to assess the extent to which the length of an IMI influences portion-size selection. We predicted that delay discounters would show 'IMI insensitivity' (relative lack of concern about hunger or fullness between meals). In particular, we were interested in participants' sensitivity to an uncertain IMI. We hypothesized that when meal times were uncertain, delay discounters would be less responsive and select smaller portion sizes. Participants (N = 90) selected portion sizes for lunch. In different trials, they were told to expect dinner at 5pm, 9pm, and either 5pm or 9pm (uncertain IMI). Individual differences in future-orientation were measured using a monetary delay-discounting task. Participants chose larger portions when the IMI was longer (p relationship between BMI and smaller portion selection in uncertainty (p < 0.05). This is the first study to report an association between delay discounting and IMI insensitivity. We reason that delay discounters selected smaller portions because they were less sensitive to the uncertain IMI, and overlooked concerns about potential future hunger. These findings are important because they illustrate that differences in discounting are expressed in short-term portion-size decisions and suggest that IMI insensitivity increases when meal timings are uncertain. Further research is needed to confirm whether these findings generalise to other populations. Copyright © 2017. Published by Elsevier Ltd.

Development of smart solar tanks

DEFF Research Database (Denmark)

Furbo, Simon; Andersen, Elsa

1999-01-01

The aim of the project is to develop smart solar tanks. A smart solar tank is a tank in which the domestic water can bee heated both by solar collectors and by an auxiliary energy supply system. The auxiliary energy supply system heats up the hot-water tank from the top and the water volume heated...... by the auxiliary energy supply system is fitted to the hot water consumption and consumption pattern. In periods with a large hot-water demand the volume is large, in periods with a small hot-water demand the volume is small. Based on measurements and calculations the advantage of smart SDHW systems is visualised....

Effects of episodic future thinking on discounting: Personalized age-progressed pictures improve risky long-term health decisions.

Science.gov (United States)

Kaplan, Brent A; Reed, Derek D; Jarmolowicz, David P

2016-03-01

Many everyday choices are associated with both delayed and probabilistic outcomes. The temporal attention hypothesis suggests that individuals' decision making can be improved by focusing attention on temporally distal events and implies that environmental manipulations that bring temporally distal outcomes into focus may alter an individual's degree of discounting. One such manipulation, episodic future thinking, has shown to lower discount rates; however, several questions remain about the applicability of episodic future thinking to domains other than delay discounting. The present experiments examine the effects of a modified episodic-future-thinking procedure in which participants viewed age-progressed computer-generated images of themselves and answered questions related to their future, on probability discounting in the context of both a delayed health gain and loss. Results indicate that modified episodic future thinking effectively altered individuals' degree of discounting in the predicted directions and demonstrate the applicability of episodic future thinking to decision making of socially significant outcomes. © 2015 Society for the Experimental Analysis of Behavior.

Discounting of Monetary Rewards that are Both Delayed and Probabilistic: Delay and Probability Combine Multiplicatively, not Additively

Science.gov (United States)

Vanderveldt, Ariana; Green, Leonard; Myerson, Joel

2014-01-01

The value of an outcome is affected both by the delay until its receipt (delay discounting) and by the likelihood of its receipt (probability discounting). Despite being well-described by the same hyperboloid function, delay and probability discounting involve fundamentally different processes, as revealed, for example, by the differential effects of reward amount. Previous research has focused on the discounting of delayed and probabilistic rewards separately, with little research examining more complex situations in which rewards are both delayed and probabilistic. In two experiments, participants made choices between smaller rewards that were both immediate and certain and larger rewards that were both delayed and probabilistic. Analyses revealed significant interactions between delay and probability factors inconsistent with an additive model. In contrast, a hyperboloid discounting model in which delay and probability were combined multiplicatively provided an excellent fit to the data. These results suggest that the hyperboloid is a good descriptor of decision making in complicated monetary choice situations like those people encounter in everyday life. PMID:24933696

Sales Trends in Price-Discounted Cigarettes, Large Cigars, Little Cigars, and Cigarillos-United States, 2011-2016.

Science.gov (United States)

Wang, Teresa W; Falvey, Kyle; Gammon, Doris G; Loomis, Brett R; Kuiper, Nicole M; Rogers, Todd; King, Brian A

2017-12-15

Tobacco manufacturers continue to implement a range of pricing strategies to increase the affordability and consumption of tobacco products. To demonstrate the extent of retail- and brand-level price discounts at the point of sale, this study assessed national sales trends in price-discounted cigarettes, large cigars, little cigars, and cigarillos. Retail scanner data for tobacco product sales were obtained for convenience stores (C-store) and all-other-outlets-combined (AOC) from September 25, 2011, to January 9, 2016. The proportion of price-discounted sales, average nondiscounted unit price, and average discounted unit price were examined by product category and brand. JoinPoint regression was used to assess average monthly percentage change. Overall, price-discounted sales accounted for 11.3% of cigarette, 3.4% of large cigar, 4.1% of little cigar, and 3.9% of cigarillo sales. The average difference between nondiscounted and discounted prices was 25.5% (C-store) and 36.7% (AOC) for cigarettes; 11.0% (C-store) and 11.2% (AOC) for large cigars; 19.2% (C-store) and 9.6% (AOC) for little cigars; and 5.3% (C-store) and 14.7% (AOC) for cigarillos. Furthermore, price-discounted sales of top-selling tobacco brands comprised up to 36% of cigarette, 7.4% of large cigar, 7.7% of little cigar, and 4.2% of cigarillo unit sales. These findings highlight the use of price discounts by tobacco manufacturers to reduce the cost of cigarettes, large cigars, little cigars, and cigarillos to consumers. These sales patterns underscore the importance of sustained efforts to implement evidence-based strategies to increase prices and reduce availability and consumption of combustible tobacco in the United States. This study highlights the prevalence and provides a baseline of price-discounted cigarettes, large cigars, little cigars, and cigarillos. Surveillance of tobacco sales data, including state-level trends and additional product types, is critical for informing approaches to

Review of assessment methods discount rate in investment analysis

Directory of Open Access Journals (Sweden)

Yamaletdinova Guzel Hamidullovna

2011-08-01

Full Text Available The article examines the current methods of calculating discount rate in investment analysis and business valuation, as well as analyzes the key problems using various techniques in terms of the Russian economy.

Candidate solar cell materials for photovoltaic conversion in a solar power satellite /SPS/

Science.gov (United States)

Glaser, P. E.; Almgren, D. W.

1978-01-01

In recognition of the obstacles to solar-generated baseload power on earth, proposals have been made to locate solar power satellites in geosynchronous earth orbit (GEO), where solar energy would be available 24 hours a day during most of the time of the year. In an SPS, the electricity produced by solar energy conversion will be fed to microwave generators forming part of a planar phase-array transmitting antenna. The antenna is designed to precisely direct a microwave beam of very low intensity to one or more receiving antennas at desired locations on earth. At the receiving antenna, the microwave energy will be safely and efficiently reconverted to electricity and then be transmitted to consumers. An SPS system will include a number of satellites in GEO. Attention is given to the photovoltaic option for solar energy conversion in GEO, solar cell requirements, the availability of materials, the implication of large production volumes, requirements for high-volume manufacture of solar cell arrays, and the effects of concentration ratio on solar cell array area.

High-power, ultralow-mass solar arrays: FY-77 solar arrays technology readiness assessment report, volume 2

Science.gov (United States)

Costogue, E. N.; Young, L. E.; Brandhorst, H. W., Jr.

1978-01-01

Development efforts are reported in detail for: (1) a lightweight solar array system for solar electric propulsion; (2) a high efficiency thin silicon solar cell; (3) conceptual design of 200 W/kg solar arrays; (4) fluorocarbon encapsulation for silicon solar cell array; and (5) technology assessment of concentrator solar arrays.

Cognitive decline is associated with risk aversion and temporal discounting in older adults without dementia.

Directory of Open Access Journals (Sweden)

Bryan D James

Full Text Available Risk aversion and temporal discounting are preferences that are strongly linked to sub-optimal financial and health decision making ability. Prior studies have shown they differ by age and cognitive ability, but it remains unclear whether differences are due to age-related cognitive decline or lower cognitive abilities over the life span. We tested the hypothesis that cognitive decline is associated with higher risk aversion and temporal discounting in 455 older persons without dementia from the Memory and Aging Project, a longitudinal cohort study of aging in Chicago. All underwent repeated annual cognitive evaluations using a detailed battery including 19 tests. Risk aversion was measured using standard behavioral economics questions: participants were asked to choose between a certain monetary payment versus a gamble in which they could gain more or nothing; potential gamble gains varied across questions. Temporal discounting: participants were asked to choose between an immediate, smaller payment and a delayed, larger one; two sets of questions addressed small and large stakes based on payment amount. Regression analyses were used to examine whether prior rate of cognitive decline predicted level of risk aversion and temporal discounting, controlling for age, sex, and education. Over an average of 5.5 (SD=2.9 years, cognition declined at an average of 0.016 units per year (SD=0.03. More rapid cognitive decline predicted higher levels of risk aversion (p=0.002 and temporal discounting (small stakes: p=0.01, high stakes: p=0.006. Further, associations between cognitive decline and risk aversion (p=0.015 and large stakes temporal discounting (p=0.026 persisted in analyses restricted to persons without any cognitive impairment (i.e., no dementia or mild cognitive impairment; the association of cognitive decline and small stakes temporal discounting was no longer statistically significant (p=0.078. These findings are consistent with the

Cognitive decline is associated with risk aversion and temporal discounting in older adults without dementia.

Science.gov (United States)

James, Bryan D; Boyle, Patricia A; Yu, Lei; Han, S Duke; Bennett, David A

2015-01-01

Risk aversion and temporal discounting are preferences that are strongly linked to sub-optimal financial and health decision making ability. Prior studies have shown they differ by age and cognitive ability, but it remains unclear whether differences are due to age-related cognitive decline or lower cognitive abilities over the life span. We tested the hypothesis that cognitive decline is associated with higher risk aversion and temporal discounting in 455 older persons without dementia from the Memory and Aging Project, a longitudinal cohort study of aging in Chicago. All underwent repeated annual cognitive evaluations using a detailed battery including 19 tests. Risk aversion was measured using standard behavioral economics questions: participants were asked to choose between a certain monetary payment versus a gamble in which they could gain more or nothing; potential gamble gains varied across questions. Temporal discounting: participants were asked to choose between an immediate, smaller payment and a delayed, larger one; two sets of questions addressed small and large stakes based on payment amount. Regression analyses were used to examine whether prior rate of cognitive decline predicted level of risk aversion and temporal discounting, controlling for age, sex, and education. Over an average of 5.5 (SD=2.9) years, cognition declined at an average of 0.016 units per year (SD=0.03). More rapid cognitive decline predicted higher levels of risk aversion (p=0.002) and temporal discounting (small stakes: p=0.01, high stakes: p=0.006). Further, associations between cognitive decline and risk aversion (p=0.015) and large stakes temporal discounting (p=0.026) persisted in analyses restricted to persons without any cognitive impairment (i.e., no dementia or mild cognitive impairment); the association of cognitive decline and small stakes temporal discounting was no longer statistically significant (p=0.078). These findings are consistent with the hypothesis that

An adaptive, individualized fMRI delay discounting procedure to increase flexibility and optimize scanner time.

Science.gov (United States)

Koffarnus, Mikhail N; Deshpande, Harshawardhan U; Lisinski, Jonathan M; Eklund, Anders; Bickel, Warren K; LaConte, Stephen M

2017-11-01

Research on the rate at which people discount the value of future rewards has become increasingly prevalent as discount rate has been shown to be associated with many unhealthy patterns of behavior such as drug abuse, gambling, and overeating. fMRI research points to a fronto-parietal-limbic pathway that is active during decisions between smaller amounts of money now and larger amounts available after a delay. Researchers in this area have used different variants of delay discounting tasks and reported various contrasts between choice trials of different types from these tasks. For instance, researchers have compared 1) choices of delayed monetary amounts to choices of the immediate monetary amounts, 2) 'hard' choices made near one's point of indifference to 'easy' choices that require little thought, and 3) trials where an immediate choice is available versus trials where one is unavailable, regardless of actual eventual choice. These differences in procedure and analysis make comparison of results across studies difficult. In the present experiment, we designed a delay discounting task with the intended capability of being able to construct contrasts of all three comparisons listed above while optimizing scanning time to reduce costs and avoid participant fatigue. This was accomplished with an algorithm that customized the choice trials presented to each participant with the goal of equalizing choice trials of each type. We compared this task, which we refer to here as the individualized discounting task (IDT), to two other delay discounting tasks previously reported in the literature (McClure et al., 2004; Amlung et al., 2014) in 18 participants. Results show that the IDT can examine each of the three contrasts mentioned above, while yielding a similar degree of activation as the reference tasks. This suggests that this new task could be used in delay discounting fMRI studies to allow researchers to more easily compare their results to a majority of previous

Victims' time discounting 2.5 years after the Wenchuan earthquake: an ERP study.

Directory of Open Access Journals (Sweden)

Jin-Zhen Li

Full Text Available Time discounting refers to the fact that the subjective value of a reward decreases as the delay until its occurrence increases. The present study investigated how time discounting has been affected in survivors of the magnitude-8.0 Wenchuan earthquake that occurred in China in 2008.Nineteen earthquake survivors and 22 controls, all school teachers, participated in the study. Event-related brain potentials (ERPs for time discounting tasks involving gains and losses were acquired in both the victims and controls.The behavioral data replicated our previous findings that delayed gains were discounted more steeply after a disaster. ERP results revealed that the P200 and P300 amplitudes were increased in earthquake survivors. There was a significant group (earthquake vs. non-earthquake × task (gain vs. loss interaction for the N300 amplitude, with a marginally significantly reduced N300 for gain tasks in the experimental group, which may suggest a deficiency in inhibitory control for gains among victims.The results suggest that post-disaster decisions might involve more emotional (System 1 and less rational thinking (System 2 in terms of a dual-process model of decision making. The implications for post-disaster intervention and management are also discussed.

Supply Chain Coordination under Trade Credit and Quantity Discount with Sales Effort Effects

Directory of Open Access Journals (Sweden)

Zhihong Wang

2018-01-01

Full Text Available The purpose of this paper is to investigate the role of trade credit and quantity discount in supply chain coordination when the sales effort effect on market demand is considered. In this paper, we consider a two-echelon supply chain consisting of a single retailer ordering a single product from a single manufacturer. Market demand is stochastic and is influenced by retailer sales effort. We formulate an analytical model based on a single trade credit and find that the single trade credit cannot achieve the perfect coordination of the supply chain. Then, we develop a hybrid quantitative analytical model for supply chain coordination by coherently integrating incentives of trade credit and quantity discount with sales effort effects. The results demonstrate that, providing that the discount rate satisfies certain conditions, the proposed hybrid model combining trade credit and quantity discount will be able to effectively coordinate the supply chain by motivating retailers to exert their sales effort and increase product order quantity. Furthermore, the hybrid quantitative analytical model can provide great flexibility in coordinating the supply chain to achieve an optimal situation through the adjustment of relevant parameters to resolve conflict of interests from different supply chain members. Numerical examples are provided to demonstrate the effectiveness of the hybrid model.

Heroin and cocaine abusers have higher discount rates for delayed rewards than alcoholics or non-drug-using controls.

Science.gov (United States)

Kirby, Kris N; Petry, Nancy M

2004-04-01

To test a prediction of the discounting model of impulsiveness that discount rates would be positively associated with addiction. The delay-discount rate refers to the rate of reduction in the present value of a future reward as the delay to that reward increases. We estimated participants' discount rates on the basis of their pattern of choices between smaller immediate rewards ($11-80) and larger, delayed rewards ($25-85; at delays from 1 week to 6 months) in a questionnaire format. Participants had a one-in-six chance of winning a reward that they chose on one randomly selected trial. Heroin (n = 27), cocaine (n = 41) and alcohol (n = 33) abusers and non-drug-using controls (n = 44) were recruited from advertisements. They were tested in a drug abuse research clinic at a medical school. On average, the cocaine and heroin groups had higher rates than controls (both P rates for heroin abusers (P = 0.03), but not for cocaine or alcohol abusers (both P > 0.50). These data suggest that discount rates vary with the preferred drug of abuse, and that high discount rates should be considered in the development of substance abuse prevention and treatment efforts.

Behavior of a solar collector loop during stagnation

DEFF Research Database (Denmark)

Chen, Ziqian; Dragsted, Janne; Furbo, Simon

2015-01-01

A mathematical model simulating the emptying behavior of a pressurized solar collector loop with solar collectors with a good emptying behavior is developed and validated with measured data. The calculated results are in good agreement with the measured results. The developed simulation model...... is therefore suitable to determine the behavior of a solar collector loop during stagnation. A volume ratio R, which is the ratio of the volume of the vapour in the upper pipes of the solar collector loop during stagnation and the fluid content of solar collectors, is introduced to determine the mass...... of the collector fluid pushed into the expansion vessel during stagnation, Min. A correlation function for the mass Min and the volume ratio R for solar collector loops is obtained. The function can be used to determine a suitable size of expansion vessels for solar collector loops....

Solar Variability and Planetary Climates

CERN Document Server

Calisesi, Y; Gray, L; Langen, J; Lockwood, M

2007-01-01

Variations in solar activity, as revealed by variations in the number of sunspots, have been observed since ancient times. To what extent changes in the solar output may affect planetary climates, though, remains today more than ever a subject of controversy. In 2000, the SSSI volume on Solar Variability and Climate reviewed the to-date understanding of the physics of solar variability and of the associated climate response. The present volume on Solar Variability and Planetary Climates provides an overview of recent advances in this field, with particular focus at the Earth's middle and lower atmosphere. The book structure mirrors that of the ISSI workshop held in Bern in June 2005, the collection of invited workshop contributions and of complementary introductory papers synthesizing the current understanding in key research areas such as middle atmospheric processes, stratosphere-troposphere dynamical coupling, tropospheric aerosols chemistry, solar storm influences, solar variability physics, and terrestri...

Payers' experiences with confidential pharmaceutical price discounts: A survey of public and statutory health systems in North America, Europe, and Australasia.

Science.gov (United States)

Morgan, Steven G; Vogler, Sabine; Wagner, Anita K

2017-04-01

Institutional payers for pharmaceuticals worldwide appear to be increasingly negotiating confidential discounts off of the official list price of pharmaceuticals purchased in the community setting. We conducted an anonymous survey about experiences with and attitudes toward confidential discounts on patented pharmaceuticals in a sample of high-income countries. Confidential price discounts are now common among the ten health systems that participated in our study, though some had only recently begun to use these pricing arrangements on a routine basis. Several health systems had used a wide variety of discounting schemes in the past two years. The most frequent discount received by participating health systems was between 20% and 29% of official list prices; however, six participants reported their health system received one or more discount over the past two years that was valued at 60% or more of the list prices. On average, participants reported that confidential discounts were more common, complex, and significant for specialty pharmaceuticals than for primary care pharmaceuticals. Participants had a more favorable view of the impact of confidential discount schemes on their health systems than on the global marketplace. Overall, the frequency, complexity, and scale of confidential discounts being routinely negotiated suggest that the list prices for medicines bear limited resemblance to what many institutional payers actually pay. Copyright © 2017 The Authors. Published by Elsevier B.V. All rights reserved.

Higher-moment stochastic discount factor specifications and the cross-section of asset returns

OpenAIRE

Wang, Dengli

2013-01-01

The stochastic discount factor model provides a general framework for pricing assets. A suitably specified discount factor encompasses most of the theories currently in use, including the CAPM, consumption CAPM, higher-moment CAPM and their conditional versions. In this thesis, we focus on the empirical admissibility of alternative SDFs under restrictions that ensure that investors’ risk-preferences are well behaved. More innovatively, we explore whether the SDF implied by the 3 and 4-mome...

Buyer-vendor coordination for fixed lifetime product with quantity discount under finite production rate

Science.gov (United States)

Zhang, Qinghong; Luo, Jianwen; Duan, Yongrui

2016-03-01

Buyer-vendor coordination has been widely addressed; however, the fixed lifetime of the product is seldom considered. In this paper, we study the coordination of an integrated production-inventory system with quantity discount for a fixed lifetime product under finite production rate and deterministic demand. We first derive the buyer's ordering policy and the vendor's production batch size in decentralised and centralised systems. We then compare the two systems and show the non-coordination of the ordering policies and the production batch sizes. To improve the supply chain efficiency, we propose quantity discount contract and prove that the contract can coordinate the buyer-vendor supply chain. Finally, we present analytically tractable solutions and give a numerical example to illustrate the benefits of the proposed quantity discount strategy.

EVALUATION OF OPPORTUNITIES OF SOLAR ENERGETICS ON THE BASIS OF ACCURATE GROUND-BASED MEASUREMENTS OF SOLAR RADIATION

Directory of Open Access Journals (Sweden)

Aculinin A.

2008-04-01

Full Text Available Expected quantity of a solar energy received by solar panel is estimated on the basis of accurate measurements of solar radiation in Kishinev. Optimal orientation of solar panels and apparent volume of the electric power generated by solar panels are determined.

Beyond the Shadow of a Trait: Understanding Discounting through Item-Level Analysis of Personality Scales

Science.gov (United States)

Charlton, Shawn R.; Gossett, Bradley D.; Charlton, Veda A.

2011-01-01

Temporal discounting, the loss in perceived value associated with delayed outcomes, correlates with a number of personality measures, suggesting that an item-level analysis of trait measures might provide a more detailed understanding of discounting. The current report details two studies that investigate the utility of such an item-level…

Changing Delay Discounting in the Light of the Competing Neurobehavioral Decision Systems Theory: A Review

Science.gov (United States)

Koffarnus, Mikhail N.; Jarmolowicz, David P.; Mueller, E. Terry; Bickel, Warren K.

2013-01-01

Excessively devaluing delayed reinforcers co-occurs with a wide variety of clinical conditions such as drug dependence, obesity, and excessive gambling. If excessive delay discounting is a trans-disease process that underlies the choice behavior leading to these and other negative health conditions, efforts to change an individual's discount rate…

Positive autobiographical memory retrieval reduces temporal discounting

Science.gov (United States)

Lempert, Karolina M; Speer, Megan E; Delgado, Mauricio R

2017-01-01

Abstract People generally prefer rewards sooner rather than later. This phenomenon, temporal discounting, underlies many societal problems, including addiction and obesity. One way to reduce temporal discounting is to imagine positive future experiences. Since there is overlap in the neural circuitry associated with imagining future experiences and remembering past events, here we investigate whether recalling positive memories can also promote more patient choice. We found that participants were more patient after retrieving positive autobiographical memories, but not when they recalled negative memories. Moreover, individuals were more impulsive after imagining novel positive scenes that were not related to their memories, showing that positive imagery alone does not drive this effect. Activity in the striatum and temporo parietal junction during memory retrieval predicted more patient choice, suggesting that to the extent that memory recall is rewarding and involves perspective-taking, it influences decision-making. Furthermore, representational similarity in the ventromedial prefrontal cortex between memory recall and decision phases correlated with the behavioral effect across participants. Thus, we have identified a novel manipulation for reducing temporal discounting—remembering the positive past—and have begun to characterize the psychological and neural mechanisms behind it. PMID:28655195

Pension Fund Asset Allocation and Liability Discount Rates

NARCIS (Netherlands)

Andonov, Aleksandar; Bauer, Rob; Cremers, Martijn

2017-01-01

The unique regulation of U.S. public pension funds links their liability discount rate to the expected return on assets, which gives them incentives to invest more in risky assets in order to report a better funding status. Comparing public and private pension funds in the United States, Canada, and

Age, gender and deterrability: Are younger male drivers more likely to discount the future?

Science.gov (United States)

Freeman, James; Kaye, Sherrie-Anne; Truelove, Verity; Davey, Jeremy

2017-07-01

Utilizing the Classical Deterrence theory and Stafford and Warr's (1993) reconceptualized model of deterrence, the current study examined whether age, gender, and discounting the future tendencies influence perceptions of being apprehended for speeding offences. Licensed motorists (N=700; 57% female) in Queensland (Australia) were recruited to complete a self-report questionnaire that measured perceptual deterrence, speeding related behaviors and discounting the future tendencies. Data were analyzed utilizing descriptive, bivariate and multivariate regressions. Significant (albeit weak) positive correlations were found between age and perceptions of apprehension certainty. Males were significantly more likely to report higher incidences of speeding (including while avoiding detection) compared to females. In contrast, females were more likely to perceive high levels of apprehension certainty and consider impending penalties to be more severe. At a multivariate level, discounting the future tendencies (in addition to being male, reporting lower levels of perceptual severity and swiftness, and more instances of punishment avoidance) were predictive of lower perceptual certainty levels. This study is one of the first to reveal that being male and having a tendency to discount the consequences of the future may directly influence drivers' perceptual deterrence levels. Copyright © 2017 Elsevier Ltd. All rights reserved.

Social discounting involves modulation of neural value signals by temporoparietal junction

Science.gov (United States)

Strombach, Tina; Weber, Bernd; Hangebrauk, Zsofia; Kenning, Peter; Karipidis, Iliana I.; Tobler, Philippe N.; Kalenscher, Tobias

2015-01-01

Most people are generous, but not toward everyone alike: generosity usually declines with social distance between individuals, a phenomenon called social discounting. Despite the pervasiveness of social discounting, social distance between actors has been surprisingly neglected in economic theory and neuroscientific research. We used functional magnetic resonance imaging (fMRI) to study the neural basis of this process to understand the neural underpinnings of social decision making. Participants chose between selfish and generous alternatives, yielding either a large reward for the participant alone, or smaller rewards for the participant and another individual at a particular social distance. We found that generous choices engaged the temporoparietal junction (TPJ). In particular, the TPJ activity was scaled to the social-distance–dependent conflict between selfish and generous motives during prosocial choice, consistent with ideas that the TPJ promotes generosity by facilitating overcoming egoism bias. Based on functional coupling data, we propose and provide evidence for a biologically plausible neural model according to which the TPJ supports social discounting by modulating basic neural value signals in the ventromedial prefrontal cortex to incorporate social-distance–dependent other-regarding preferences into an otherwise exclusively own-reward value representation. PMID:25605887

Solar central receiver hybrid power system, Phase I. Volume 3. Appendices. Final technical report, October 1978-August 1979

Energy Technology Data Exchange (ETDEWEB)

None

1979-09-01

A design study for a central receiver/fossil fuel hybrid power system using molten salts for heat transfer and heat storage is presented. This volume contains the appendices: (A) parametric salt piping data; (B) sample heat exchanger calculations; (C) salt chemistry and salt/materials compatibility evaluation; (D) heliostat field coordinates; (E) data lists; (F) STEAEC program input data; (G) hybrid receiver design drawings; (H) hybrid receiver absorber tube thermal math model; (I) piping stress analysis; (J) 100-MWe 18-hour storage solar central receiver hybrid power system capital cost worksheets; and (K) 500-MWe 18-hour solar central receiver hybrid power system cost breakdown. (WHK)

Alcohol Increases Delay and Probability Discounting of Condom-Protected Sex: A Novel Vector for Alcohol-Related HIV Transmission.

Science.gov (United States)

Johnson, Patrick S; Sweeney, Mary M; Herrmann, Evan S; Johnson, Matthew W

2016-06-01

Alcohol use, especially at binge levels, is associated with sexual HIV risk behavior, but the mechanisms through which alcohol increases sexual risk taking are not well-examined. Delay discounting, that is, devaluation of future consequences as a function of delay to their occurrence, has been implicated in a variety of problem behaviors, including risky sexual behavior. Probability discounting is studied with a similar framework as delay discounting, but is a distinct process in which a consequence is devalued because it is uncertain or probabilistic. Twenty-three, nondependent alcohol users (13 male, 10 female; mean age = 25.3 years old) orally consumed alcohol (1 g/kg) or placebo in 2 separate experimental sessions. During sessions, participants completed tasks examining delay and probability discounting of hypothetical condom-protected sex (Sexual Delay Discounting Task, Sexual Probability Discounting Task) and of hypothetical and real money. Alcohol decreased the likelihood that participants would wait to have condom-protected sex versus having immediate, unprotected sex. Alcohol also decreased the likelihood that participants would use an immediately available condom given a specified level of sexually transmitted infection (STI) risk. Alcohol did not affect delay discounting of money, but it did increase participants' preferences for larger, probabilistic monetary rewards over smaller, certain rewards. Acute, binge-level alcohol intoxication may increase sexual HIV risk by decreasing willingness to delay sex in order to acquire a condom in situations where one is not immediately available, and by decreasing sensitivity to perceived risk of STI contraction. These findings suggest that delay and probability discounting are critical, but heretofore unrecognized, processes that may mediate the relations between alcohol use and HIV risk. Copyright © 2016 by the Research Society on Alcoholism.

Accounting and Tax Issues Concerning Commercial Discounts

Directory of Open Access Journals (Sweden)

Sava Raluca

2015-12-01

Full Text Available Commercial discounts accounting presents a particular importance because, on the one hand, of their widely spread on a large scale in the commercial activity and on the second hand, due to the influence of the accounting and reporting method over the value added tax. The paper theoretically addresses commercial reductions and also their reflection in the accounting according with the latest regulations in force.

Discount rates and the education gradient in mammography in the UK.

Science.gov (United States)

Bíró, Anikó

2013-09-01

I analyse intertemporal decisions on undertaking breast cancer screening by women aged 50-64  years in the UK and provide estimates of the rate of discounting potential future benefits of screening. I also analyse education differences in mammography decisions and examine the underlying mechanisms by which education influences breast cancer screening attendance. I estimate a structural model, which reveals that although there are differences in the disutility of breast cancer screening between education groups, there is no difference in the estimated discount factor. These results suggest that the observed education gradient is mainly due to differences in health behaviours and healthcare attitudes. Copyright © 2013 John Wiley & Sons, Ltd.

Towards a social discount rate for the economic evaluation of health technologies in Germany: an exploratory analysis.

Science.gov (United States)

Schad, Mareike; John, Jürgen

2012-04-01

Over the last decades, methods for the economic evaluation of health care technologies were increasingly used to inform reimbursement decisions. For a short time, the German Statutory Health Insurance makes use of these methods to support reimbursement decisions on patented drugs. In this context, the discounting procedure emerges as a critical component of these methods, as discount rates can strongly affect the resulting incremental cost-effectiveness ratios. The aim of this paper is to identify the appropriate value of a social discount rate to be used by the German Statutory Health Insurance for the economic evaluation of health technologies. On theoretical grounds, we build on the widespread view of contemporary economists that the social rate of time preference (SRTP) is the adequate social discount rate. For quantifying the SRTP, we first apply the market behaviour approach, which assumes that the SRTP is reflected in observable market interest rates. As a second approach, we derive the SRTP from optimal growth theory by using the Ramsey equation. A major part of the paper is devoted to specify the parameters of this equation. Depending on various assumptions, our empirical findings result in the range of 1.75-4.2% for the SRTP. A reasonable base case discount rate for Germany, thus, would be about 3%. Furthermore, we deal with the much debated question whether a common discount rate for costs and health benefits or a lower rate for health should be applied in health economic evaluations. In the German social health insurance system, no exogenously fixed budget constraint does exist. When evaluating a new health technology, the health care decision maker is obliged to conduct an economic evaluation in order to examine whether there is an economically appropriate relation between the value of the health gains and the additional costs which are given by the value of the consumption losses due to the additional health care expenditures. Therefore, a discount

On the Expected Discounted Penalty Function for the Classical Risk Model with Potentially Delayed Claims and Random Incomes

Directory of Open Access Journals (Sweden)

Huiming Zhu

2014-01-01

Full Text Available We focus on the expected discounted penalty function of a compound Poisson risk model with random incomes and potentially delayed claims. It is assumed that each main claim will produce a byclaim with a certain probability and the occurrence of the byclaim may be delayed depending on associated main claim amount. In addition, the premium number process is assumed as a Poisson process. We derive the integral equation satisfied by the expected discounted penalty function. Given that the premium size is exponentially distributed, the explicit expression for the Laplace transform of the expected discounted penalty function is derived. Finally, for the exponential claim sizes, we present the explicit formula for the expected discounted penalty function.

Preliminary design of the Carrisa Plains solar central receiver power plant. Volume II. Plant specifications

Energy Technology Data Exchange (ETDEWEB)

Price, R. E.

1983-12-31

The specifications and design criteria for all plant systems and subsystems used in developing the preliminary design of Carrisa Plains 30-MWe Solar Plant are contained in this volume. The specifications have been organized according to plant systems and levels. The levels are arranged in tiers. Starting at the top tier and proceeding down, the specification levels are the plant, system, subsystem, components, and fabrication. A tab number, listed in the index, has been assigned each document to facilitate document location.

75 FR 61747 - Discount Energy Group, LLC; Supplemental Notice That Initial Market-Based Rate Filing Includes...

Science.gov (United States)

2010-10-06

... proceeding of Discount Energy Group, LLC's application for market-based rate authority, with an accompanying... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. ER10-2803-000] Discount Energy Group, LLC; Supplemental Notice That Initial Market-Based Rate Filing Includes Request for Blanket...

Solar system astrophysics background science and the inner solar system

CERN Document Server

Milone, Eugene F

2014-01-01

The second edition of Solar System Astrophysics: Background Science and the Inner Solar System provides new insights into the burgeoning field of planetary astronomy. As in the first edition, this volume begins with a rigorous treatment of coordinate frames, basic positional astronomy, and the celestial mechanics of two and restricted three body system problems. Perturbations are treated in the same way, with clear step-by-step derivations. Then the Earth’s gravitational potential field and the Earth-Moon system are discussed, and the exposition turns to radiation properties with a chapter on the Sun. The exposition of the physical properties of the Moon and the terrestrial planets are greatly expanded, with much new information highlighted on the Moon, Mercury, Venus, and Mars. All of the material is presented within a framework of historical importance. This book and its sister volume, Solar System Astrophysics: Planetary Atmospheres and the Outer Solar System, are pedagogically well written, providing cl...

Solar Pilot Plant, Phase I. Preliminary design report. Volume II. System description and system analysis. CDRL item 2

Energy Technology Data Exchange (ETDEWEB)

None

1977-05-01

Honeywell conducted a parametric analysis of the 10-MW(e) solar pilot plant requirements and expected performance and established an optimum system design. The main analytical simulation tools were the optical (ray trace) and the dynamic simulation models. These are described in detail in Books 2 and 3 of this volume under separate cover. In making design decisions, available performance and cost data were used to provide a design reflecting the overall requirements and economics of a commercial-scale plant. This volume contains a description of this analysis/design process and resultant system/subsystem design and performance.

Strategy iteration is strongly polynomial for 2-player turn-based stochastic games with a constant discount factor

DEFF Research Database (Denmark)

Hansen, Thomas Dueholm; Miltersen, Peter Bro; Zwick, Uri

2011-01-01

Ye showed recently that the simplex method with Dantzig pivoting rule, as well as Howard's policy iteration algorithm, solve discounted Markov decision processes (MDPs), with a constant discount factor, in strongly polynomial time. More precisely, Ye showed that both algorithms terminate after...... iterations. Second, and more importantly, we show that the same bound applies to the number of iterations performed by the strategy iteration (or strategy improvement) algorithm, a generalization of Howard's policy iteration algorithm used for solving 2-player turn-based stochastic games with discounted zero...

Pengembangan Model Persediaan Continuous Review dengan All-Unit Discount dan Faktor Kadaluwarsa

Directory of Open Access Journals (Sweden)

Cherish Rikardo

2017-06-01

Full Text Available Paper ini membahas suatu model matematika untuk suatu sistem persediaan dengan mempertimbangkan adanya all-unit discount dan faktor kadaluwarsa. Permintaan barang bersifat deterministik yang merupakan fungsi dari waktu dan bergantung pada jumlah persediaan yang ada (inventory dependent demand, laju kadaluwarsa barang juga bergantung pada waktu dan tidak ada lead time. Model yang dibahas merupakan pengembangan dari Nagare dan Dutta [9] dengan menambah faktor all-unit discount dan laju kadaluwarsa yang bergantung pada waktu. Dari model yang dikembangkan akan ditentukan kuantitas pemesanan (economic order quantity dan waktu antar pemesanan yang optimum yang meminimumkan total biaya persediaan tahunan. Algoritma penentuan solusi optimum dari model yang dikembangkan dan contoh numerik sebagai ilustrasi dari permasalahan persediaan ini diberikan. Analisis sensitivitas model dengan melihat pengaruh laju kadaluwarsa dan laju permintaan terhadap kuantitas dan waktu antar pemesanan yang optimal juga diberikan. Dari hasil analisis sensitivitas diperoleh bahwa semakin besar laju kadaluwarsa, maka waktu antar pemesanan menjadi semakin singkat dan kuantitas pemesanan menjadi semakin sedikit.  Hal yang sama terjadi jika laju permintaan barang semakin besar.   Kata kunci:  Persediaan, kadaluwarsa, all-unit discount.

The discount rate in the economic evaluation of prevention: a thought experiment.

Science.gov (United States)

Bonneux, L; Birnie, E

2001-02-01

In the standard economic model of evaluation, constant discount rates devalue the long term health benefits of prevention strongly. This study shows that it is unlikely that this reflects societal preference. A thought experiment in a cause elimination life table calculates savings of eliminating cardiovascular disease from the Dutch population. A cost effectiveness analysis calculates the acceptable costs of such an intervention at a threshold of 18 000 Euro per saved life year. Cause specific mortality (all cardiovascular causes of death and all other causes) and health care costs (all costs of cardiovascular disease and all other causes of costs) by age and male sex of 1994. At a 0% discount rate, an intervention eliminating cardiovascular disease may cost 71 100 Euro. At the same threshold but at discount rates of 3% or 6%, the same intervention may cost 8100 Euro (8.8 times less) or 1100 Euro (65 times less). The standard economic model needs more realistic duration dependent models of time preference, which reflect societal preference.

24 CFR 201.13 - Interest and discount points.

Science.gov (United States)

2010-04-01

.... Interest on the loan shall accrue from the date of the loan, and shall be calculated on a simple interest... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Interest and discount points. 201... TITLE I PROPERTY IMPROVEMENT AND MANUFACTURED HOME LOANS Loan and Note Provisions § 201.13 Interest and...

Statistical equivalence and test-retest reliability of delay and probability discounting using real and hypothetical rewards.

Science.gov (United States)

Matusiewicz, Alexis K; Carter, Anne E; Landes, Reid D; Yi, Richard

2013-11-01

Delay discounting (DD) and probability discounting (PD) refer to the reduction in the subjective value of outcomes as a function of delay and uncertainty, respectively. Elevated measures of discounting are associated with a variety of maladaptive behaviors, and confidence in the validity of these measures is imperative. The present research examined (1) the statistical equivalence of discounting measures when rewards were hypothetical or real, and (2) their 1-week reliability. While previous research has partially explored these issues using the low threshold of nonsignificant difference, the present study fully addressed this issue using the more-compelling threshold of statistical equivalence. DD and PD measures were collected from 28 healthy adults using real and hypothetical $50 rewards during each of two experimental sessions, one week apart. Analyses using area-under-the-curve measures revealed a general pattern of statistical equivalence, indicating equivalence of real/hypothetical conditions as well as 1-week reliability. Exceptions are identified and discussed. Copyright © 2013 Elsevier B.V. All rights reserved.

Beyond discounting: possible experimental models of impulse control.

Science.gov (United States)

Monterosso, J; Ainslie, G

1999-10-01

Animal studies of impulsivity have typically used one of three models: a delay of reward procedure, a differential reinforcement for low rate responding (DRL) procedure, or an autoshaping procedure. In each of these paradigms, we argue, measurement of impulsivity is implicitly or explicitly equated with the effect delay has on the value of reward. The steepness by which delay diminishes value (the temporal discount function) is treated as an index of impulsivity. In order to provide a better analog of human impulsivity, this model needs to be expanded to include the converse of impulsivity - self-control. Through mechanisms such as committing to long range interests before the onset of temptation, or through bundling individual choices into classes of choices that are made at once, human decision-making can often look far less myopic than single trial experiments predict. For people, impulsive behavior may be more often the result of the breakdown of self-control mechanisms than of steep discount functions. Existing animal models of self-control are discussed, and future directions are suggested for psychopharmacological research.

The grateful are patient: Heightened daily gratitude is associated with attenuated temporal discounting.

Science.gov (United States)

Dickens, Leah; DeSteno, David

2016-06-01

Past research has regularly linked the experience of affect to increased impatience and, thereby, decreased self-control. Given emerging work identifying the emotion gratitude as a fairly unique affective state capable of enhancing, rather than inhibiting, patience, the present study examined the association between chronically elevated gratitude and individual differences in temporal discounting. Participants' levels of gratitude were assessed in response to a standardized lab induction and then over a 3-week period prior to measurement of their financial patience in the form of an incentivized delay discounting task. Analyses revealed a strong relation between lab-based and naturally occurring gratitude levels, thereby confirming the validity of the daily online measures. Of import, mean levels of daily gratitude were significantly associated with increased patience in the form of decreased temporal discounting. As expected, no similar relation emerged for daily levels of happiness, thereby confirming the relative specificity of the positive state of gratitude. (PsycINFO Database Record (c) 2016 APA, all rights reserved).

Age Differences in Future Orientation and Delay Discounting

Science.gov (United States)

Steinberg, Laurence; Graham, Sandra; O'Brien, Lia; Woolard, Jennifer; Cauffman, Elizabeth; Banich, Marie

2009-01-01

Age differences in future orientation are examined in a sample of 935 individuals between 10 and 30 years using a delay discounting task as well as a new self-report measure. Younger adolescents consistently demonstrate a weaker orientation to the future than do individuals aged 16 and older, as reflected in their greater willingness to accept a…

MODERN INDICATORS DERIVED FROM VALUE CREATION AND DISCOUNTED

Directory of Open Access Journals (Sweden)

Cican Simona

2013-07-01

In this article, we will present the connection between discounted cash flow methods and the indicators derived from value creation, based on the business finance theory, which says that firm value will increase if projects with positive net present value are accepted, while it will be destroyed if projects with negative net present value are accepted.

Progress in passive solar energy systems. Volume 8. Part 1

Energy Technology Data Exchange (ETDEWEB)

Hayes, J.; Andrejko, D.A.

1983-01-01

This book presents the papers given at a conference sponsored by the US DOE, the Solar Energy Research Institute, SolarVision, Inc., and the Southern California Solar Energy Society. The topics considered at the conference included sizing solar energy systems for agricultural applications, a farm scale ethanol production plant, the EEC wind energy RandD program, the passive solar performance assessment of an earth-sheltered house, the ARCO 1 MW photovoltaic power plant, the performance of a dendritic web photovoltaic module, second generation point focused concentrators, linear fresnel lens concentrating photovoltaic collectors, photovoltaic conversion efficiency, amorphous silicon thin film solar cells, a photovoltaic system for a shopping center, photovoltaic power generation for the utility industry, spectral solar radiation, and the analysis of insolation data.

Investigating the Impact of Cognitive Load and Motivation on Response Control in Relation to Delay Discounting in Children with ADHD.

Science.gov (United States)

Martinelli, Mary K; Mostofsky, Stewart H; Rosch, Keri S

2017-10-01

Attention-deficit/hyperactivity disorder (ADHD) is characterized by deficits in impulse control across a range of behaviors, from simple actions to those involving complex decision-making (e.g., preference for smaller-sooner versus larger later rewards). This study investigated whether changes in motor response control with increased cognitive load and motivational contingencies are associated with decision-making in the form of delay discounting among 8-12 year old children with and without ADHD. Children with ADHD (n = 26; 8 girls) and typically developing controls (n = 40; 11 girls) completed a standard go/no-go (GNG) task, a GNG task with motivational contingencies, a GNG task with increased cognitive load, and two measures of delay discounting: a real-time task in which the delays and immediately consumable rewards are experienced in real-time, and a classic task involving choices about money at longer delays. Children with ADHD, particularly girls, exhibited greater delay discounting than controls during the real-time discounting task, whereas diagnostic groups did not significantly differ on the classic discounting task. The effect of cognitive load on response control was uniquely associated with greater discounting on the real-time task for children with ADHD, but not for control children. The effect of motivational contingencies on response control was not significantly associated with delay discounting for either diagnostic group. The findings from this study help to inform our understanding of the factors that influence deficient self-control in ADHD, suggesting that impairments in cognitive control may contribute to greater delay discounting in ADHD.

Cold-Climate Solar Domestic Hot Water Systems Analysis

Energy Technology Data Exchange (ETDEWEB)

Burch, J.; Salasovich, J.; Hillman, T.

2005-11-01

The Solar Heating and Lighting Sub-program has set the key goal to reduce the cost of saved energy [Csav, defined as (total cost, $)/(total discounted savings, kWh_thermal)] for solar domestic water heaters (SDWH) by at least 50%. To determine if this goal is attainable and prioritize R&D for cold-climate SDWH, life-cycle analyses were done with hypothetical lower-cost components in glycol, drainback, and thermosiphon systems. Balance-of-system (BOS, everything but the collector) measures included replacing metal components with polymeric versions and system simplification. With all BOS measures in place, Csav could be reduced more than 50% with a low-cost, selectively-coated, glazed polymeric collector, and slightly less than 50% with either a conventional selective metal-glass or a non-selective glazed polymer collector. The largest percent reduction in Csav comes from replacing conventional pressurized solar storage tanks and metal heat exchangers with un-pressurized polymer tanks with immersed polymer heat exchangers, which could be developed with relatively low-risk R&D.

On the expected discounted penalty functions for two classes of risk processes under a threshold dividend strategy

Science.gov (United States)

Lu, Zhaoyang; Xu, Wei; Sun, Decai; Han, Weiguo

2009-10-01

In this paper, the discounted penalty (Gerber-Shiu) functions for a risk model involving two independent classes of insurance risks under a threshold dividend strategy are developed. We also assume that the two claim number processes are independent Poisson and generalized Erlang (2) processes, respectively. When the surplus is above this threshold level, dividends are paid at a constant rate that does not exceed the premium rate. Two systems of integro-differential equations for discounted penalty functions are derived, based on whether the surplus is above this threshold level. Laplace transformations of the discounted penalty functions when the surplus is below the threshold level are obtained. And we also derive a system of renewal equations satisfied by the discounted penalty function with initial surplus above the threshold strategy via the Dickson-Hipp operator. Finally, analytical solutions of the two systems of integro-differential equations are presented.

Episodic Future Thinking about the Ideal Self Induces Lower Discounting, Leading to a Decreased Tendency toward Cheating.

Science.gov (United States)

Wu, Wen-Hsiung; Cheng, Wen; Chiou, Wen-Bin

2017-01-01

Delay discounting refers to a pervasive tendency toward preferring smaller immediate gains over larger future gains. Recent empirical research has shown that episodic future thinking (EFT; i.e., projecting oneself into the future to pre-experience forthcoming events) can reduce the tendency toward discounting. A common tenet of psychological theories of crime is that delinquency results from focusing on short-term gains while failing to consider adequately the longer-term consequences of delinquent behavior. We investigated whether an EFT intervention involving the ideal self could induce lower discounting rates and, as a consequence, reduced delinquency. The results showed that, compared with control participants, participants engaging in EFT, that is, envisaging life events that would be experienced by their ideal selves, exhibited a lower discounting rate in a monetary choice task (Experiments 1 and 2), as well as a decreased tendency to make delinquent choices in imaginary scenarios (Experiment 1) and cheat in a matrix task (Experiment 2). The discounting tendency mediated the relationship between engaging in EFT pertaining to the ideal self and the tendency toward morally questionable behavior (Experiments 1 and 2). The findings of the two experiments indicate that engagement in EFT with a focus on the ideal self is sufficient to induce lower discounting rates, by promoting consideration of distant costs and thus increasing resistance to delinquent involvement and cheating (given the temptation of the immediate benefits that may accrue from such behavior). The current research constitutes an innovative approach to delinquency prevention and the promotion of morality.

Food and beverage price discounts to improve health in remote Aboriginal communities: mixed method evaluation of a natural experiment.

Science.gov (United States)

Ferguson, Megan; O'Dea, Kerin; Holden, Stacey; Miles, Eddie; Brimblecombe, Julie

2017-02-01

Retrospectively evaluate food price discounts in remote Aboriginal community stores. Four price discount strategies of 10% were designed in 2010, aiming to influence grocery, fruit, vegetables and diet soft-drink sales. This natural experiment across a group of stores was evaluated using an explanatory, sequential mixed method design through analysis of store point-of-sale, document, observation and interview data. The outcome was measured by change in: 1) percentage of grocery sales to total food and beverage; 2) fruit and vegetable sales; and 3) diet soft-drink sales. Qualitative data enabled the interpretation of outcomes through understanding perceived success and benefits, and enablers and barriers to implementation. Eighteen community stores and 54 informants participated. While targeted price discounts were considered important to improving health, no discernible effect was evident, due to inadequate design and communication of discount promotion, and probably inadequate magnitude of discount. Strategy impact on food and beverage sales was limited by promotion and magnitude of discount. Implication for Public Health: This study demonstrates key factors and commitment required to design, communicate, implement and monitor strategies to improve health in this challenging remote retail context. Evaluation of natural experiments can contribute evidence to policy-making. © 2016 The Authors.

The association between cingulate cortex glutamate concentration and delay discounting is mediated by resting state functional connectivity

NARCIS (Netherlands)

Schmaal, L.; Goudriaan, A.E.; van der Meer, J.; van den Brink, W.; Veltman, D.J.

2012-01-01

Humans vary in their ability to delay gratification and impulsive decision making is a common feature in various psychiatric disorders. The level of delay discounting is a relatively stable psychological trait, and therefore neural processes implicated in delay discounting are likely to be based on

Dissociable roles of glucocorticoid and noradrenergic activation on social discounting.

Science.gov (United States)

Margittai, Zsofia; van Wingerden, Marijn; Schnitzler, Alfons; Joëls, Marian; Kalenscher, Tobias

2018-04-01

People often exhibit prosocial tendencies towards close kin and friends, but generosity decreases as a function of increasing social distance between donor and recipient, a phenomenon called social discounting. Evidence suggests that acute stress affects prosocial behaviour in general and social discounting in particular. We tested the causal role of the important stress neuromodulators cortisol (CORT) and noradrenaline (NA) in this effect by considering two competing hypotheses. On the one hand, it is possible that CORT and NA act in concert to increase generosity towards socially close others by reducing the aversiveness of the cost component in costly altruism and enhancing the emotional salience of vicarious reward. Alternatively, it is equally plausible that CORT and NA exert dissociable, opposing effects on prosocial behaviour based on prior findings implicating CORT in social affiliation, and NA in aggressive and antagonistic tendencies. We pharmacologically manipulated CORT and NA levels in a sample of men (N = 150) and found that isolated hydrocortisone administration promoted prosocial tendencies towards close others, reflected in an altered social discount function, but this effect was offset by concurrent noradrenergic activation brought about by simultaneous yohimbine administration. These results provide inceptive evidence for causal, opposing roles of these two important stress neuromodulators on prosocial behaviour, and give rise to the possibility that, depending on the neuroendocrine response profile, stress neuromodulator action can foster both tend-and-befriend and fight-or-flight tendencies at the same time. Copyright © 2018 Elsevier Ltd. All rights reserved.

Solar engineering 1994

International Nuclear Information System (INIS)

Klett, D.E.; Hogan, R.E.; Tanaka, Tadayoshi

1994-01-01

This volume of 83 papers constitutes the Proceedings of the 1994 International Solar Energy Conference held March 27--30, 1994 in San Francisco, California. The Conference was jointly sponsored by the Solar Energy Division of the American Society of Mechanical Engineers, The Japan Society of Mechanical Engineers and the Japan Solar Energy Society. This is the fourth cooperation between ASME, JSME and JSES in cosponsoring the International Solar Energy Conference. The papers cover a wide range of solar technologies from low temperature solar ponds and desalinization to high temperature concentrators for space applications and central receivers for terrestrial power generation. Other topics covered include solar detoxification of hazardous waste, dish Stirling systems, solar cooling, photovoltaics, building energy analysis and conservation, simulation, and testing and measurement techniques. All papers were indexed separately for the data base

German Grocery Discounters: Dynamics and Regional Impact. the Case of Schleswig-Holstein (Germany

Directory of Open Access Journals (Sweden)

Jürgens Ulrich

2014-12-01

Full Text Available Grocery discount stores have long dominated developments in the German food retail sector, and they continue to grow. This paper discusses the reasons for this long-term success based on internal decision-making parameters such as price, adjustment of product range, choice of location, and size of new stores. The result is significant customer acceptance, but also adverse developments viewed critically in various governance constellations. The paper is based on expert interviews and a comprehensive collection of data on grocery discount stores and supermarkets in the German federal state of Schleswig-Holstein

Analysis of the economic potential of solar thermal energy to provide industrial process heat. Final report, Volume I. [In-depth analysis of 78 industries

Energy Technology Data Exchange (ETDEWEB)

None

1977-02-07

The process heat data base assembled as the result of this survey includes specific process applications from 78 four-digit Standard Industrial Classification (SIC) groups. These applications account for the consumption of 9.81 quadrillion Btu in 1974, about 59 percent of the 16.6 quadrillion Btu estimated to have been used for all process heat in 1974. About 7/sup 1///sub 2/ percent of industrial process heat is used below 212/sup 0/F (100/sup 0/C), and 28 percent below 550/sup 0/F (288/sup 0/C). In this study, the quantitative assessment of the potential of solar thermal energy systems to provide industrial process heat indicates that solar energy has a maximum potential to provide 0.6 quadrillion Btu per year in 1985, and 7.3 quadrillion Btu per year in 2000, in economic competition with the projected costs of conventional fossil fuels for applications having a maximum required temperature of 550/sup 0/ (288/sup 0/C). A wide variety of collector types were compared for performance and cost characteristics. Performance calculations were carried out for a baseline solar system providing hot water in representative cities in six geographical regions within the U.S. Specific industries that should have significant potential for solar process heat for a variety of reasons include food, textiles, chemicals, and primary metals. Lumber and wood products, and paper and allied products also appear to have significant potential. However, good potential applications for solar process heat can be found across the board throughout industry. Finally, an assessment of nontechnical issues that may influence the use of solar process heat in industry showed that the most important issues are the establishment of solar rights, standardization and certification for solar components and systems, and resolution of certain labor-related issues. (Volume 1 of 3 volumes.)

Social interaction anxiety and the discounting of positive interpersonal events.

Science.gov (United States)

Vassilopoulos, Stephanos P; Banerjee, Robin

2010-10-01

Recent research has indicated that individuals with social interaction anxiety make biased interpretations of positive social interactions, with greater general apprehension in response to such events and more negative predictions about the future. There has also been some preliminary evidence for a second facet of interpretation bias, namely a failure to accept others' positive reactions at face value, but this has so far not been adequately studied. The present study developed a new measure of this "discounting" dimension and utilized a nonclinical sample of undergraduate students to provide an initial analysis of the scale. Results provide early support for the psychometric properties of our scale, and indicate that discounting mediates the relationship between social interaction anxiety and low positive affect, over and above the previously studied aspect of positive event interpretation bias. The implications for treatment interventions and further research are discussed.

Impacts of religious semantic priming on an intertemporal discounting task: Response time effects and neural correlates.

Science.gov (United States)

Morgan, Jonathan; Clark, Dustin; Tripodis, Yorghos; Halloran, Christopher S; Minsky, April; Wildman, Wesley J; Durso, Raymon; McNamara, Patrick

2016-08-01

The purpose of this study is to test the hypothesis that religious primes would influence intertemporal discounting behaviors in neurotypical older adults, but not in participants with Parkinson's disease (PD). Furthermore, we predicted that this priming effect would be related to functional connectivity within neural networks mediating religious cognition, decision-making, reward valuing, and prospection processes. Contrary to past research with young adults, we found a significant positive relationship between religiosity and discounting rates. Religious semantic primes did not reliably shift individual discounting rates. But religious controls did respond more quickly to intertemporal decisions under the religious priming condition than the neutral condition, compared to response time differences among the participants with PD. Differences in response time were significantly associated with functional connectivity between the nucleus accumbens and various regions, including the left anterior cingulate cortex and Brodmann areas 10 and 46 in the right dorsolateral prefrontal cortex. These results suggest that religious primes influence discounting behavior via dopaminergic meso-limbic and right dorsolateral prefrontal supporting cognitive valuation and prospection processes. Copyright © 2016 Elsevier Ltd. All rights reserved.

Steep Delay Discounting and Addictive Behavior: A Meta-Analysis of Continuous Associations

Science.gov (United States)

Amlung, Michael; Vedelago, Lana; Acker, John; Balodis, Iris; MacKillop, James

2016-01-01

Aims To synthesize continuous associations between delayed reward discounting (DRD) and both addiction severity and quantity-frequency (QF); to examine moderators of these relationships; and to investigate publication bias. Methods Meta-analysis of published studies examining continuous associations between DRD and addictive behaviors. Published, peer-reviewed studies on addictive behaviors (alcohol, tobacco, cannabis, stimulants, opiates, and gambling) were identified via PubMed, MEDLINE, and PsycInfo. Studies were restricted to DRD measures of monetary gains. Random effects meta-analysis was conducted using Pearson’s r as the effect size. Publication bias was evaluated using fail-safe N, Begg-Mazumdar and Egger’s tests, meta-regression of publication year and effect size, and imputation of missing studies. Results The primary meta-analysis revealed a small magnitude effect size that was highly significant (r = 0.14, p addictive behavior (p = 0.30) or DRD assessment (p = 0.90). Indices of publication bias suggested a modest impact of unpublished findings. Conclusions Delayed reward discounting is robustly associated with continuous measures of addiction severity and quantity-frequency. This relation is generally robust across type of addictive behavior and delayed reward discounting assessment modality. PMID:27450931

Conservation and solar energy program: congressional budget request, FY 1982

Energy Technology Data Exchange (ETDEWEB)

None

1981-01-01

Funding summaries are presented for the Conservation and Solar Energy Program funding information and program overview on energy conservation (Volume 7 of 7, DOE/CR-0011/2) are included for the Buildings and Community Systems, Industrial, Transportation; State and Local, Multi-Sector, Energy Impact Assistance, and Residential/Commercial retrofit programs. Funding information and program overviews on solar technology (Volume 2 of 7, DOE/CR-011/2) are included for Active and Passive Solar Heating and Cooling, Photovoltaics Energy Systems, Solar Thermal Power Systems, Biomass Energy Systems, Wind Energy Conversion Systems, Ocean Systems, Solar International Activities, Solar Information Systems, SERI Facility, MX-RES, Program Direction, and Alcohol Fuels programs. Information and overviews on energy production, demonstration, and distribution (Volume 6 of 7, DOE/CR-0011/2) are given for the solar program. A funding summary and a program overview are included for electrochemical and physical and chemical storage systems as appearing in DOE/CR-0011/2, Volume 3 of 7. Relevant tabulated data from the FY 1981. Request to the Congress are presented for Supplementals, Rescissions, and Deferrals. (MCW)

Welcome to professional courtesy discounts: the medical community's pandora's box.

Science.gov (United States)

Winkler, A D

1998-01-01

Recent government regulations on fraud and abuse have transformed the tradition of professional courtesy discounts into a legal minefield threatening to explode on the uninformed medical provider. This paper offers an understanding of the issues involved and provider options.

Cost Analysis of an Air Brayton Receiver for a Solar Thermal Electric Power System in Selected Annual Production Volumes

Science.gov (United States)

1981-01-01

Pioneer Engineering and Manufacturing Company estimated the cost of manufacturing and Air Brayton Receiver for a Solar Thermal Electric Power System as designed by the AiResearch Division of the Garrett Corporation. Production costs were estimated at annual volumes of 100; 1,000; 5,000; 10,000; 50,000; 100,000 and 1,000,000 units. These costs included direct labor, direct material and manufacturing burden. A make or buy analysis was made of each part of each volume. At high volumes special fabrication concepts were used to reduce operation cycle times. All costs were estimated at an assumed 100% plant capacity. Economic feasibility determined the level of production at which special concepts were to be introduced. Estimated costs were based on the economics of the last half of 1980. Tooling and capital equipment costs were estimated for ach volume. Infrastructure and personnel requirements were also estimated.

A discount ordering strategy in two-level supply chain: A case study of textile industry

Directory of Open Access Journals (Sweden)

Laleh Tashakori

2012-10-01

Full Text Available Supplier selection, inventory management and optimal lot sizing has been one of the most important issues in many industries especially in production planning issues associated with texture industry. The proposed model of this paper first introduces an algorithm to choose the best supplier and it determines the optimal lot size using discount strategy. The proposed model of this paper considers different influencing factors such as location, quality of materials, cost, and mutual trust for supplier selection, determines their relative importance weights and then a discounting method is used to determine the ordering lot-size. The preliminary results indicate that the proposed model of this paper can be implemented in texture industry, very efficiently since the ordering discount policy is not sensitive to changes on inventory holding and setup expenditures.

The selection problem for discounted Hamilton–Jacobi equations: some non-convex cases

KAUST Repository

Gomes, Diogo A.; Mitake, Hiroyoshi; Tran, Hung V.

2018-01-01

Here, we study the selection problem for the vanishing discount approximation of non-convex, first-order Hamilton–Jacobi equations. While the selection problem is well understood for convex Hamiltonians, the selection problem for non-convex Hamiltonians has thus far not been studied. We begin our study by examining a generalized discounted Hamilton–Jacobi equation. Next, using an exponential transformation, we apply our methods to strictly quasi-convex and to some non-convex Hamilton–Jacobi equations. Finally, we examine a non-convex Hamiltonian with flat parts to which our results do not directly apply. In this case, we establish the convergence by a direct approach.

The selection problem for discounted Hamilton–Jacobi equations: some non-convex cases

KAUST Repository

Gomes, Diogo A.

2018-01-26

Here, we study the selection problem for the vanishing discount approximation of non-convex, first-order Hamilton–Jacobi equations. While the selection problem is well understood for convex Hamiltonians, the selection problem for non-convex Hamiltonians has thus far not been studied. We begin our study by examining a generalized discounted Hamilton–Jacobi equation. Next, using an exponential transformation, we apply our methods to strictly quasi-convex and to some non-convex Hamilton–Jacobi equations. Finally, we examine a non-convex Hamiltonian with flat parts to which our results do not directly apply. In this case, we establish the convergence by a direct approach.

Manufacturing cost analysis of a parabolic dish concentrator (General Electric design) for solar thermal electric power systems in selected production volumes

Science.gov (United States)

1981-01-01

The manufacturing cost of a General Electric 12 meter diameter concentrator was estimated. This parabolic dish concentrator for solar thermal system was costed in annual production volumes of 100 - 1,000 - 5,000 - 10,000 - 50,000 100,000 - 400,000 and 1,000,000 units. Presented for each volume are the costs of direct labor, material, burden, tooling, capital equipment and buildings. Also presented is the direct labor personnel and factory space requirements. All costs are based on early 1981 economics.

The economic feasibility of price discounts to improve diet in Australian Aboriginal remote communities.

Science.gov (United States)

Magnus, Anne; Moodie, Marj L; Ferguson, Megan; Cobiac, Linda J; Liberato, Selma C; Brimblecombe, Julie

2016-04-01

To estimate the cost-effectiveness of fiscal measures applied in remote community food stores for Aboriginal Australians. Six price discount strategies on fruit, vegetables, diet drinks and water were modelled. Baseline diet was measured as 12 months' actual food sales data in three remote Aboriginal communities. Discount-induced changes in food purchases were based on published price elasticity data while the weight of the daily diet was assumed constant. Dietary change was converted to change in sodium and energy intake, and body mass index (BMI) over a 12-month period. Improved lifetime health outcomes, modelled for the remote population of Aboriginal and Torres Strait Islanders, were converted to disability adjusted life years (DALYs) saved using a proportional multistate lifetable model populated with diet-related disease risks and Aboriginal and Torres Strait Islander rates of disease. While dietary change was small, five of the six price discount strategies were estimated as cost-effective, below a $50,000/DALY threshold. Stakeholders are committed to finding ways to reduce important inequalities in health status between Aboriginal and Torres Strait Islanders and non-Indigenous Australians. Price discounts offer potential to improve Aboriginal and Torres Strait Islander health. Verification of these results by trial-based research coupled with consideration of factors important to all stakeholders is needed. © 2015 The Authors.

Discounted semi-Markov decision processes : linear programming and policy iteration

NARCIS (Netherlands)

Wessels, J.; van Nunen, J.A.E.E.

1975-01-01

For semi-Markov decision processes with discounted rewards we derive the well known results regarding the structure of optimal strategies (nonrandomized, stationary Markov strategies) and the standard algorithms (linear programming, policy iteration). Our analysis is completely based on a primal

Discounted semi-Markov decision processes : linear programming and policy iteration

NARCIS (Netherlands)

Wessels, J.; van Nunen, J.A.E.E.

1974-01-01

For semi-Markov decision processes with discounted rewards we derive the well known results regarding the structure of optimal strategies (nonrandomized, stationary Markov strategies) and the standard algorithms (linear programming, policy iteration). Our analysis is completely based on a primal

Discounting in agro-industrial complex. A methodological proposal for risk premium

Energy Technology Data Exchange (ETDEWEB)

Marques-Perez, I.; Guaita-Pradas, I.; Pérez-Salas, J.L.

2017-09-01

The estimation of the discount rate is decisive for a reliable economic valuation. The discount rate has to be adjusted for the risks related to the company, the sector which the company has its market, and the risks related to the investment project. We present a proposal to incorporate the risk premium to the discount rate. The novelty of the methodology is that difference risk groups according to activity as a factor to adjust the cost of capital to companies. The study applies the methodology to the Agro-Industrial Complex (AIC) in Spain. The AIC is formed by industries that add value to farming production. This sector’s economic success demands financial management techniques that assess risk. The conventional method responds neither to the heterogeneity of the economic activities that make up the AIC, nor to differentiating risk by groups. The proposed methodology distinguishes activity groups in accordance with the NACE (National Code of Economic Activities) and uses net profitability variability to distinguish the risk in each group. Our results demonstrate the various levels of risk per group. The results show that among all the groups that form the AIC there are wide differences between levels of risk; thus, the risk neutral groups present risk levels on the order of 150 times lower than the groups extreme risk levels.

Discounting in agro-industrial complex. A methodological proposal for risk premium

Directory of Open Access Journals (Sweden)

Inmaculada Marques-Perez

2017-04-01

Full Text Available The estimation of the discount rate is decisive for a reliable economic valuation. The discount rate has to be adjusted for the risks related to the company, the sector which the company has its market, and the risks related to the investment project. We present a proposal to incorporate the risk premium to the discount rate. The novelty of the methodology is that difference risk groups according to activity as a factor to adjust the cost of capital to companies. The study applies the methodology to the Agro-Industrial Complex (AIC in Spain. The AIC is formed by industries that add value to farming production. This sector’s economic success demands financial management techniques that assess risk. The conventional method responds neither to the heterogeneity of the economic activities that make up the AIC, nor to differentiating risk by groups. The proposed methodology distinguishes activity groups in accordance with the NACE (National Code of Economic Activities and uses net profitability variability to distinguish the risk in each group. Our results demonstrate the various levels of risk per group. The results show that among all the groups that form the AIC there are wide differences between levels of risk; thus, the risk neutral groups present risk levels on the order of 150 times lower than the groups extreme risk levels.

Discounting in agro-industrial complex. A methodological proposal for risk premium

International Nuclear Information System (INIS)

Marques-Perez, I.; Guaita-Pradas, I.; Pérez-Salas, J.L.

2017-01-01

The estimation of the discount rate is decisive for a reliable economic valuation. The discount rate has to be adjusted for the risks related to the company, the sector which the company has its market, and the risks related to the investment project. We present a proposal to incorporate the risk premium to the discount rate. The novelty of the methodology is that difference risk groups according to activity as a factor to adjust the cost of capital to companies. The study applies the methodology to the Agro-Industrial Complex (AIC) in Spain. The AIC is formed by industries that add value to farming production. This sector’s economic success demands financial management techniques that assess risk. The conventional method responds neither to the heterogeneity of the economic activities that make up the AIC, nor to differentiating risk by groups. The proposed methodology distinguishes activity groups in accordance with the NACE (National Code of Economic Activities) and uses net profitability variability to distinguish the risk in each group. Our results demonstrate the various levels of risk per group. The results show that among all the groups that form the AIC there are wide differences between levels of risk; thus, the risk neutral groups present risk levels on the order of 150 times lower than the groups extreme risk levels.

College Students Discount Money "Won" More than Money "Owed"

Science.gov (United States)

Weatherly, Jeffrey N.; Derenne, Adam; Terrell, Heather K.

2010-01-01

Evidence in the research literature indicates people may treat "won" money differently than they would their own money. The present study had a sample of 648 college students complete a delay-discounting task that involved the hypothetical monetary amounts of $1,000 or $100,000. Participants were asked repeatedly what amount they would…

Maximizing the model for Discounted Stream of Utility from ...

African Journals Online (AJOL)

Osagiede et al. (2009) considered an analytic model for maximizing discounted stream of utility from consumption when the rate of production is linear. A solution was provided to a level where methods of solving order differential equations will be applied, but they left off there, as a result of the mathematical complexity ...

Watch for pitfalls of discounted cash flow techniques.

Science.gov (United States)

Chow, C W; McNamee, A H

1991-04-01

Discounted cash flow (DCF) techniques can enhance the effectiveness of a healthcare organization's capital budgeting decisions. But a financial manager unaware of common misapplications of DCF techniques may make capital decisions with a hidden bias against long-term projects, an inaccurate evaluation of options, or inappropriate estimations of expected inflation and risk. Social and psychological factors also can impede effective decisions on projects already introduced.

Effects of NMDA receptor antagonists on probability discounting depend on the order of probability presentation.

Science.gov (United States)

Yates, Justin R; Breitenstein, Kerry A; Gunkel, Benjamin T; Hughes, Mallory N; Johnson, Anthony B; Rogers, Katherine K; Shape, Sara M

Risky decision making can be measured using a probability-discounting procedure, in which animals choose between a small, certain reinforcer and a large, uncertain reinforcer. Recent evidence has identified glutamate as a mediator of risky decision making, as blocking the N-methyl-d-aspartate (NMDA) receptor with MK-801 increases preference for a large, uncertain reinforcer. Because the order in which probabilities associated with the large reinforcer can modulate the effects of drugs on choice, the current study determined if NMDA receptor ligands alter probability discounting using ascending and descending schedules. Sixteen rats were trained in a probability-discounting procedure in which the odds against obtaining the large reinforcer increased (n=8) or decreased (n=8) across blocks of trials. Following behavioral training, rats received treatments of the NMDA receptor ligands MK-801 (uncompetitive antagonist; 0, 0.003, 0.01, or 0.03mg/kg), ketamine (uncompetitive antagonist; 0, 1.0, 5.0, or 10.0mg/kg), and ifenprodil (NR2B-selective non-competitive antagonist; 0, 1.0, 3.0, or 10.0mg/kg). Results showed discounting was steeper (indicating increased risk aversion) for rats on an ascending schedule relative to rats on the descending schedule. Furthermore, the effects of MK-801, ketamine, and ifenprodil on discounting were dependent on the schedule used. Specifically, the highest dose of each drug decreased risk taking in rats in the descending schedule, but only MK-801 (0.03mg/kg) increased risk taking in rats on an ascending schedule. These results show that probability presentation order modulates the effects of NMDA receptor ligands on risky decision making. Copyright © 2016 Elsevier Inc. All rights reserved.

Intergenerational transfers and the social discount rate

International Nuclear Information System (INIS)

Howarth, R.B.; Norgaard, R.B.

1992-08-01

This paper investigates the relationship between intergenerational asset transfers and the choice of the discount rate for use in cost-benefit analysis in a model of a competitive overlapping generations economy constrained by a socially managed exhaustible resource. Provided that there are no distortions in capital markets and that all agents hold perfect foresight, cost-benefit techniques will result in a Pareto efficient resource allocation if the discount rate is set equal to the market rate of interest. But since the path of the interest rate depends on the level of intergenerational transfers, cost-benefit techniques do not ensure a socially desirable distribution of welfare between generations; a social optimum will result only if intergenerational transfers are properly chosen and enforced. Decentralized private altruism may result in intergenerational transfers that both present and future individuals would agree are too small if members of the present generation attach positive weight to the general welfare of future generations, not simply their personal descendants. In a world where intergenerational transfers are non-optimal, second-best policy-making may imply a constrained optimum that is inefficient. Together, these findings suggest that cost-benefit analysis is at best a partial criterion to policy formulation that should be used only in conjunction with ethical principles that define the proper distribution of welfare between present and future generations

Solar thermal technology report, FY 1981. Volume 1: Executive summary

Science.gov (United States)

1982-01-01

The activities of the Department of Energy's Solar Thermal Technology Program are discussed. Highlights of technical activities and brief descriptions of each technology are given. Solar thermal conversion concepts are discussed in detail, particularily concentrating collectors and salt-gradient solar ponds.

Joint Economic Lot Sizing Optimization in a Supplier-Buyer Inventory System When the Supplier Offers Decremental Temporary Discounts

Directory of Open Access Journals (Sweden)

Diana Puspita Sari

2012-02-01

Full Text Available This research discusses mathematical models of joint economic lot size optimization in a supplier-buyer inventory system in a situation when the supplier offers decremental temporary discounts during a sale period. Here, the sale period consists of n phases and the phases of discounts offered descend as much as the number of phases. The highest discount will be given when orders are placed in the first phase while the lowest one will be given when they are placed in the last phase. In this situation, the supplier attempts to attract the buyer to place orders as early as possible during the sale period. The buyers will respon these offers by ordering a special quantity in one of the phase. In this paper, we propose such a forward buying model with discount-proportionally-distributed time phases. To examine the behaviour of the proposed model, we conducted numerical experiments. We assumed that there are three phases of discounts during the sale period. We then compared the total joint costs of special order placed in each phase for two scenarios. The first scenario is the case of independent situation – there is no coordination between the buyer and the supplie-, while the second scenario is the opposite one, the coordinated model. Our results showed the coordinated model outperform the independent model in terms of producing total joint costs. We finally conducted a sensitivity analyzis to examine the other behaviour of the proposed model. Keywords: supplier-buyer inventory system, forward buying model, decremental temporary discounts, joint economic lot sizing, optimization.

Manipulating the discount rate when valuing international investment projects

Directory of Open Access Journals (Sweden)

A. A. Medved

2017-01-01

Full Text Available The article deals with the practice of evaluation of international investment projects using the cash flow discounting rate. The problem of the discount rate manipulating is connected with the category “country risk”, which often determines the impact on the rate and, accordingly, the investment decisions. Critically examines existing approaches to the definition of “country risk”. Categories that make up a complete picture of “country risk” are distinguished. The general defect of existing country risk concepts is revealed – the fact that the measurements are based on rather subjective assessments and do not have sufficient empirical evidence, the fact that almost all of them have a clear liberal democratic bias: as a rule, drawing attention to the relationship between the political system and stability, the liberal democratic structure of society is recognized as the most stable, without any acceptable scientific evidence, followed by autocracy, military dictatorships and new independent states. The author affirms the lack of a clear and unambiguous definition of this category, the controversial approach to ranking of countries. The author analyzes and proves the bias of rating assigned by foreign companies. As a conclusion the need to create a national research concept of the “country risk” category is аffirms with the subsequent promotion of national rating agencies to the world market. The author's conception of the category “country risk” is proposed, an author's definition is given to this notion, it is recommended to establish the primacy of national ratings over foreign ones both in domestic and international relations in order to have independent influence on international capital flows. It is also proposed the evaluation of projects based on the dynamic discounting rates, especially for long-term strategic projects.

Market and Impact Study Setting Up MMX Discount Store

OpenAIRE

Sabina Irimie; Andreea Ionică; Virginia Băleanu; Cristina Osvath

2008-01-01

The paper is focused on the following elements of the impact study’s content: social and economic features of the area and the social, economic and commercial impact. Currently we witness the materialisation of the research’s results by setting up such a store MMX DISCOUNT in the town of Vulcan from the Jiu Valley

Deeply discounted medications: Implications of generic prescription drug wars.

Science.gov (United States)

Czechowski, Jessica L; Tjia, Jennifer; Triller, Darren M

2010-01-01

To describe the history of generic prescription pricing programs at major pharmacy chains and their potential implications on prescribing, quality of care, and patient safety. Publicly available generic prescription discount program drug lists as of May 1, 2009. Fierce competition among major pharmacy chains such as Walgreens, CVS, and Walmart has led to a generic prescription pricing war with unclear public health implications. Introduced in 2006, currently 7 of the 10 largest pharmacy chains advertise a version of a deeply discounted medication (DDM) program, accounting for more than 25,000 locations nationally. By early 2008, almost 70 million Americans had used these programs. Although DDM programs lower drug costs for many patients, DDM formularies include potentially ineffective or harmful medications, have the potential to influence physician prescribing behavior, and may impair pharmacists' ability to review complete drug-dispensing records. DDMs are widespread but have the potential for unintended consequences on patients, providers, and the health care system. A systematic review of DDMs needs to evaluate the clinical, economic, and system-level implications of such programs.

Photovoltaic energy: environmental and economic analysis of axis solar trackers for photovoltaic installations; Energia fotovoltaica: analise economica ambiental de seguidores solares para instalacoes fotovoltaicas

Energy Technology Data Exchange (ETDEWEB)

Paes, Andrea Galvao; Bertolon, Expedito; Pacca, Sergio [Universidade de Sao Paulo (EACH/USP), SP (Brazil). Escola de Artes, Ciencias e Humanidades. Curso de Gestao Ambiental

2008-07-01

In this work we present an economic assessment photovoltaic systems using single axis and dual axis solar trackers. The analysis was carried out for the city of Sao Paulo and the results show that in comparison with fixed installations, the single axis system and the dual axis system produce respectively 19.6% and 24.7% more power. The power output of the dual axis system is 4.3% greater than the power output of the single axis system. Considering an annual discount rate of 12% and the equipment cost, the cost of the surplus energy due to the use of the single axis and the dual axis trackers was R$0.25/kWh and R$0.18/kWh. Because the average cost of electricity produced by photovoltaic modules is R$3/kWh, we recommend the installation of solar trackers. (author)

How hyperbolic discounting preference affects Chinese consumers’ consumption choice between conventional and electric vehicles

International Nuclear Information System (INIS)

Wu, Tian; Shang, Zhe; Tian, Xin; Wang, Shouyang

2016-01-01

This paper presents a theoretical model and addresses several issues related to life cycle cost analysis to illustrate how time-inconsistent preferences affect consumer choice. The particular case study selects involved consumer choice between a vehicle with high initial acquisition cost but low ownership cost (e.g., an Electric Vehicle, EV) and one with a low initial acquisition cost but high ownership cost (e.g., a conventional Internal Combustion Engine Vehicle, ICEV). To test our theoretical analysis, we conduct an empirical study on how time discounting rates affect consumer choice between ICEVs and EVs with different initial cost ratios. From the survey results, we find that individuals with higher present bias showed irrational purchase behavior even when controlling for wealth level. Specifically, people making some “stronger bias to present” decisions chose higher total cost ICEVs with lower initial cost but higher ownership cost over lower total cost EVs with higher initial cost and lower ownership cost. However, people’s long-term discount is not correlated with irrational vehicle purchase behavior. Furthermore, we study the present bias and long-term discount rate in one scenario and found present bias to be correlated with irrational behavior. - Highlights: • Theoretical model and survey based on psychological experiment are used for study. • Time inconsistency preferences may affect consumers' rational purchasing choice. • Present bias is correlated with irrational behavior, but long-term discount is not.

Strategy Iteration Is Strongly Polynomial for 2-Player Turn-Based Stochastic Games with a Constant Discount Factor

DEFF Research Database (Denmark)

Hansen, Thomas Dueholm; Miltersen, Peter Bro; Zwick, Uri

2013-01-01

Ye [2011] showed recently that the simplex method with Dantzig’s pivoting rule, as well as Howard’s policy iteration algorithm, solve discounted Markov decision processes (MDPs), with a constant discount factor, in strongly polynomial time. More precisely, Ye showed that both algorithms terminate...... terminates after at most O(m1−γ log n1−γ) iterations. Second, and more importantly, we show that the same bound applies to the number of iterations performed by the strategy iteration (or strategy improvement) algorithm, a generalization of Howard’s policy iteration algorithm used for solving 2-player turn-based...... for 2-player turn-based stochastic games; it is strongly polynomial for a fixed discount factor, and exponential otherwise....

Probing the Solar Interior

Indian Academy of Sciences (India)

Home; Journals; Resonance – Journal of Science Education; Volume 3; Issue 3. Probing the Solar Interior Hearing the Heartbeats of the Sun. Ashok Ambastha. General ... Author Affiliations. Ashok Ambastha1. Joint In-Charge Udaipur Solar Observatory Physical Research laboratory P.O. Box No. 198 Udaipur 313 001, India ...

Solar Central Receiver Hybrid Power Systems sodium-cooled receiver concept. Final report. Volume II, Book 2. Conceptual design, Sections 5 and 6

Energy Technology Data Exchange (ETDEWEB)

None

1980-01-01

The overall, long-term objective of the Solar Central Receiver Hybrid Power System program is to identify, characterize, and ultimately demonstrate the viability and cost effectiveness of solar/fossil, steam Rankine cycle, hybrid power systems that: (1) consist of a combined solar central receiver energy source and a nonsolar energy source at a single, common site, (2) may operate in the base, intermediate, and peaking capacity modes, (3) produce the rated output independent of variations in solar insolation, (4) provide a significant savings (50% or more) in fuel consumption, and (5) produce power at the minimum possible cost in mills/kWh. It is essential that these hybrid concepts be technically feasible and economically competitive with other systems in the near to mid-term time period (1985-1990) on a commercial scale. The program objective for Phase I is to identify and conceptually characterize solar/fossil steam Rankine cycle, commercial-scale, power plant systems that are economically viable and technically feasible. This volume contains the detailed conceptual design and cost/performance estimates and an assessment of the commercial scale solar central receiver hybrid power system. (WHK)

Cigarette brand preference as a function of price among smoking youths in Canada: are they smoking premium, discount or native brands?

Science.gov (United States)

Leatherdale, S T; Ahmed, R; Barisic, A; Murnaghan, D; Manske, S

2009-12-01

Given that little is known about the price-related cigarette brand preferences of youths, the current study seeks to characterise cigarette brand preferences and examine factors associated with smoking discount or native cigarette brands among Canadian youths who are current smokers. This study used nationally representative data collected from 71,003 grade 5-12 students as part of the 2006-7 Canadian Youth Smoking Survey (YSS). Using data from current smokers, logistic regression models were used to examine factors associated with smoking discount or native cigarette brands relative to premium cigarette brands. In 2006, premium cigarettes were the most prevalent brand of cigarette youths report usually smoking (49.4%); a substantial number of youths do report usually smoking either discount (12.9%) or native (9.3%) cigarette brands. Occasional smokers were more likely to report usually smoking premium cigarettes whereas daily smokers were more likely to report smoking either discount or native cigarettes. In particular, discount and native brands appear to be appealing among smoking youths with less spending money or those who are heavier smokers compared to youths smoking premium brands. Discount and native cigarette brands are commonly used by a substantial number of smoking youths in Canada. Additional research is required to better understand the reasons behind different cigarette brand preferences and how youths are able to access premium, discount and illicit native cigarettes. Moreover, ongoing surveillance of the cigarette brand preferences of youths is required for guiding future tobacco control policy and programming activities.

Price discounts significantly enhance fruit and vegetable purchases when combined with nutrition education: a randomized controlled supermarket trial.

Science.gov (United States)

Waterlander, Wilma E; de Boer, Michiel R; Schuit, Albertine J; Seidell, Jacob C; Steenhuis, Ingrid H M

2013-04-01

Reducing fruit and vegetable (F&V) prices is a frequently considered policy to improve dietary habits in the context of health promotion. However, evidence on the effectiveness of this intervention is limited. The objective was to examine the effects of a 50% price discount on F&Vs or nutrition education or a combination of both on supermarket purchases. A 6-mo randomized controlled trial within Dutch supermarkets was conducted. Regular supermarket shoppers were randomly assigned to 1 of 4 conditions: 50% price discounts on F&Vs, nutrition education, 50% price discounts plus nutrition education, or no intervention. A total of 199 participants provided baseline data; 151 (76%) were included in the final analysis. F&V purchases were measured by using supermarket register receipts at baseline, at 1 mo after the start of the intervention, at 3 mo, at 6 mo (end of the intervention period), and 3 mo after the intervention ended (9 mo). Adjusted multilevel models showed significantly higher F&V purchases (per household/2 wk) as a result of the price discount (+3.9 kg; 95% CI: 1.5, 6.3 kg) and the discount plus education intervention (+5.6 kg; 95% CI: 3.2, 7.9 kg) at 6 mo compared with control. Moreover, the percentage of participants who consumed recommended amounts of F&Vs (≥400 g/d) increased from 42.5% at baseline to 61.3% at 6 mo in both discount groups (P = 0.03). Education alone had no significant effect. Discounting F&Vs is a promising intervention strategy because it resulted in substantially higher F&V purchases, and no adverse effects were observed. Therefore, pricing strategies form an important focus for future interventions or policy. However, the long-term effects and the ultimate health outcomes require further investigation. This trial was registered at the ISRCTN Trial Register as number ISRCTN56596945 and at the Dutch Trial Register (http://www.trialregister.nl/trialreg/index.asp) as number NL22568.029.08.

26 CFR 1.163-3 - Deduction for discount on bond issued on or before May 27, 1969.

Science.gov (United States)

2010-04-01

... case of a callable bond, at the earlier call date) over the issue price of the bond (as defined in... 26 Internal Revenue 2 2010-04-01 2010-04-01 false Deduction for discount on bond issued on or... and Corporations § 1.163-3 Deduction for discount on bond issued on or before May 27, 1969. (a...

APPLICATION OF DIVIDEND DISCOUNT MODEL VALUATION AT MACEDONIAN STOCK-EXCHANGE

Directory of Open Access Journals (Sweden)

Zoran Ivanovski

2015-06-01

Full Text Available Dividend discount model (DDM is the simplest model for valuing equities in finance. Many analysts belived that DDM is outmoded, but much of the intuition that drives Discounted Cash Flow (DCF valuation is embedded in the DDM model. There are also specific companies stocks where the DDM model remains a useful tool for estimating value. The basic task of these research is to examine if DDM models offer relevant and safe valuation of long-term securities at Macedonian Stock Exchange (MSE through the process of empirical valuation of random chosen stocks. This research helped us to identify problems in use of DDM valuation models at MSE, to determine causes for differences between the intrinsic values and the stock market prices and to determine basic parameters for implementation of valuation on Macedonian financial market. We find that DDM models are usefull only as additional tool beside relative and DCF stocks valuation at MSE.

Delay discounting, impulsiveness, and addiction severity in opioid-dependent patients.

Science.gov (United States)

Robles, Elias; Huang, B Emma; Simpson, Pippa M; McMillan, Donald E

2011-12-01

Individuals who abuse drugs show higher delay discounting (DD) rate and impulsiveness scores compared with controls; however, it is unclear if DD rate covaries with severity of the addiction or if an individual's discounting rate can be changed by effective substance abuse treatment. This study compared methadone maintenance treatment (MMT) patients (n = 30) who had not used illegal drugs for 2 years with drug-using MMT patients (n = 30) and controls (n = 25) in terms of addiction severity, DD rate, and impulsiveness. Methadone patients abstinent from illegal drugs scored significantly lower on a number of addiction severity measures than the drug-using methadone patients. In addition, both groups of MMT patients showed significantly higher rates of DD and impulsiveness than the control group; however, no differences in DD rate or impulsiveness were found between the groups of patients. Results suggest that DD rate and impulsiveness may not covary with indicators of addiction severity in MMT patients. Published by Elsevier Inc.

Solar Central Receiver Hybrid Power Systems sodium-cooled receiver concept. Final report. Volume II, Book 1. Conceptual design, Sections 1 through 4

Energy Technology Data Exchange (ETDEWEB)

None

1980-01-01

The overall, long-term objective of the Solar Central Receiver Hybrid Power System program is to identify, characterize, and ultimately demonstrate the viability and cost effectiveness of solar/fossil, steam Rankine cycle, hybrid power systems that: (1) consist of a combined solar central receiver energy source and a nonsolar energy source at a single, common site, (2) may operate in the base, intermediate, and peaking capacity modes, (3) produce the rated output independent of variations in solar insolation, (4) provide a significant savings (50% or more) in fuel consumption, and (5) produce power at the minimum possible cost in mills/kWh. It is essential that these hybrid concepts be technically feasible and economically competitive with other systems in the near to mid-term time period (1985-1990) on a commercial scale. The program objective for Phase I is to identify and conceptually characterize solar/fossil steam Rankine cycle, commercial-scale, power plant systems that are economically viable and technically feasible. This volume presents in detail the market analysis, parametric analysis, and the selection process for the preferred system. (WHK)

Was it worthwhile? Where have the benefits of rooftop solar photovoltaic generation exceeded the cost?

Science.gov (United States)

Vaishnav, Parth; Horner, Nathaniel; Azevedo, Inês L.

2017-09-01

We estimate the lifetime magnitude and distribution of the private and public benefits and costs of currently installed distributed solar PV systems in the United States. Using data for recently-installed systems, we estimate the balance of benefits and costs associated with installing a non-utility solar PV system today. We also study the geographical distribution of the various subsidies that are made available to owners of rooftop solar PV systems, and compare it to distributions of population and income. We find that, after accounting for federal subsidies and local rebates and assuming a discount rate of 7%, the private benefits of new installations will exceed private costs only in seven of the 19 states for which we have data and only if customers can sell excess power to the electric grid at the retail price. These states are characterized by abundant sunshine (California, Texas and Nevada) or by high electricity prices (New York). Public benefits from reduced air pollution and climate change impact exceed the costs of the various subsidies offered system owners for less than 10% of the systems installed, even assuming a 2% discount rate. Subsidies flowed disproportionately to counties with higher median incomes in 2006. In 2014, the distribution of subsidies was closer to that of population income, but subsidies still flowed disproportionately to the better-off. The total, upfront, subsidy per kilowatt of installed capacity has fallen from 5200 in 2006 to 1400 in 2014, but the absolute magnitude of subsidy has soared as installed capacity has grown explosively. We see considerable differences in the balance of costs and benefits even within states, indicating that local factors such as system price and solar resource are important, and that policies (e.g. net metering) could be made more efficient by taking local conditions into account.

Solar energy research and development: program balance. Annex, Volume I

Energy Technology Data Exchange (ETDEWEB)

None

1978-02-01

An evaluation of federal research, development, and demonstration options on solar energy is presented. This assessment treats seven groups of solar energy technologies: solar heating and cooling of buildings, agricultural and industrial process heat, biomass, photovoltaics, thermal power, wind, and ocean thermal energy conversion. The evaluation methodology is presented in detail. (MHR)

Delay discounting, risk-taking, and rejection sensitivity among individuals with Internet and Video Gaming Disorders.

Science.gov (United States)

Weinstein, Aviv; Abu, Hodaya Ben; Timor, Ayelet; Mama, Yaniv

2016-12-01

Background and aims There is a previous evidence for impulsivity in individuals with Internet and Video Gaming Disorders. The aim of this study was to examine whether Internet and video game addictions are associated with experiential delay discounting, risk-taking, and sensitivity to social rejection using computerized tasks and questionnaires. Methods Twenty participants (mean age 24, SD = 1.55) with high score on the Problematic Online Gaming Questionnaire (POGQ) were compared with 20 participants (mean age 24.8, SD = 1.34) with low score on the POGQ. They performed on computerized Balloon Analog Risk Task and Experiential Delay discounting Task (EDT), and filled in the sensitivity to social rejection questionnaire. Results Participants with high POGQ scores had lower measures of delay discounting, higher measures of risk-taking, and higher measures of sensitivity to social rejection compared with participants with low POGQ scores. Discussion The results of this study support the previous evidence of risk-taking and provide new evidence for difficulties in delay discounting and sensitivity to social rejection among those who score high on Internet and video games. Conclusions The results suggest that Internet- and video game-addicted individuals seek immediate gratification and cannot wait for later reward. Furthermore, these individuals spend time in the virtual world, where they feel safe, and avoid social interactions presumably due to fears of social rejection.

The impact of education on subjective discount rate in Ugandan villages

Czech Academy of Sciences Publication Activity Database

Bauer, Michal; Chytilová, J.

2010-01-01

Roč. 58, č. 4 (2010), s. 643-669 ISSN 0013-0079 R&D Projects: GA MŠk LC542 Keywords : education * subjective discount rate * rural populations * Uganda Subject RIV: AH - Economics Impact factor: 1.392, year: 2010

Progress in batteries and solar cells. Volume 5

International Nuclear Information System (INIS)

Shimotake, H.

1984-01-01

The 89 articles in this book are on research in batteries, solar cells and fuel cells. Topics include uses of batteries in electric powered vehicles, load management in power plants, batteries for miniature electronic devices, electrochemical processes, and various electrode and electrolyte materials, including organic compounds. Types of batteries discussed are lithium, lead-acid, manganese dioxide, Silver cells, Air cells, Nickel cells and solar cells. Problems of recharging and life cycle are also discussed

Comparison of Biomarkers of Tobacco Exposure between Premium and Discount Brand Cigarette Smokers in the NHANES 2011-2012 Special Sample.

Science.gov (United States)

Wasserman, Emily J; Reilly, Samantha M; Goel, Reema; Foulds, Jonathan; Richie, John P; Muscat, Joshua E

2018-05-01

Background: Increased cigarette costs have inadvertently strengthened the appeal of discounted brands to price-sensitive smokers. Although smokers perceive discounted brands as having poorer quality, little is known about their delivery of toxic tobacco smoke constituents compared with premium-branded tobacco products. Methods: We investigated the differences between discount and premium brand smokers using the National Health and Nutrition Examination Survey 2011-2012 Special Smoker Sample. Our analyses focused on demographic differences and 27 biomarkers of harmful and potentially harmful constituents (HPHC) listed by the FDA, including volatile organic compounds, 4-(methylnitrosamino)-1-(3-pyridyl)-1-butanol and its glucuronide [4-(methylnitrosamino)-1-(3-pyridyl)-1-butanol glucuronide; reported as total NNAL (tNNAL)], metals, and polycyclic aromatic hydrocarbons (PAHs). Data were analyzed using linear regression models adjusting for potential confounders. Results: A total of 976 non-tobacco users and 578 recent cigarette smokers were eligible for analysis, of which 141 (26.0% weighted) smoked discount brand cigarettes and 437 (74.0% weighted) smoked premium. Discount brand smokers were older, predominantly non-Hispanic white, and had higher serum cotinine. Discount brand smokers had significantly higher levels of 13 smoking-related biomarkers, including tNNAL, uranium, styrene, xylene, and biomarkers of exposure to PAHs (naphthalene, fluorene, and phenanthrene), compared with premium brand smokers. Conclusions: These findings suggest that discount cigarette use is associated with higher exposure to several carcinogenic and toxic HPHCs. Impact: These results may have important regulatory implications for product standards, as higher exposures could lead to a greater degree of harm. Cancer Epidemiol Biomarkers Prev; 27(5); 601-9. ©2018 AACR . ©2018 American Association for Cancer Research.

Analisi Pengaruh Store Name, Brand Name, Dan Price Discounts Terhadap Purchase Intentions Konsumen Infinite Tunjungan Plaza

OpenAIRE

Gunawan, Andy

2013-01-01

Andy Gunawan:SkripsiAnalisis pengaruh store name, brand name dan price discounts terhadap purchase intention konsumen infnite tunjungan plaza Di era globalisasi ini, persaingan dagang antara Perusahaan – Perusahaan baik lokal maupun global menjadi semakin ketat, oleh karena itu Perusahaan selalu berusaha untuk meningkatkan ketertarikan minat beli konsumen. Beberapa variabel yang menjadi fokus Perusahaan adalah store name, brand name, dan price discount. Tujuan penelitian ini adalah untuk meng...

A Monte Carlo method and finite volume method coupled optical simulation method for parabolic trough solar collectors

International Nuclear Information System (INIS)

Liang, Hongbo; Fan, Man; You, Shijun; Zheng, Wandong; Zhang, Huan; Ye, Tianzhen; Zheng, Xuejing

2017-01-01

Highlights: •Four optical models for parabolic trough solar collectors were compared in detail. •Characteristics of Monte Carlo Method and Finite Volume Method were discussed. •A novel method was presented combining advantages of different models. •The method was suited to optical analysis of collectors with different geometries. •A new kind of cavity receiver was simulated depending on the novel method. -- Abstract: The PTC (parabolic trough solar collector) is widely used for space heating, heat-driven refrigeration, solar power, etc. The concentrated solar radiation is the only energy source for a PTC, thus its optical performance significantly affects the collector efficiency. In this study, four different optical models were constructed, validated and compared in detail. On this basis, a novel coupled method was presented by combining advantages of these models, which was suited to carry out a mass of optical simulations of collectors with different geometrical parameters rapidly and accurately. Based on these simulation results, the optimal configuration of a collector with highest efficiency can be determined. Thus, this method was useful for collector optimization and design. In the four models, MCM (Monte Carlo Method) and FVM (Finite Volume Method) were used to initialize photons distribution, as well as CPEM (Change Photon Energy Method) and MCM were adopted to describe the process of reflecting, transmitting and absorbing. For simulating reflection, transmission and absorption, CPEM was more efficient than MCM, so it was utilized in the coupled method. For photons distribution initialization, FVM saved running time and computation effort, whereas it needed suitable grid configuration. MCM only required a total number of rays for simulation, whereas it needed higher computing cost and its results fluctuated in multiple runs. In the novel coupled method, the grid configuration for FVM was optimized according to the “true values” from MCM of

A comparison of probability of ruin and expected discounted utility ...

African Journals Online (AJOL)

Individuals in defined-contribution retirement funds currently have a number of options as to how to finance their post-retirement spending. The paper considers the ranking of selected annuitisation strategies by the probability of ruin and by expected discounted utility under different scenarios. 'Ruin' is defined as occurring ...

Concave utility, transaction costs, and risk in measuring discounting of delayed rewards.

Science.gov (United States)

Kirby, Kris N; Santiesteban, Mariana

2003-01-01

Research has consistently found that the decline in the present values of delayed rewards as delay increases is better fit by hyperbolic than by exponential delay-discounting functions. However, concave utility, transaction costs, and risk each could produce hyperbolic-looking data, even when the underlying discounting function is exponential. In Experiments 1 (N = 45) and 2 (N = 103), participants placed bids indicating their present values of real future monetary rewards in computer-based 2nd-price auctions. Both experiments suggest that utility is not sufficiently concave to account for the superior fit of hyperbolic functions. Experiment 2 provided no evidence that the effects of transaction costs and risk are large enough to account for the superior fit of hyperbolic functions.

Evaluating intergenerational risks: Probabillity adjusted rank-discounted utilitarianism

OpenAIRE

Asheim, Geir B.; Zuber, Stéphane

2015-01-01

Climate policies have stochastic consequences that involve a great number of generations. This calls for evaluating social risk (what kind of societies will future people be born into) rather than individual risk (what will happen to people during their own lifetimes). As a response we propose and axiomatize probability adjusted rank-discounted critical-level generalized utilitarianism (PARDCLU), through a key axiom that requires that the social welfare order both be ethical and satisfy first...

Shallow discounting of delayed cocaine by male rhesus monkeys when immediate food is the choice alternative.

Science.gov (United States)

Huskinson, Sally L; Myerson, Joel; Green, Leonard; Rowlett, James K; Woolverton, William L; Freeman, Kevin B

2016-12-01

Huskinson et al. (2015) recently examined delay discounting in monkeys choosing between an immediate drug (cocaine) reinforcer and a delayed nondrug (food) reinforcer. The present experiment examined the reverse situation: choice between immediate nondrug (food) and delayed drug (cocaine) reinforcers. Whereas the former choice situation exemplifies drug abuse from a delay-discounting perspective, our interest in the latter choice situation is derived from the observation that drug abusers, who characteristically are associated with impulsive choice, typically must devote considerable time to procuring drugs, often at the expense of immediate nondrug alternatives. Accordingly, we analyzed 3 male rhesus monkeys' choices between immediate food and delayed cocaine (0.1 and 0.2 mg/kg/injection) using a hyperbolic model that allowed us to compare discounting rates between qualitatively different reinforcers. Choice of immediate food increased with food amount, and choice functions generally shifted leftward as delay to cocaine increased, indicating a decrease in the subjective value of cocaine. Compared with our previous delay-discounting experiment with immediate cocaine versus delayed food, both doses of delayed cocaine were discounted at a shallow rate. The present results demonstrate that rhesus monkeys will tolerate relatively long delays in an immediate-food versus delayed-drug situation, suggesting that in intertemporal choices between cocaine and food, the subjective value of cocaine is less affected by the delay until reinforcement than is the subjective value of delayed food. More generally, the present findings suggest that although drug abusers may choose impulsively when immediate drug reinforcement is available, they exercise self-control in the acquisition of a highly preferred, delayed drug reinforcer. (PsycINFO Database Record (c) 2016 APA, all rights reserved).

12 CFR 201.107 - Eligibility of demand paper for discount and as security for advances by Reserve Banks.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 2 2010-01-01 2010-01-01 false Eligibility of demand paper for discount and as... BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM EXTENSIONS OF CREDIT BY FEDERAL RESERVE BANKS (REGULATION A) Interpretations § 201.107 Eligibility of demand paper for discount and as security for advances...

Relation between Time Perspective and Delay Discounting: A Literature Review

Science.gov (United States)

Teuscher, Ursina; Mitchell, Suzanne H.

2011-01-01

In this article, we examine the relation between delay discounting and future time perspective by reviewing how these concepts have been measured and quantified in order to assess their conceptual similarities. The extent to which the different measures are empirically related is reviewed by describing studies that have assessed both constructs…

Comment 2 on workshop in economics - issues in benefit-cost analysis: Amplification channels and discounting long-term environmental damages

International Nuclear Information System (INIS)

Hanson, D.A.

1992-01-01

Many environmental problems have long-term effects. Acid rain has long-term effects on soils, forests, and exposed materials. Global climate change has even longer-term effects. This difference in timing - between the near-term cost of environmental protection and the long-term environmental effects - makes it difficult to conduct a cost-benefit analysis of any program designed to abate environmental damages. The rate at which to discount long-term environmental damages becomes a key question in comparisons of benefits and costs. This comment points out an important facet of the discounting issue. The discount rate for calculating the present value of future environmental benefits may be much lower than the rate of return on investment. Cost-benefit analysis is a framework in which to evaluate policies and decisions. Because global climate change is a complex problem, extensions of cost-benefit theory can be expected to add additional insights, particularly in the following areas: distinguishing distributional effects among nations, over time, and among generations; determining the rate of discount that is appropriate for long-term environmental damages and separating risk aspects from the rate of discount; and assessing amplification effects when policies involve large expenditures relative to the economy or when affected sectors are significant sectors of the economy

Effects of Gainsharing Provisions on the Selection of a Discount Rate for a Defined Benefit Pension Plan

Directory of Open Access Journals (Sweden)

Robert J. Rietz

2017-06-01

Full Text Available This paper examines the effect of gainsharing provisions on the selection of a discount rate for a defined benefit pension plan. The paper uses a traditional actuarial approach of discounting liabilities using the expected return of the associated pension fund. A stochastic Excel model was developed to simulate the effect of varying investment returns on a pension fund with four asset classes. Lognormal distributions were fitted to historical returns of two of the asset classes; large company stocks and long-term government bonds. A third lognormal distribution was designed to represent the investment returns of alternative investments, such as real estate and private equity. The fourth asset class represented short term cash investments and that return was held constant. The following variables were analyzed to determine their relative impact of gainsharing on the selection of a discount rate: hurdle rate, percentage of gainsharing, actuarial asset method smoothing period, and variations in asset allocation. A 50% gainsharing feature can reduce the discount rate for a defined benefit pension plan from 0.5% to more than 2.5%, depending on the gainsharing design and asset allocation.

Estimating the Impact of Raising Prices and Eliminating Discounts on Cigarette Smoking Prevalence in the United States.

Science.gov (United States)

Marynak, Kristy L; Xu, Xin; Wang, Xu; Holmes, Carissa Baker; Tynan, Michael A; Pechacek, Terry

2016-01-01

The average retail price per pack of cigarettes is less than $6, which is substantially lower than the $10 per-pack target established in 2014 by the Surgeon General to reduce the smoking rate. We estimated the impact of three cigarette pricing scenarios on smoking prevalence among teens aged 12-17 years, young adults aged 18-25 years, and adults aged ≥26 years, by state: (1) $0.94 federal tax increase on cigarettes, as proposed in the fiscal year 2017 President's budget; (2) $10 per-pack retail price, allowing discounts; and (3) $10 per-pack retail price, eliminating discounts. We conducted Monte Carlo simulations to generate point estimates of reductions in cigarette smoking prevalence by state. We found that each price scenario would substantially reduce cigarette smoking prevalence. A $10 per-pack retail price eliminating discounts could result in 637,270 fewer smokers aged 12-17 years; 4,186,954 fewer smokers aged 18-25 years; and 7,722,460 fewer smokers aged ≥26 years. Raising cigarette prices and eliminating discounts could substantially reduce cigarette smoking prevalence as well as smoking-related death and disease.

Potential of Securitization in Solar PV Finance

Energy Technology Data Exchange (ETDEWEB)

Lowder, Travis [National Renewable Energy Lab. (NREL), Golden, CO (United States); Mendelsohn, Michael [National Renewable Energy Lab. (NREL), Golden, CO (United States)

2013-12-01

This report aims to demonstrate, hypothetically and at a high level, what volumes of solar deployment could be supported given solar industry access to the capital markets in the form of security issuance. Securitization is not anticipated to replace tax equity in the near- to mid-term, but it could provide an additional source of funds that would be comparatively inexpensive and could reduce the weighted average cost of capital for a given solar project or portfolio. Thus, the potential to securitize solar assets and seek financing in the capital markets could help to sustain the solar industry when the investment tax credit (ITC) -- one of the federal incentives that has leveraged billions of dollars of private capital in the solar industry -- drops from 30% to 10% at the close of 2016. The report offers analysis on the size of the U.S. third-party financed solar market, as well as on the volumes (in MW) of solar asset origination possible through a $100 million securitization fund (assuming no overcollateralization). It also provides data on the size of the relevant securities markets and how the solar asset class may fit into these markets.

Biased and less sensitive: A gamified approach to delay discounting in heroin addiction.

Science.gov (United States)

Scherbaum, Stefan; Haber, Paul; Morley, Kirsten; Underhill, Dylan; Moustafa, Ahmed A

2018-03-01

People with addiction will continue to use drugs despite adverse long-term consequences. We hypothesized (a) that this deficit persists during substitution treatment, and (b) that this deficit might be related not only to a desire for immediate gratification, but also to a lower sensitivity for optimal decision making. We investigated how individuals with a history of heroin addiction perform (compared to healthy controls) in a virtual reality delay discounting task. This novel task adds to established measures of delay discounting an assessment of the optimality of decisions, especially in how far decisions are influenced by a general choice bias and/or a reduced sensitivity to the relative value of the two alternative rewards. We used this measure of optimality to apply diffusion model analysis to the behavioral data to analyze the interaction between decision optimality and reaction time. The addiction group consisted of 25 patients with a history of heroin dependency currently participating in a methadone maintenance program; the control group consisted of 25 healthy participants with no history of substance abuse, who were recruited from the Western Sydney community. The patient group demonstrated greater levels of delay discounting compared to the control group, which is broadly in line with previous observations. Diffusion model analysis yielded a reduced sensitivity for the optimality of a decision in the patient group compared to the control group. This reduced sensitivity was reflected in lower rates of information accumulation and higher decision criteria. Increased discounting in individuals with heroin addiction is related not only to a generally increased bias to immediate gratification, but also to reduced sensitivity for the optimality of a decision. This finding is in line with other findings about the sensitivity of addicts in distinguishing optimal from nonoptimal choice options.

THE DISCOUNT RATE POLICY IN ROMANIA IN THE 20TH CENTURY

Directory of Open Access Journals (Sweden)

Pociovalisteanu Diana

2009-05-01

Full Text Available Throughout the 20th century, economists have generally acknowledged the importance of the central bank discount rate as the reference interest rate in a country: by increasing the interest rate during economic booms that forego the busts, the Central Bank

The effect of reinforcer magnitude on probability and delay discounting of experienced outcomes in a computer game task in humans.

Science.gov (United States)

Greenhow, Anna K; Hunt, Maree J; Macaskill, Anne C; Harper, David N

2015-09-01

Delay and uncertainty of receipt both reduce the subjective value of reinforcers. Delay has a greater impact on the subjective value of smaller reinforcers than of larger ones while the reverse is true for uncertainty. We investigated the effect of reinforcer magnitude on discounting of delayed and uncertain reinforcers using a novel approach: embedding relevant choices within a computer game. Participants made repeated choices between smaller, certain, immediate outcomes and larger, but delayed or uncertain outcomes while experiencing the result of each choice. Participants' choices were generally well described by the hyperbolic discounting function. Smaller numbers of points were discounted more steeply than larger numbers as a function of delay but not probability. The novel experiential choice task described is a promising approach to investigating both delay and probability discounting in humans. © Society for the Experimental Analysis of Behavior.

Deriving the Dividend Discount Model in the Intermediate Microeconomics Class

Science.gov (United States)

Norman, Stephen; Schlaudraff, Jonathan; White, Karianne; Wills, Douglas

2013-01-01

In this article, the authors show that the dividend discount model can be derived using the basic intertemporal consumption model that is introduced in a typical intermediate microeconomics course. This result will be of use to instructors who teach microeconomics to finance students in that it demonstrates the value of utility maximization in…

Model Persediaan Multi Item dengan Mempertimbangkan Faktor Kedaluwarsa dan Faktor All Unit Discount

Directory of Open Access Journals (Sweden)

Taufik Limansyah

2011-01-01

Full Text Available This paper deals with determination of ordering policy for perishable goods, namely joint order policy or individual order policy. Expiration date is an important factor to be considered in the inventory system, especially in chemical or food industry. The problem becomes more complicated when the company has more goods with different expired dates. Another factor that has an influence to the inventory system is the supplier discount factor. A company can get benefit from this factor in order to reduce a total cost of inventory. In this paper, performance’s criteria used for the selected policy is ordering policy that minimize the total cost of inventory by considering the expiration date and all unit discount.

Narrative theory: II. Self-generated and experimenter-provided negative income shock narratives increase delay discounting.

Science.gov (United States)

Mellis, Alexandra M; Snider, Sarah E; Bickel, Warren K

2018-04-01

Reading experimenter-provided narratives of negative income shock has been previously demonstrated to increase impulsivity, as measured by discounting of delayed rewards. We hypothesized that writing these narratives would potentiate their effects of negative income shock on decision-making more than simply reading them. In the current study, 193 cigarette-smoking individuals from Amazon Mechanical Turk were assigned to either read an experimenter-provided narrative or self-generate a narrative describing either the negative income shock of job loss or a neutral condition of job transfer. Individuals then completed a task of delay discounting and measures of affective response to narratives, as well as rating various narrative qualities such as personal relevance and vividness. Consistent with past research, narratives of negative income shock increased delay discounting compared to control narratives. No significant differences existed in delay discounting after self-generating compared to reading experimenter-provided narratives. Positive affect was lower and negative affect was higher in response to narratives of job loss, but affect measures did not differ based on whether narratives were experimenter-provided or self-generated. All narratives were rated as equally realistic, but self-generated narratives (whether negative or neutral) were rated as more vivid and relevant than experimenter-provided narratives. These results indicate that the content of negative income shock narratives, regardless of source, consistently drives short-term choices. (PsycINFO Database Record (c) 2018 APA, all rights reserved).

A Tutorial on the Use of Excel 2010 and Excel for Mac 2011 for Conducting Delay-Discounting Analyses

Science.gov (United States)

Reed, Derek D.; Kaplan, Brent A.; Brewer, Adam T.

2012-01-01

In recent years, researchers and practitioners in the behavioral sciences have profited from a growing literature on delay discounting. The purpose of this article is to provide readers with a brief tutorial on how to use Microsoft Office Excel 2010 and Excel for Mac 2011 to analyze discounting data to yield parameters for both the hyperbolic…

Money Now, Money Later: Linking Time Discounting and Criminal Convictions in the Cambridge Study in Delinquent Development.

Science.gov (United States)

Piquero, Alex R; Farrington, David P; Jennings, Wesley G

2018-04-01

Two prominent criminological theories offer time discounting, or the preference for an immediate reward over a later one, as a central part of understanding involvement in criminal activity. Yet, there exist only a few studies investigating this issue, and they are limited in a few respects. The current study extends prior work in this area by using multiple measures of time discounting collected at three different periods of the life course to examine the link to criminal offending into late middle adulthood in the Cambridge Study in Delinquent Development. Results show that greater time discounting is positively related to a higher number of criminal convictions by late middle adulthood, and this effect remains after controlling for early life-course individual and environmental risk in a multivariate framework. Study limitations and implications are also discussed.

Individual Differences in Discount Rate Are Associated With Demand for Self-Administered Cocaine, But Not Sucrose

OpenAIRE

Koffarnus, Mikhail N.; Woods, James H.

2011-01-01

Substance abusers, including cocaine abusers, discount delayed rewards to a greater extent than do matched controls. In the current experiment, individual differences in discounting of delayed rewards in rats (choice of one immediate over three delayed sucrose pellets) were assessed for associations with demand for either sucrose pellets or an i.v. dose of 0.1 mg/kg/infusion cocaine. Twenty-four male Sprague Dawley rats were split into three groups based on sensitivity to delay to reinforceme...

Temporal discounting and emotional self-regulation in children with attention-deficit/hyperactivity disorder.

Science.gov (United States)

Utsumi, Daniel Augusto; Miranda, Mônica Carolina; Muszkat, Mauro

2016-12-30

Temporal Discounting (TD) reflects a tendency to discount a reward more deeply the longer its delivery is delayed. TD tasks and behavioral scales have been used to investigate 'hot' executive functions in ADHD. The present study analyzed TD task performance shown by ADHD and control groups for correlations with emotional self-regulation metrics from two scales, the Behavior Rating Inventory of Executive Functions (BRIEF) and the Child Behavior Checklist (CBCL). Children (ages 8-12) with ADHD (n=25) and controls (n=24) were assessed using material rewards (toys) for three types of task: Hypothetical (H); Hypothetical with temporal expectation (HTE); and Real (R). Between-group differences were found for the HTE task, on which the ADHD group showed a higher rate of discounting their favorite toy over time, especially at 10s and 20s. This was the only task on which performance significantly correlated with BRIEF metrics, thus suggesting associations between impulsivity and low emotional self-regulation, but no task was correlated with CBCL score. The conclusion is that tasks involving toys and HTE in particular may be used to investigate TD in children with ADHD and as a means of evaluating the interface between the reward system and emotional self-regulation. Copyright © 2016 Elsevier Ireland Ltd. All rights reserved.

Delay Discounting Mediates Parent-Adolescent Relationship Quality and Risky Sexual Behavior for Low Self-Control Adolescents

Science.gov (United States)

Kahn, Rachel E.; Holmes, Christopher; Farley, Julee P.; Kim-Spoon, Jungmeen

2015-01-01

Parent-adolescent relationship quality and delay discounting may play important roles in adolescents’ sexual decision making processes, and levels of self-control during adolescence could act as a buffer within these factors. This longitudinal study included 219 adolescent (55% male; mean age = 12.66 years at Wave 1; mean age = 15.10 years at Wave 2) and primary caregiver dyads. Structural equation modeling was utilized to determine whether delay discounting mediated the association between parent-adolescent relationship quality and adolescents’ risky sexual behavior and how this mediated association may differ between those with high versus low self-control. The results revealed parent-adolescent relationship quality plays a role in the development of risky sexual behavior indirectly through levels of delay discounting, but only for adolescents with low self-control. These findings could inform sex education policies and health prevention programs that address adolescent risky sexual behavior. PMID:26202153

26 CFR 1.818-3 - Amortization of premium and accrual of discount.

Science.gov (United States)

2010-04-01

... required under section 818(b) on account of accruable discounts. (f) Denial of double inclusion. Any amount... section shall not be includible in gross income under section 1232(a) (relating to the taxation of bonds...

Discount rate in the spent fuel storage and disposal fee

International Nuclear Information System (INIS)

Forster, J.D.; Cohen, S.

1980-04-01

After introducing the financial analyses, discount rates, and interest rates involved, the study discusses existing government guidelines for establishing charges for any service provided by the government to be paid by users of those services. Three current government user charges are analyzed including specifically their interest rate policies and how these charges provide precedent for the spent fuel acceptance and disposal fee: uranium enrichment services, the sale of electric power, and the delivery of experiments to orbit by the NASA Space Shuttle. The current DOE policy regarding this storage and disposal fee is stated and discussed. Features of this policy include: the full government cost is borne by users of the services provided; the fee is established and due in full at the time of spent fuel delivery; and the fee is adjusted when spent fuel is transferred from the AFR to the repository. Four evaluation criteria for use in analyzing the applications of discount rates in the spent fuel acceptance fee calculation are discussed. Three outstanding issues are discussed

Parametric sensitivity study for solar-assisted heat-pump systems

Science.gov (United States)

White, N. M.; Morehouse, J. H.

1981-07-01

The engineering and economic parameters affecting life-cycle costs for solar-assisted heat pump systems are investigted. The change in energy usage resulting from each engineering parameter varied was developed from computer simulations, and is compared with results from a stand-alone heat pump system. Three geographical locations are considered: Washington, DC, Fort Worth, TX, and Madison, WI. Results indicate that most engineering changes to the systems studied do not provide significant energy savings. The most promising parameters to ary are the solar collector parameters tau (-) and U/sub L/ the heat pump capacity at design point, and the minimum utilizable evaporator temperature. Costs associated with each change are estimated, and life-cycle costs computed for both engineering parameters and economic variations in interest rate, discount rate, tax credits, fuel unit costs and fuel inflation rates. Results indicate that none of the feasibile engineering changes for the system configuration studied will make these systems economically competitive with the stand-alone heat pump without a considerable tax credit.

Individual differences in discount rate are associated with demand for self-administered cocaine, but not sucrose.

Science.gov (United States)

Koffarnus, Mikhail N; Woods, James H

2013-01-01

Substance abusers, including cocaine abusers, discount delayed rewards to a greater extent than do matched controls. In the current experiment, individual differences in discounting of delayed rewards in rats (choice of one immediate over three delayed sucrose pellets) were assessed for associations with demand for either sucrose pellets or an intravenous dose of 0.1 mg/kg/infusion cocaine. Twenty-four male Sprague Dawley rats were split into three groups based on sensitivity to delay to reinforcement. Then, demand for sucrose pellets and cocaine was determined across a range of fixed-ratio values. Delay discounting was then reassessed to determine the stability of this measure over the course of the experiment. Individual differences in impulsive choice were positively associated with elasticity of demand for cocaine, a measure of reinforcer value, indicating that rats having higher discount rates also valued cocaine more. Impulsive choice was not associated with the level of cocaine consumption as price approached 0 or with any parameter associated with demand for sucrose. Individual sensitivity to delay was correlated with the initial assessment when reassessed at the end of the experiment, although impulsive choice increased for this cohort of rats as a whole. These findings suggest that impulsive choice in rats is positively associated with valuation of cocaine, but not sucrose. © 2011 The Authors, Addiction Biology © 2011 Society for the Study of Addiction.

Marketing cigarettes when all else is unavailable: evidence of discounting in price-sensitive neighbourhoods.

Science.gov (United States)

Burton, Suzan; Williams, Kelly; Fry, Rae; Chapman, Kathy; Soulos, Greg; Tang, Anita; Walsberger, Scott; Egger, Sam

2014-05-01

Since price is both a key determinant of smoking and one of the few remaining marketing strategies available in countries without point-of-sale tobacco display, this study examines cigarette price variations in the Australian market and assesses whether those variations are consistent with price being used to increase or maintain smoking among price-sensitive groups. An audit of 1739 tobacco retailers was used to collect variations in the price of the best-selling Australian cigarette brand, as well as record retailer compliance with tobacco retailing legislation. We examined variation in pricing across outlet type, demographic variations (socioeconomic level, % in the area under 18 and % born in Australia), remoteness and retailer compliance with tobacco retailing legislation. Multipacks were offered by 27.8% of retailers, with the average pack price in a twin pack $1.32 (or 7.3%) cheaper than a single pack. Prices were significantly lower in some outlet types, in lower socioeconomic postcodes and in those with a higher percentage of people under 18. In contrast with other consumer goods, prices were lower (although not significantly so) outside major cities. The provision of substantial multi-pack discounts and lower prices in postcodes with a higher proportion of price-sensitive smokers (young people and those from lower socioeconomic groups) is consistent with targeted discounts being used as a tobacco marketing strategy. The results support policy interventions to counter selective discounts and to require disclosure of trade-based discounts. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions.

On the Effects of Central Japan Expressway's Commuter Toll Discount Policy in Nagoya Area

Institute of Scientific and Technical Information of China (English)

YING Jiangqian; Ryosuke Ando

2007-01-01

Road pricing policies have two equally important objectives that have to be considered: the optimal use of the road network and the fiscal sustainability for the management of the network. The aim of this work is to examine the effects on these two objectives of a recent pricing policy implemented in Japan's expressway networks. Recently the Nippon (Japan) Expressway Companies (NEXCO, operators of Japan's nation wide expressway network) have implemented several toll discount policies for users equipped with electronic toll collectors (ETCs). One of the policies is the commuter discount policy that discounts 50% for a journey on the NEXCO expressway no longer than 100 km during the commuting peak hours. This paper examines its effect on congestion reduction in the road network of Nagoya area and its influence on the use of expressways operated by another major local public expressway company in Nagoya. The congestion easing effect of this policy is compared with a potential marginal cost pricing scheme. These observations suggest that policy coordination regarding toll levels is needed for expressway corporations and transportation authorities for improving transportation efficiency of utilization of the whole network.

A Social Discount Rate for Climate Damage to Future Generations Based on Regulatory Law

Energy Technology Data Exchange (ETDEWEB)

Davidson, M.D. [Department of Philosophy, Faculty of Humanities, University of Amsterdam, Nieuwe Doelenstraat 15, 1012 CP Amsterdam (Netherlands)

2006-05-15

This article examines the implications for the social discount rate for damage due to climate change if risk to future generations is handled in accordance with the laws regulating our handling of risk to contemporaries. The conclusions are the following. Under current law, neither geographic distance nor differences in wealth between risk creator and risk bearer play any part in establishing a standard of 'reasonable care'. The concept of intergenerational justice requires these same principles to be applied in the intergenerational context too, implying a zero consumption rate of interest for climate damage. Assuming that the extent to which mitigation is at the expense of alternative investments is equal to society's marginal propensity to save, the social discount rate becomes society's marginal propensity to save times the long-term market rate of return on private investment, implying a social discount rate of around one per cent or a fraction of one per cent. This formula is exact under the assumption of average saving behaviour and by attributing consumption losses due to investment in damage prevention before damage occurs to the risk creator and after damage occurs to the risk bearer.

Proceedings of the 18th national passive solar conference. Volume 18

International Nuclear Information System (INIS)

Burley, S.; Arden, M.E.

1993-01-01

The American Solar Energy Society conducts the National Solar Energy Conference as an annual forum for exchange of information about advances in solar energy technologies, programs, and concepts. The SOLAR 93 conference presented papers on the following topics: passive design tools; passive performance; building case studies; passive components, construction and glazing; daylighting; passive cooling; sustainability theory; sustainability projects; vernacular architecture; emerging architecture; and education. A total of forty-nine papers were indexed separately for the data base

A note on high discount rates and depletion of primary forests

NARCIS (Netherlands)

Bulte, E; vanSoest, D

1996-01-01

Conventional wisdom implies that high discount rates accelerate depletion of tropical forests. As shown in this article, this result does not necessarily hold in a two-state variable model that distinguishes between primary and secondary forest stocks. In the context of a fixed concession period and

Gratitude intervention modulates P3 amplitude in a temporal discounting task.

Science.gov (United States)

Patalano, Andrea L; Lolli, Sydney L; Sanislow, Charles A

2018-06-23

Gratitude has been shown to reduce economic impatience. In particular, individuals induced to experience heightened gratitude are more willing to choose delayed larger rewards over immediate smaller rewards (i.e., they have lower discounting rates) than those in a neutral condition. Using the event-related potential (ERP) method, we investigated the relation between gratitude level and neurophysiological correlates. Of interest was motivated information processing, as indexed by the P3 component. Participants were administered a gratitude or a neutral mood induction followed by a temporal discounting task (choosing between a fixed immediate reward versus a future reward that varied across trials) while electroencephalogram (EEG) activity was recorded. Individuals in the gratitude condition had greater P3 amplitude, suggesting greater attention to the future-reward option (the choice option that varied across trials), even when this option was not selected, and providing the first evidence of gratitude-induced changes in electrophysiological activity. Copyright © 2018. Published by Elsevier B.V.

Episodic future thinking reduces delay discounting and cigarette demand: an investigation of the good-subject effect.

Science.gov (United States)

Stein, Jeffrey S; Tegge, Allison N; Turner, Jamie K; Bickel, Warren K

2018-04-01

Episodic future thinking (EFT), an intervention involving mental simulation of future events, has been shown to reduce both delay discounting and cigarette self-administration. In the present study, we extended these findings by showing that EFT in a web-based sample of smokers reduces delay discounting and intensity of demand for cigarettes (ad libitum consumption) in a hypothetical purchase task. No effect was observed on elasticity of demand (sensitivity to price) or cigarette craving. We also explored whether demand characteristics (specifically, the "good-subject" effect) might be responsible for observed effects. EFT participants were significantly better able than control participants to discern the experimental hypothesis. However, EFT participants were not better than controls at identifying whether they had been assigned to the experimental group and, likewise, showed no differences in attitudes about the experiment and experimenter. Importantly, effects of EFT on delay discounting and demand remained significant even when controlling for measures of demand characteristics, indicating that EFT's effects are independent of participants' perceptions about the experiment.

Delay Discounting Mediates Parent-Adolescent Relationship Quality and Risky Sexual Behavior for Low Self-Control Adolescents.

Science.gov (United States)

Kahn, Rachel E; Holmes, Christopher; Farley, Julee P; Kim-Spoon, Jungmeen

2015-09-01

Parent-adolescent relationship quality and delay discounting may play important roles in adolescents' sexual decision making processes, and levels of self-control during adolescence could act as a buffer within these factors. This longitudinal study included 219 adolescent (55 % male; mean age = 12.66 years at Wave 1; mean age = 15.10 years at Wave 2) and primary caregiver dyads. Structural equation modeling (SEM) was utilized to determine whether delay discounting mediated the association between parent-adolescent relationship quality and adolescents' risky sexual behavior and how this mediated association may differ between those with high versus low self-control. The results revealed parent-adolescent relationship quality plays a role in the development of risky sexual behavior indirectly through levels of delay discounting, but only for adolescents with low self-control. These findings could inform sex education policies and health prevention programs that address adolescent risky sexual behavior.

Efficiency of the hybrid solar-wind systems for electricity supply to the stand-alone sites

International Nuclear Information System (INIS)

Abdullaev, D.A.; Isaev, R.I.

2000-01-01

The features of stand-alone sites and principles of their electricity supply is described there is going observation of the works about conditions of production and efficiency of using autonomy wind turbines and photovoltaics. Their unsufficiency is estimated. The advantages of hybrid systems and their realization schemes is described. The advantage of hybrid solar-wind Battery system (HSWBS) on the basis of own researches and the facts of other authors are given. The conception overall discounting cost is developed on HSWBS case. (Author)

The discount rate in the economic evaluation of prevention: a thought experiment

NARCIS (Netherlands)

L.G.A. Bonneux (Luc); E. Birnie (Erwin)

2001-01-01

textabstractOBJECTIVES: In the standard economic model of evaluation, constant discount rates devalue the long term health benefits of prevention strongly. This study shows that it is unlikely that this reflects societal preference. DESIGN: A thought experiment in a

I want it and I want it now: using a temporal discounting paradigm to examine predictors of consumer impulsivity.

Science.gov (United States)

Dittmar, Helga; Bond, Rod

2010-11-01

This paper proposes a new model of consumer impulsivity, using type of good, a person's endorsement of materialistic values, and identity deficits as predictors. Traditional decision making and psychological accounts see impulsive behaviour as a general overweighing of short-term gratification (I want that dress now) relative to longer-term concerns, irrespective of consumer good. Our proposal is that consumers' impulsivity (a) differs according to type of good and (b) is linked systematically to a combination of materialistic values and high identity deficits. Beginning with Study 1, three experiments, using a temporal discounting paradigm, show consistently that discount rates are higher for goods that are seen as highly expressive of identity (e.g., clothes) than goods not expressive of identity (e.g., basic body care products). For materialistic consumers, identity deficits predict discount rates for identity-expressive goods (Study 2), and discount rates change for materialistic individuals when their identity deficits are made salient (Study 3). These findings support a conceptualization of consumer impulsivity as identity-seeking behaviour.

Impatience and Grades: Delay-Discount Rates Correlate Negatively with College Gpa

Science.gov (United States)

Kirby, K.N.; Winston, G.C.; Santiesteban, M.

2005-01-01

Because the rewards of academic performance in college are often delayed, the delay-discounting model of impulsiveness (Ainslie (1975) [Ainslie, G. Specious reward: A behavioral theory of impulsiveness and impulse control. Psychological Bulletin, 82 (4), 463-496] predicts that academic performance should tend to decrease as people place less…

A solution procedure for mixed-integer nonlinear programming formulation of supply chain planning with quantity discounts under demand uncertainty

Science.gov (United States)

Yin, Sisi; Nishi, Tatsushi

2014-11-01

Quantity discount policy is decision-making for trade-off prices between suppliers and manufacturers while production is changeable due to demand fluctuations in a real market. In this paper, quantity discount models which consider selection of contract suppliers, production quantity and inventory simultaneously are addressed. The supply chain planning problem with quantity discounts under demand uncertainty is formulated as a mixed-integer nonlinear programming problem (MINLP) with integral terms. We apply an outer-approximation method to solve MINLP problems. In order to improve the efficiency of the proposed method, the problem is reformulated as a stochastic model replacing the integral terms by using a normalisation technique. We present numerical examples to demonstrate the efficiency of the proposed method.

Two Person Zero-Sum Semi-Markov Games with Unknown Holding Times Distribution on One Side: A Discounted Payoff Criterion

International Nuclear Information System (INIS)

Minjarez-Sosa, J. Adolfo; Luque-Vasquez, Fernando

2008-01-01

This paper deals with two person zero-sum semi-Markov games with a possibly unbounded payoff function, under a discounted payoff criterion. Assuming that the distribution of the holding times H is unknown for one of the players, we combine suitable methods of statistical estimation of H with control procedures to construct an asymptotically discount optimal pair of strategies

Temporal framing and the hidden-zero effect: rate-dependent outcomes on delay discounting.

Science.gov (United States)

Naudé, Gideon P; Kaplan, Brent A; Reed, Derek D; Henley, Amy J; DiGennaro Reed, Florence D

2018-05-01

Recent research suggests that presenting time intervals as units (e.g., days) or as specific dates, can modulate the degree to which humans discount delayed outcomes. Another framing effect involves explicitly stating that choosing a smaller-sooner reward is mutually exclusive to receiving a larger-later reward, thus presenting choices as an extended sequence. In Experiment 1, participants (N = 201) recruited from Amazon Mechanical Turk completed the Monetary Choice Questionnaire in a 2 (delay framing) by 2 (zero framing) design. Regression suggested a main effect of delay, but not zero, framing after accounting for other demographic variables and manipulations. We observed a rate-dependent effect for the date-framing group, such that those with initially steep discounting exhibited greater sensitivity to the manipulation than those with initially shallow discounting. Subsequent analyses suggest these effects cannot be explained by regression to the mean. Experiment 2 addressed the possibility that the null effect of zero framing was due to within-subject exposure to the hidden- and explicit-zero conditions. A new Amazon Mechanical Turk sample completed the Monetary Choice Questionnaire in either hidden- or explicit-zero formats. Analyses revealed a main effect of reward magnitude, but not zero framing, suggesting potential limitations to the generality of the hidden-zero effect. © 2018 Society for the Experimental Analysis of Behavior.

Withdrawal-Related Changes in Delay Discounting Predict Short-Term Smoking Abstinence.

Science.gov (United States)

Miglin, Rickie; Kable, Joseph W; Bowers, Maureen E; Ashare, Rebecca L

2017-06-01

Impulsive decision making is associated with smoking behavior and reflects preferences for smaller, immediate rewards and intolerance of temporal delays. Nicotine withdrawal may alter impulsive decision making and time perception. However, little is known about whether withdrawal-related changes in decision making and time perception predict smoking relapse. Forty-five smokers (14 female) completed two laboratory sessions, one following 24-hour abstinence and one smoking-as-usual (order counterbalanced; biochemically verified abstinence). During each visit, participants completed measures of time perception, decision making (ie, discount rates), craving, and withdrawal. Following the second laboratory session, subjects underwent a well-validated model of short-term abstinence (quit week) with small monetary incentives for each day of biochemically confirmed abstinence. Smokers significantly overestimated time during abstinence, compared to smoking-as-usual (p = .021), but there were no abstinence effects on discount rates (p = .6). During the quit week, subjects were abstinent for 3.5 days (SD = 2.15) and smoked a total of 12.9 cigarettes (SD = 15.8). Importantly, higher discount rates (ie, preferences for immediate rewards) during abstinence (abstinence minus smoking difference score) predicted greater number of days abstinent (p = .01) and fewer cigarettes smoked during the quit week (p = .02). Withdrawal-related change in time reproduction did not predict relapse (p = .2). These data suggest that individuals who have a greater preference for immediate rewards during abstinence (vs. smoking-as-usual) may be more successful at maintaining short-term abstinence when provided with frequent (eg, daily) versus less frequent incentive schedules (eg, 1 month). Abstinence-induced changes in decision making may be important for identifying smokers who may benefit from interventions that incentivize abstinence such as contingency management (CM). The present results

National Solar Radiation Data Base, Vol. 2 - Final Technical Report (1961-1990)

Energy Technology Data Exchange (ETDEWEB)

Maxwell, E. L.; Marion, W.; Myers, D.; Rymes, M.; Wilcox, S.

1995-01-01

This technical report explains the procedures used during the 4-year production of the National Solar Radiation Data Base (NSRDB) (1961-1990). It is the second volume in a two-volume report on the NSRDB. The first volume, User's Guide-National Solar Radiation Data Base, provides the information needed to use the data base products. Volume 2 concentrates on results from the R&D required to producea solar radiation data base that would represent a significant update of a previous data base (SOLMET). More than 90% of the data in the NSRDB were estimated using a model--the Meteorological/Statistical (METSTAT) model. Much of Volume 2 concerns the METSTAT model and the sources of its input data. In addition, it contains results of comparisons of the NSRBD with the previous SOLMET data base.Results of the model evaluations and data base comparisons favor the use of NSRDB data over SOLMET data to select optimum sites and estimate performance for solar energy systems. The report noted that to improve data on solar radiation, 'measured' data need to become the mainstav of future data bases.

Delay Discounting Rates Are Temporally Stable in an Equivalent Present Value Procedure Using Theoretical and Area under the Curve Analyses

Science.gov (United States)

Harrison, Justin; McKay, Ryan

2012-01-01

Temporal discounting rates have become a popular dependent variable in social science research. While choice procedures are commonly employed to measure discounting rates, equivalent present value (EPV) procedures may be more sensitive to experimental manipulation. However, their use has been impeded by the absence of test-retest reliability data.…

Valuation of micro and small enterprises using the methodology multicriteria and method of discounted cash flow

Directory of Open Access Journals (Sweden)

Marcus Vinicius Andrade de Lima

2010-01-01

Full Text Available This paper presents a contribution to the method of discounted cash flow methodology using multicriteria decision aid. This methodology incorporates qualitative variables and subjective to the traditional method of discounted cash flows used in valuation companies. To illustrate the proposed method was a descriptive study of exploratory nature applied to a multicase. The intervention was in Micro and Small Enterprises (MSE from the chemical, pharmaceutical and tourism. As a result, the appraiser set the price of the business taking into account the result of mixing between the two methodologies.

Me, Myself, and Money II: Relative Deprivation Predicts Disordered Gambling Severity via Delay Discounting, Especially Among Gamblers Who Have a Financially Focused Self-Concept.

Science.gov (United States)

Tabri, Nassim; Will Shead, N; Wohl, Michael J A

2017-12-01

In the current research, we examined whether the known link between relative deprivation and disordered gambling (via delay discounting; i.e., preferences for immediate smaller rewards relative to delayed larger rewards) is moderated by the extent to which gamblers have a financially focused self-concept. Specifically, we hypothesized that delay discounting would be a strong predictor of disordered gambling among those who base their self-worth on their financial success. To test this moderated-mediation model, a community sample of gamblers (N = 239) completed measures that assessed relative deprivation, delay discounting, financially focused self-concept, and disordered gambling severity. As predicted, people who felt more relative deprivation reported more severe symptoms of disordered gambling and this association was mediated by delay discounting. Importantly, this mediated relationship was moderated by the extent to which participants' self-concept was focused on financial success. Among participants whose self-concept was high in financial focus, greater delay discounting (stemming from relative deprivation) was a strong predictor of disordered gambling. Among people whose self-concept was low in financial focus, delay discounting (stemming from relative deprivation) was a weak predictor of disordered gambling. Thus, the magnitude of the indirect effect of relative deprivation on disordered gambling severity was larger among people with a more financially focused self-concept-an effect mediated by delay discounting. These findings suggest that targeting gamblers' financial focus in prevention and treatment interventions may be instrumental in curtailing the development and maintenance of disordered gambling.

Mixed integer linear programming model for dynamic supplier selection problem considering discounts

Directory of Open Access Journals (Sweden)

Adi Wicaksono Purnawan

2018-01-01

Full Text Available Supplier selection is one of the most important elements in supply chain management. This function involves evaluation of many factors such as, material costs, transportation costs, quality, delays, supplier capacity, storage capacity and others. Each of these factors varies with time, therefore, supplier identified for one period is not necessarily be same for the next period to supply the same product. So, mixed integer linear programming (MILP was developed to overcome the dynamic supplier selection problem (DSSP. In this paper, a mixed integer linear programming model is built to solve the lot-sizing problem with multiple suppliers, multiple periods, multiple products and quantity discounts. The buyer has to make a decision for some products which will be supplied by some suppliers for some periods cosidering by discount. To validate the MILP model with randomly generated data. The model is solved by Lingo 16.

Generic drug discount programs: are prescriptions being submitted for pharmacy benefit adjudication?

Science.gov (United States)

Tungol, Alexandra; Starner, Catherine I; Gunderson, Brent W; Schafer, Jeremy A; Qiu, Yang; Gleason, Patrick P

2012-01-01

  In 2006, pharmacies began offering select generic prescription drugs at discount prices (e.g., $4 for a 30-day supply) through nonmembership and membership programs. As part of the contract in membership generic drug discount programs, the member agrees to forgo submission of the claim to the insurance company. Claims not submitted for insurance adjudication may result in incomplete pharmacy benefit manager (PBM) and health plan data, which could negatively influence adherence reporting and clinical programs. To address potentially missing claims data, the Centers for Medicare Medicaid Services (CMS) encourages Medicare Part D sponsors to incentivize network pharmacies to submit claims directly to the plan for drugs dispensed outside of a member's Part D benefit, unless a member refuses. The extent of PBM and health plan claims capture loss due to generic drug discount programs is unknown. To identify changes in levothyroxine utilizers' prescription claims capture rate following the advent of generic drug discount membership and nonmembership programs. This retrospective concurrent cohort study used claims data from 3.5 million commercially insured members enrolled in health plans located in the central and southern United States with Prime Therapeutics pharmacy benefit coverage. Members were required to be 18 years or older and younger than 60 years as of January 1, 2006, and continuously enrolled from January 1, 2006, through December 31, 2010. Members utilizing generic levothyroxine for at least 120 days during January 1, 2006, through June 30, 2006 (baseline period) from the same pharmacy group with supply on July 1, 2006, were placed into 1 of 3 pharmacy groups: (1) nonmembership (Walmart, Sam's Club, Target, Kroger, City Market, and King Soopers pharmacies), (2) membership (Walgreens, CVS, Albertsons, and Savon pharmacies), or (3) the reference group of all other pharmacies. The index date was defined as July 1, 2006. The levothyroxine claim providing

Impairment in delay discounting in schizophrenia and schizoaffective disorder but not primary mood disorders.

Science.gov (United States)

Brown, Hannah E; Hart, Kamber L; Snapper, Leslie A; Roffman, Joshua L; Perlis, Roy H

2018-05-28

A measure of planning and impulse control, the delay-discounting (DD) task estimates the extent to which an individual decreases the perceived value of a reward as the reward is delayed. We examined cross-disorder performance between healthy controls (n = 88), individuals with bipolar disorder (n = 23), major depressive disorder (n = 43), and primary psychotic disorders (schizophrenia and schizoaffective disorder; n = 51) on the DD task (using a $10 delayed larger reward), as well as the interaction of DD scores with other symptom domains (cognition, psychosis, and affect). We found that individuals with schizophrenia and schizoaffective disorder display significantly greater rates of discounting compared to healthy controls, while individuals with a primary mood disorder do not differ from healthy controls after adjustment for IQ. Further, impairment in working memory is associated with higher discounting rates among individuals with schizophrenia and schizoaffective disorder, but cognitive dysfunction alone does not account for the extent of impairment in DD. Taken together, these results suggest an impaired ability to plan for the future and make adaptive decisions that are specific to individuals with psychotic disorders, and likely related to adverse functional outcomes. More generally, this work demonstrates the presence of variation in impulsivity across major psychiatric illnesses, supporting the use of a trans-diagnostic perspective.

Examination of a recommended algorithm for eliminating nonsystematic delay discounting response sets.

Science.gov (United States)

White, Thomas J; Redner, Ryan; Skelly, Joan M; Higgins, Stephen T

2015-09-01

To examine (1) whether use of a recommended algorithm (Johnson and Bickel, 2008) improves upon conventional statistical model fit (R(2)) for identifying nonsystematic response sets in delay discounting (DD) data, (2) whether removing such data meaningfully effects research outcomes, and (3) to identify participant characteristics associated with nonsystematic response sets. Discounting of hypothetical monetary rewards was assessed among 349 pregnant women (231 smokers and 118 recent quitters) via a computerized task comparing $1000 at seven future time points with smaller values available immediately. Nonsystematic response sets were identified using the algorithm and conventional statistical model fit (R(2)). The association between DD and quitting was analyzed with and without nonsystematic response sets to examine whether the inclusion or exclusion impacts this relationship. Logistic regression was used to examine whether participant sociodemographics were associated with nonsystematic response sets. The algorithm excluded fewer cases than the R(2) method (14% vs. 16%), and was not correlated with logk as is R(2). The relationship between logk and the clinical outcome (spontaneous quitting) was unaffected by exclusion methods; however, other variables in the model were affected. Lower educational attainment and younger age were associated with nonsystematic response sets. The algorithm eliminated data that were inconsistent with the nature of discounting and retained data that were orderly. Neither method impacted the smoking/DD relationship in this data set. Nonsystematic response sets are more likely among younger and less educated participants, who may need extra training or support in DD studies. Copyright © 2015 Elsevier Ireland Ltd. All rights reserved.

Equivalence of ten different discounted cash flow valuation methods

OpenAIRE

Fernandez, Pablo

2004-01-01

This paper shows that ten methods of company valuation using discounted cash flows (WACC; equity cash flow; capital cash flow; adjusted present value; residual income; EVA; business's risk-adjusted equity cash flow; business's risk-adjusted free cash flow; risk-free-adjusted equity cash flow; and risk-free-adjusted free cash flow) always give the same value when identical assumptions are used. This result is logical, since all the methods analyze the same reality using the same assumptions; t...

Economic discounting in the assessment of detriment due to biosphere contamination by nuclear power enterprises

International Nuclear Information System (INIS)

Demin, V.F.; Ermakova, E.I.; Shevelev, Ya.V.

1983-01-01

In addition to existing concepts of total and partial expected collective doze, discounting expected collective dose Ssup(c)d is suggested to be introduced as the basis for estimation of the detriment due to biosphere contamination by wastes from enterprises of nuclear power. Unlike the total expected dose. the Ssup(c)d value is evaluated taking into account the discounting function known in economy. Calculation Ssup(c)d values for different stages of nuclear fuel cycle with a light-water reactor are given. For the cycle on the whole, the Ssup(c)d value is approximately by 2 or 3 orders of masnitude lower than the corresponding total expected collective dose

Fisica solare

CERN Document Server

Degl’Innocenti, Egidio Landi

2008-01-01

Il volume è un'introduzione alla Fisica Solare che si propone lo scopo di illustrare alla persona che intende avvicinarsi a questa disciplina (studenti, dottori di ricerca, ricercatori) i meccanismi fisici che stanno alla base della complessa fenomenologia osservata sulla stella a noi più vicina. Il volume non ha la pretesa di essere esauriente (basta pensare che la fisica solare spazia su un gran numero di discipline, quali la Fisica Nucleare, la Termodinamica, L'Elettrodinamica, la Fisica Atomica e Molecolare, la Spettoscopia in tutte le bande dello spettro elettromagnetico, la Magnetoidrodinamica, la Fisica del Plasma, lo sviluppo di nuova strumentazione, l'Ottica, ecc.). Piuttosto, sono stati scelti un numero di argomenti di rilevanza fondamentale nello studio presente del Sole (soprattutto nei riguardi delle osservazioni da terra con grandi telescopi) e su tali argomenti si è cercato di dare una panoramica generale, inclusiva dell'evoluzione storica, senza scendere in soverchi dettagli. Siccome la Fis...

Towards the resolution of the solar neutrino problem

Energy Technology Data Exchange (ETDEWEB)

Friedland, Alexander [Univ. of California, Berkeley, CA (United States)

2000-08-01

A number of experiments have accumulated over the years a large amount of solar neutrino data. The data indicate that the observed solar neutrino flux is significantly smaller than expected and, furthermore, that the electron neutrino survival probability is energy dependent. This ''solar neutrino problem'' is best solved by assuming that the electron neutrino oscillates into another neutrino species. Even though one can classify the solar neutrino deficit as strong evidence for neutrino oscillations, it is not yet considered a definitive proof. Traditional objections are that the evidence for solar neutrino oscillations relies on a combination of hard, different experiments, and that the Standard Solar Model (SSM) might not be accurate enough to precisely predict the fluxes of different solar neutrino components. Even though it seems unlikely that modifications to the SSM alone can explain the current solar neutrino data, one still cannot completely discount the possibility that a combination of unknown systematic errors in some of the experiments and certain modifications to the SSM could conspire to yield the observed data. To conclusively demonstrate that there is indeed new physics in solar neutrinos, new experiments are aiming at detecting ''smoking gun'' signatures of neutrino oscillations, such as an anomalous seasonal variation in the observed neutrino flux or a day-night variation due to the regeneration of electron neutrinos in the Earth. In this dissertation we study the sensitivity reach of two upcoming neutrino experiments, Borexino and KamLAND, to both of these effects. Results of neutrino oscillation experiments for the case of two-flavor oscillations have always been presented on the (sin² 2θ, Δm²) parameter space. We point out, however, that this parameterization misses the half of the parameter space π/4 < θ < π/2, which is physically inequivalent to the region 0 < θ < π/4 in

Solar prominences

CERN Document Server

Engvold, Oddbjørn

2015-01-01

This volume presents the latest research results on solar prominences, including new developments on e.g. chirality, fine structure, magnetism, diagnostic tools and relevant solar plasma physics. In 1875 solar prominences, as seen out of the solar limb, were described by P.A. Secchi in his book Le Soleil as "gigantic pink or peach-flower coloured flames". The development of spectroscopy, coronagraphy and polarimetry brought tremendous observational advances in the twentieth century. The authors present and discuss exciting new challenges (resulting from observations made by space and ground-based telescopes in the 1990s and the first decade of the 21st century) concerning the diagnostics of prominences, their formation, their life time and their eruption along with their impact in the heliosphere (including the Earth). The book starts with a general introduction of the prominence “object” with some historical background on observations and instrumentation. In the next chapter, the various forms of promine...

ChargeOut! : discounted cash flow compared with traditional machine-rate analysis

Science.gov (United States)

Ted Bilek

2008-01-01

ChargeOut!, a discounted cash-flow methodology in spreadsheet format for analyzing machine costs, is compared with traditional machine-rate methodologies. Four machine-rate models are compared and a common data set representative of logging skidders’ costs is used to illustrate the differences between ChargeOut! and the machine-rate methods. The study found that the...

Discounting human lives: Uranium and global equity

International Nuclear Information System (INIS)

Goldman, B.A.

1993-01-01

Long-term, global environmental health risks complicate efforts to evaluate the efficiency and equity of economic activities from a public welfare perspective. This study sets out a practical framework based on the theory of neoclassical welfare economics for evaluating whether an economic activity yields such inefficient or inequitable net effects to justify government intervention from a variety of decision-making perspectives. It applies this empirical approach to the case of public policies that encouraged uranium production (the mining, milling, and refining of uranium ore) near Elliot Lake and Blind River in Northern Ontario. The analysis tests the two-fold hypothesis that if future negative externalities of production are considered along with past net effects, the these policies result in (1) an inefficient allocation of economic resources according to the potential Pareto criterion, and (2) an inequitable distribution of impacts according to Rawls' maximin criterion. The analytical framework to test these hypotheses has three parts: Risk-cost-benefit analysis, distributions analysis, and efficiency and equity analysis. Quantitative impacts are derived from empirical estimates of cost and benefit streams during 1956 to 1990, and modelled future cancer death costs. Net effects are aggregated to nine observations across three dimensions: Geographic, intergenerational, and social. Qualitative observations are provided about the boom-and-bust uranium economy, environmental burdens, and other unquantifiable impacts. The results illustrate how underlying normative assumptions overwhelm other aspects of efficiency and equity analyses of long-term, global environmental changes. These assumptions appear in discounting equations that ultimately derive from a priori allocations of rights to natural assets and corollary duties to protect such rights. More than two-thirds of the discounting scenarios yield inefficient outcomes and over ninety percent are inequitable

Integrating discount usability in scrum development process in Ethiopia

DEFF Research Database (Denmark)

Teka, Degif; Dittrich, Y.; Kifle, Mesfin

2017-01-01

be adapted and integrated into the Scrum-agile development with especial emphasis on the Ethiopian context. The research aims at adapting software engineering and ICT development methods to the specific situation and integrating user-centered design (UCD) and lightweight usability methods into agile...... end users and developers. Culturally adapted user pair testing and heuristic evaluation supported usability testing and supported developers in getting early feedback. Integrated approach of discount usability with the Scrum process has been developed and evaluated first with the involved...

Advancement in solar evaporation techniques for volume reduction of chemical effluents

Energy Technology Data Exchange (ETDEWEB)

Parakasamurthy, K S [Nuclear Fuel Complex, Hyderabad (India); Pande, D P [Process Engineering and Systems Development Division, Bhabha Atomic Research Centre, Mumbai (India)

1994-06-01

A typical example of advancement of a unit operation for the given requirement is described. The solar evaporation ponds (SEP) have technical and economic advantages compared to other evaporation methods for concentrating chemical effluents. The operation of SEP is strongly dependent on the environmental and site conditions. Tropical conditions with high solar incidence, good wind speed along with hot and dry weather provide suitable climate for efficient operation of solar evaporation ponds. The particular site selected for the ponds at Nuclear Fuel Complex (NFC) has a rocky terrain with murrum over sheet with very low water table and small velocity of groundwater. During the past twenty five years extensive theoretical and experimental investigations have been carried out for advancement of solar evaporation technique. (author). 7 refs.

Advancement in solar evaporation techniques for volume reduction of chemical effluents

International Nuclear Information System (INIS)

Parakasamurthy, K.S.; Pande, D.P.

1994-01-01

A typical example of advancement of a unit operation for the given requirement is described. The solar evaporation ponds (SEP) have technical and economic advantages compared to other evaporation methods for concentrating chemical effluents. The operation of SEP is strongly dependent on the environmental and site conditions. Tropical conditions with high solar incidence, good wind speed along with hot and dry weather provide suitable climate for efficient operation of solar evaporation ponds. The particular site selected for the ponds at Nuclear Fuel Complex (NFC) has a rocky terrain with murrum over sheet with very low water table and small velocity of groundwater. During the past twenty five years extensive theoretical and experimental investigations have been carried out for advancement of solar evaporation technique. (author)

Commercial Discount Rate Estimation for Efficiency Standards Analysis

Energy Technology Data Exchange (ETDEWEB)

Fujita, K. Sydny [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

2016-04-13

Underlying each of the Department of Energy's (DOE's) federal appliance and equipment standards are a set of complex analyses of the projected costs and benefits of regulation. Any new or amended standard must be designed to achieve significant additional energy conservation, provided that it is technologically feasible and economically justified (42 U.S.C. 6295(o)(2)(A)). A proposed standard is considered economically justified when its benefits exceed its burdens, as represented by the projected net present value of costs and benefits. DOE performs multiple analyses to evaluate the balance of costs and benefits of commercial appliance and equipment e efficiency standards, at the national and individual building or business level, each framed to capture different nuances of the complex impact of standards on the commercial end user population. The Life-Cycle Cost (LCC) analysis models the combined impact of appliance first cost and operating cost changes on a representative commercial building sample in order to identify the fraction of customers achieving LCC savings or incurring net cost at the considered efficiency levels.1 Thus, the choice of commercial discount rate value(s) used to calculate the present value of energy cost savings within the Life-Cycle Cost model implicitly plays a key role in estimating the economic impact of potential standard levels.2 This report is intended to provide a more in-depth discussion of the commercial discount rate estimation process than can be readily included in standard rulemaking Technical Support Documents (TSDs).

Time value of emission and technology discounting rate for off-grid electricity generation in India using intermediate pyrolysis

International Nuclear Information System (INIS)

Patel, Amit; Sarkar, Prabir; Tyagi, Himanshu; Singh, Harpreet

2016-01-01

The environmental impact assessment of a process over its entire operational lifespan is an important issue. Estimation of life cycle emission helps in predicting the contribution of a given process to abate (or to pollute) the environmental emission scenario. Considering diminishing and time-dependent effect of emission, assessment of the overall effect of emissions is very complex. The paper presents a generalized methodology for arriving at a single emission discounting number for a process option, using the concept of time value of carbon emission flow. This number incorporates the effect of the emission resulting from the process over the entire operational lifespan. The advantage of this method is its quantitative aspect as well as its flexible nature. It can be applied to any process. The method is demonstrated with the help of an Intermediate Pyrolysis process when used to generate off-grid electricity and opting biochar route for disposing straw residue. The scenarios of very high net emission to very high net carbon sequestration is generated using process by careful selection of process parameters for different scenarios. For these different scenarios, the process discounting rate was determined and its outcome is discussed. The paper also proposes a process specific eco-label that mentions the discounting rates. - Highlight: • Methodology to obtain emission discounting rate for a process is proposed. • The method includes all components of life cycle emission converts into a time dependent discounting number. • A case study of Intermediate Pyrolysis is used to obtain such number for a range of processes. • The method is useful to determine if the effect from the operation of a process will lead to a net absorption of emission or net accumulation of emission in the environment.

Trends in the use of premium and discount cigarette brands: findings from the ITC US Surveys (2002-2011).

Science.gov (United States)

Cornelius, Monica E; Driezen, Pete; Fong, Geoffrey T; Chaloupka, Frank J; Hyland, Andrew; Bansal-Travers, Maansi; Carpenter, Matthew J; Cummings, K Michael

2014-03-01

The purpose of this paper was to examine trends in the use of premium and discount cigarette brands and determine correlates of type of brand used and brand switching. Data from the International Tobacco Control (ITC) US adult smoker cohort survey were analysed. The total study sample included 6669 adult cigarette smokers recruited and followed from 2002 to 2011 over eight different survey waves. Each survey wave included an average of 1700 smokers per survey with replenishment of those lost to follow-up. Over the eight survey waves, a total of 260 different cigarette brands were reported by smokers, of which 17% were classified as premium and 83% as discount brands. Marlboro, Newport, and Camel were the most popular premium brands reported by smokers in our sample over all eight survey waves. The percentage of smokers using discount brands increased between 2002 and 2011, with a marked increase in brand switching from premium to discount cigarettes observed after 2009 corresponding to the $0.61 increase in the federal excise tax on cigarettes. Cigarette brand preferences varied by age group and income levels with younger, higher income smokers more likely to report smoking premium brand cigarettes, while older, middle and lower income, heavier smokers were more likely to report using discount brands. Our data suggest that demographic and smoking trends favour the continued growth of low priced cigarette brands. From a tobacco control perspective, the findings from this study suggest that governments should consider enacting stronger minimum pricing laws in order to keep the base price of cigarettes high, since aggressive price marketing will likely continue to be used by manufacturers to compete for the shrinking pool of remaining smokers in the population.

Time value of emission and technology discounting rate for off-grid electricity generation in India using intermediate pyrolysis

Energy Technology Data Exchange (ETDEWEB)

Patel, Amit, E-mail: amitrp@iitrpr.ac.in [Indian Institute of Technology Ropar, Nangal Road, Rupnagar 140001, Punjab (India); Faculty of Technology and Engineering, The Maharaja Sayajirao University of Baroda, Vadodara 390001, Gujarat (India); Sarkar, Prabir; Tyagi, Himanshu; Singh, Harpreet [Indian Institute of Technology Ropar, Nangal Road, Rupnagar 140001, Punjab (India)

2016-07-15

The environmental impact assessment of a process over its entire operational lifespan is an important issue. Estimation of life cycle emission helps in predicting the contribution of a given process to abate (or to pollute) the environmental emission scenario. Considering diminishing and time-dependent effect of emission, assessment of the overall effect of emissions is very complex. The paper presents a generalized methodology for arriving at a single emission discounting number for a process option, using the concept of time value of carbon emission flow. This number incorporates the effect of the emission resulting from the process over the entire operational lifespan. The advantage of this method is its quantitative aspect as well as its flexible nature. It can be applied to any process. The method is demonstrated with the help of an Intermediate Pyrolysis process when used to generate off-grid electricity and opting biochar route for disposing straw residue. The scenarios of very high net emission to very high net carbon sequestration is generated using process by careful selection of process parameters for different scenarios. For these different scenarios, the process discounting rate was determined and its outcome is discussed. The paper also proposes a process specific eco-label that mentions the discounting rates. - Highlight: • Methodology to obtain emission discounting rate for a process is proposed. • The method includes all components of life cycle emission converts into a time dependent discounting number. • A case study of Intermediate Pyrolysis is used to obtain such number for a range of processes. • The method is useful to determine if the effect from the operation of a process will lead to a net absorption of emission or net accumulation of emission in the environment.

Transactional Problem Content in Cost Discounting: Parallel Effects for Probability and Delay

Science.gov (United States)

Jones, Stephen; Oaksford, Mike

2011-01-01

Four experiments investigated the effects of transactional content on temporal and probabilistic discounting of costs. Kusev, van Schaik, Ayton, Dent, and Chater (2009) have shown that content other than gambles can alter decision-making behavior even when associated value and probabilities are held constant. Transactions were hypothesized to lead…

26 CFR 1.1232-3A - Inclusion as interest of original issue discount on certain obligations issued after May 27, 1969.

Science.gov (United States)

2010-04-01

... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Inclusion as interest of original issue discount... Special Rules for Determining Capital Gains and Losses § 1.1232-3A Inclusion as interest of original issue discount on certain obligations issued after May 27, 1969. (a) Ratable inclusion as interest—(1) General...

Low temperature desalination using solar collectors augmented by thermal energy storage

International Nuclear Information System (INIS)

Gude, Veera Gnaneswar; Nirmalakhandan, Nagamany; Deng, Shuguang; Maganti, Anand

2012-01-01

Highlights: ► A new low temperature desalination process using solar collectors was investigated. ► A thermal energy storage tank (TES) was included for continuous process operation. ► Solar collector area and TES volumes were optimized by theoretical simulations. ► Economic analysis for the entire process was compared with and without TES tank. ► Energy and emission payback periods for the solar collector system were reported. -- Abstract: A low temperature desalination process capable of producing 100 L/d freshwater was designed to utilize solar energy harvested from flat plate solar collectors. Since solar insolation is intermittent, a thermal energy storage system was incorporated to run the desalination process round the clock. The requirements for solar collector area as well as thermal energy storage volume were estimated based on the variations in solar insolation. Results from this theoretical study confirm that thermal energy storage is a useful component of the system for conserving thermal energy to meet the energy demand when direct solar energy resource is not available. Thermodynamic advantages of the low temperature desalination using thermal energy storage, as well as energy and environmental emissions payback period of the system powered by flat plate solar collectors are presented. It has been determined that a solar collector area of 18 m 2 with a thermal energy storage volume of 3 m 3 is adequate to produce 100 L/d of freshwater round the clock considering fluctuations in the weather conditions. An economic analysis on the desalination system with thermal energy storage is also presented.

[Coverage by health insurance or discount cards: a household survey in the coverage area of the Family Health Strategy].

Science.gov (United States)

Fontenelle, Leonardo Ferreira; Camargo, Maria Beatriz Junqueira de; Bertoldi, Andréa Dâmaso; Gonçalves, Helen; Maciel, Ethel Leonor Noia; Barros, Aluísio J D

2017-10-26

This study was designed to assess the reasons for health insurance coverage in a population covered by the Family Health Strategy in Brazil. We describe overall health insurance coverage and according to types, and analyze its association with health-related and socio-demographic characteristics. Among the 31.3% of persons (95%CI: 23.8-39.9) who reported "health insurance" coverage, 57.0% (95%CI: 45.2-68.0) were covered only by discount cards, which do not offer any kind of coverage for medical care, but only discounts in pharmacies, clinics, and hospitals. Both for health insurance and discount cards, the most frequently cited reasons for such coverage were "to be on the safe side" and "to receive better care". Both types of coverage were associated statistically with age (+65 vs. 15-24 years: adjusted odds ratios, aOR = 2.98, 95%CI: 1.28-6.90; and aOR = 3.67; 95%CI: 2.22-6.07, respectively) and socioeconomic status (additional standard deviation: aOR = 2.25, 95%CI: 1.62-3.14; and aOR = 1.96, 95%CI: 1.34-2.97). In addition, health insurance coverage was associated with schooling (aOR = 7.59, 95%CI: 4.44-13.00) for complete University Education and aOR = 3.74 (95%CI: 1.61-8.68) for complete Secondary Education, compared to less than complete Primary Education. Meanwhile, neither health insurance nor discount card was associated with health status or number of diagnosed diseases. In conclusion, studies that aim to assess private health insurance should be planned to distinguish between discount cards and formal health insurance.

Time and decision making: differential contribution of the posterior insular cortex and the striatum during a delay discounting task.