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Risk preferences impose a hidden distortion on measures of choice impulsivity

dc.creatorLópez Guzmán, Silvia
dc.creatorKonova, Anna B.spa
dc.creatorLouie, Kenwayspa
dc.creatorGlimcher, Paul W.spa
dc.date.accessioned2020-08-19T14:40:30Z
dc.date.available2020-08-19T14:40:30Z
dc.date.created2018-01-26spa
dc.description.abstractMeasuring temporal discounting through the use of intertemporal choice tasks is now the gold standard method for quantifying human choice impulsivity (impatience) in neuroscience, psychology, behavioral economics, public health and computational psychiatry. A recent area of growing interest is individual differences in discounting levels, as these may predispose to (or protect from) mental health disorders, addictive behaviors, and other diseases. At the same time, more and more studies have been dedicated to the quantification of individual attitudes towards risk, which have been measured in many clinical and non-clinical populations using closely related techniques. Economists have pointed to interactions between measurements of time preferences and risk preferences that may distort estimations of the discount rate. However, although becoming standard practice in economics, discount rates and risk preferences are rarely measured simultaneously in the same subjects in other fields, and the magnitude of the imposed distortion is unknown in the assessment of individual differences. Here, we show that standard models of temporal discounting —such as a hyperbolic discounting model widely present in the literature which fails to account for risk attitudes in the estimation of discount rates— result in a large and systematic pattern of bias in estimated discounting parameters. This can lead to the spurious attribution of differences in impulsivity between individuals when in fact differences in risk attitudes account for observed behavioral differences. We advance a model which, when applied to standard choice tasks typically used in psychology and neuroscience, provides both a better fit to the data and successfully de-correlates risk and impulsivity parameters. This results in measures that are more accurate and thus of greater utility to the many fields interested in individual differences in impulsivity.eng
dc.format.mimetypeapplication/pdf
dc.identifier.doihttps://doi.org/10.1371/journal.pone.0191357
dc.identifier.issnEISSN: 1932-6203
dc.identifier.urihttps://repository.urosario.edu.co/handle/10336/26912
dc.language.isoengspa
dc.publisherPLOS Public Library of Sciencespa
dc.relation.citationTitlePLoS One
dc.relation.ispartofPLoS One, EISSN: 1932-6203, (26 January 2018); 18 pp. spa
dc.relation.urihttps://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0191357&type=printablespa
dc.rights.accesRightsinfo:eu-repo/semantics/openAccess
dc.rights.accesoAbierto (Texto Completo)spa
dc.sourcePLoS Onespa
dc.source.instnameinstname:Universidad del Rosario
dc.source.reponamereponame:Repositorio Institucional EdocUR
dc.subject.keywordMedical risk factorsspa
dc.subject.keywordImpulsivityspa
dc.subject.keywordDecision makingspa
dc.subject.keywordPsychological attitudesspa
dc.subject.keywordPaymentspa
dc.subject.keywordBehaviorspa
dc.subject.keywordClinical psychologyspa
dc.subject.keywordFinancespa
dc.titleRisk preferences impose a hidden distortion on measures of choice impulsivityspa
dc.title.TranslatedTitleLas preferencias de riesgo imponen una distorsión oculta en las medidas de impulsividad de elecciónspa
dc.typearticleeng
dc.type.hasVersioninfo:eu-repo/semantics/publishedVersion
dc.type.spaArtículospa
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