Publication details for Prof Morten LauHarrison, G.W. & Lau, M.I. (2005). Is the evidence for hyperbolic discounting in humans just an experimental artifact? Behavioral and Brain Sciences 28(5): 657.
- Publication type: Journal papers: academic
- ISSN/ISBN: 0140-525X, 1469-1825
- DOI: 10.1017/S0140525X05290118
- View online: Online version
- Durham research online: DRO record
Author(s) from Durham
We question the behavioral premise underlying Ainslie's claims about hyperbolic discounting theory. The alleged evidence for humans can be easily explained as an artefact of experimental procedures that do not control for the credibility of payment over different time horizons. In appropriately controlled and financially motivated settings, human behavior is consistent with conventional exponential preferences.