Please use this identifier to cite or link to this item:
Appears in Collections:Economics Journal Articles
Peer Review Status: Refereed
Title: Towards an incentive salience model of intertemporal choice
Author(s): Lades, Leonhard
Contact Email:
Keywords: Intertemporal consumer choice
‘Wanting’ versus ‘liking’
Choice (Psychology
Reward (Psychology)
Issue Date: Aug-2012
Date Deposited: 7-Oct-2013
Citation: Lades L (2012) Towards an incentive salience model of intertemporal choice. Journal of Economic Psychology, 33 (4), pp. 833-841.
Abstract: This theoretical paper presents an incentive salience model of intertemporal choice. The model is a variation of the quasi-hyperbolic discounting model. Based on the distinction between ‘wanting' and ‘liking', the paper presents one possible explanation of impulsive choices of smaller sooner rewards instead of larger later ones. These impulsive choices are induced by cues that trigger strong motivational ‘wanting' to obtain smaller sooner rewards, but do not necessarily influence the degree to which the rewards are ‘liked'. Cue-triggered ‘wanting' can occur when an individual is in a specific need deprivation state, perceives a cue previously associated with an immediately obtainable reward, knows that the cued reward can reduce the current deprivation state, and lacks self-control. Attributable to the integration of cue-triggered ‘wanting' into an intertemporal choice model, the incentive salience can account for anomalies in intertemporal choice such as present-biased preferences and the domain effect.
DOI Link: 10.1016/j.joep.2012.03.007
Rights: The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study.
Licence URL(s):

Files in This Item:
File Description SizeFormat 
lades2012towards.pdfFulltext - Published Version244.77 kBAdobe PDFUnder Embargo until 3000-01-01    Request a copy

Note: If any of the files in this item are currently embargoed, you can request a copy directly from the author by clicking the padlock icon above. However, this facility is dependent on the depositor still being contactable at their original email address.

This item is protected by original copyright

Items in the Repository are protected by copyright, with all rights reserved, unless otherwise indicated.

The metadata of the records in the Repository are available under the CC0 public domain dedication: No Rights Reserved

If you believe that any material held in STORRE infringes copyright, please contact providing details and we will remove the Work from public display in STORRE and investigate your claim.