Delay Discounting: Does time really equal money?

Today we're talking about delay discounting, sometimes called hyperbolic discounting. How it matters for you, how it relates to impulsivity, and how it can be modeled mathematically. Note: This is the most common delay discounting formula; there are others, but this is a great starting point. Further Reading: Cheng, Y. S., Ko, H. C., Sun, C. K., & Yeh, P. Y. (2021). The relationship between delay discounting and Internet addiction: A systematic review and meta-analysis. Addictive Behaviors, 114, 106751. https://doi.org/10.1016/j.addbeh.2020.106751 Odum, A. L. (2011). Delay discounting: I'm a k, you're a k. Journal of the experimental analysis of behavior, 96(3), 427-439. https://doi.org/10.1901/jeab.2011.96-423 Croote, D. E., Lai, B., Hu, J., Baxter, M. G., Montagrin, A., & Schiller, D. (2020). Delay discounting decisions are linked to temporal distance representations of world events across cultures. Scientific reports, 10(1), 1-13. https://doi.org/10.1038/s41598-020-69700-w Tang, J., Chrzanowski-Smith, O. J., Hutchinson, G., Kee, F., & Hunter, R. F. (2019). Relationship between monetary delay discounting and obesity: a systematic review and meta-regression. International Journal of Obesity, 43(6), 1135-1146. https://doi.org/10.1038/s41366-018-0265-0