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Reliability and Validity of Behavioral Economic...
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Reliability and Validity of Behavioral Economic Measures: A Review and Synthesis of Discounting and Demand

Abstract

This review aimed to synthesize the literature on the reliability and validity of behavioral economic measures of demand and discounting in human research, introduce behavioral economic research methodologies for studying addictive behaviors, discuss gaps in the current literature, and review areas for future research. A total of 34 studies were included in this review. The discounting literature shows similar responding regardless of whether hypothetical or actual outcomes are used, though people tend to discount the outcome presented first more steeply, suggesting order effects. While delay discounting measures seem to show temporal stability, exceptions were found for probability and experiential discounting tasks. The demand literature also demonstrates similar responding regardless of outcome type; however, some demand indices showed exceptions. Randomized price sequences tended to show modest increases in Omax and α and modestly higher rates of inconsistent or nonsystematic responses compared to sequential price sequences. Demand indices generally show temporal stability, although stability is weaker the larger the time interval between test sessions. Future studies would benefit by examining addictive commodities beyond alcohol, nicotine, and money, examining temporal stability over longer time intervals, using larger delays in discounting tasks, and using larger sample sizes.

Authors

Miller BP; Reed DD; Amlung M

Publication date

March 3, 2023

DOI

10.31234/osf.io/zra5w

Preprint server

PsyArXiv

Labels

Sustainable Development Goals (SDG)

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