Choice bundling, unpacked: Observed and predicted effects on intertemporal choice in an additive model of hyperbolic delay discounting

Jeffrey S Stein and Gregory J Madden

PLOS ONE, 2021, vol. 16, issue 11, 1-18

Abstract: One method known to increase preference for larger, later rewards (LLRs) over smaller, sooner rewards (SSRs) is choice bundling, in which a single choice produces a series of repeating consequences over time. The present study examined whether effects of choice bundling on preference for LLRs: (1) increase with the number of rewards in the bundle (i.e., bundle size); (2) are independent of differences in reward magnitude between conditions; and (3) accord with predictions of an additive model of hyperbolic delay discounting, in which the value of a bundle of rewards can be expressed as the summed discounted value of all rewards in that bundle. Participants (N = 252) completed a choice task to assess valuation of monetary LLRs at bundle sizes of 1 (control), 3, and 9 rewards per choice (ascending/descending order counterbalanced). To control for the magnitude effect, the total reward amounts were held constant across conditions. Choice bundling significantly increased LLR preference (p

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:plo:pone00:0259830

DOI: 10.1371/journal.pone.0259830

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