The Q-Exponential Decay of Subjective Probability for Future Reward: A Psychophysical Time Approach

Entropy

Taiki Takahashi¹  Shinsuke Tokuda²  Masato Nishimura² 

[1] Department of Behavioral Science, Center for Experimental Research for Social Science, Center for Brain Science; N.10, W.7, Kita-ku, Sapporo 060-0810, Japan;

关键词: q-exponential function;    Tsallis thermostatistics;    finance;    econophysics;    neuroeconomics;   

DOI  :  10.3390/e16105537

来源: mdpi

【 摘 要 】

This study experimentally examined why subjective probability for delayed reward decays non-exponentially (“hyperbolically”, i.e., q < 1 in the q-exponential discount function) in humans. Our results indicate that nonlinear psychophysical time causes hyperbolic time-decay of subjective probability for delayed reward. Implications for econophysics and neuroeconomics are discussed.

PACS Codes: 87.10.Mn

【 授权许可】

CC BY   
© 2014 by the authors; licensee MDPI, Basel, Switzerland