Time discounting and pain anticipation. Experimental evidence
DOI:
https://doi.org/10.3989/ris.2011.04.1AKeywords:
Economic Experiments, Impatience, Pain Anticipation, Time DiscountAbstract
This paper deals with pain anticipation experienced before medical procedures. our experimental results show that individuals with lower time discount factors are more prone to suffer pain in advance. We provide a framework to rationalize the connection between pain anticipation and impatience. in this set up, more impatient subjects, who only value very near events, mainly take into account the present negative effects of medical procedures (the costs), whereas more patient individuals have a net positive valuation of medical events, given that they are able to value both the cost incurred now and all the benefits to be accrued in the future.
Downloads
References
Brandts, J. and E. Fatás. 2011. “social preferences.” Revista Internacional de Sociología this issue.
Brañas-Garza, P., Espinosa, M.P. and Repollés, M. 2010. “Discounting future pain: effect on selfreported pain.” Neuroscience & Medicine 1(1):14-19.
Budría, s., Lacomba, J.A., lagos, F. and swedberg, p. 2011. “When obese people are more patient than non-obese people: a study of post-surgery individuals in a weight loss association.” Revista Internacional de Sociología, this issue. PMid:12805527
Camerer, C. 2003. “Strategizing in the Brain.” Science 300:1673-1675. http://dx.doi.org/10.1126/science.1086215
Colloca l. and Benedetti, F. 2007. “nocebo hyperalgesia: how anxiety is turned into pain.” Current Opinion in Anesthesiology 20:435-439.
Coricelli, G. and Nagel, R.M. 2011. “The neural basis of bounded rational behavior.” Revista Internacional de Sociología this issue.
Cutler, D. and Glaeser, E. 2005. “What explains differences in smoking, drinking and other healthrelated behaviors?” American Economic Review 95: 238-242. http://dx.doi.org/10.1257/000282805774670464 PMid:11796988
Enck, P., Benedetti, F. and Schedlowski, m. 2008. “new insights into the placebo and nocebo responses.”Neuron 59: 195-206.
Fehr, E. 2002. “Behavioral science: the economics of impatience.” Nature 415: 269-272. http://dx.doi.org/10.1038/415269a
García-Gallego, A., Georgantzís, N., Jaramillo-Gutiérrez A. and M. Parravano. 2011. “The lottery-panel task for bi-dimensional parameter-free elicitation of risk attitudes.” Revista Internacional de Sociología this issue. PMid:19348540
Golub, S.A., Gilbert, D.T. and Wilson, T.D. 2009. “Anticipating one’s troubles: The costs and benefits of negative expectations.” Emotion 9: 277-281. http://dx.doi.org/10.1037/a0014716 PMid:17182771
Hariri, A.R., Brown, S.M., Williamson D.E., Flory, J.D, De Wit, H. and Manuk, S.B. 2006. “Preference for immediate over delayed rewards is associated with magnitude of ventral striatal activity.” Journal of Neuroscience 26:13213-13217. http://dx.doi.org/10.1523/JNEUROSCI.3446-06.2006
Kim K. and Zauberman, G. 2009. “Perception of Anticipatory Time in Temporal Discounting.” Journal of Neuroscience, Psychology, and Economics 2:91-101. http://dx.doi.org/10.1037/a0017686
Knutson, B., and Peterson, R. 2005. “Neurally Reconstructing Expected Utility.” Games and Economic Behavior 52:305-315. http://dx.doi.org/10.1016/j.geb.2005.01.002 PMid:16129404
Kuhnen, C., and Knutson, B. 2005. “The Neural Basis of Financial Risk Taking.” Neuron 47:763-770. http://dx.doi.org/10.1016/j.neuron.2005.08.008 PMid:17522323
laibson, D. 1997. “Golden eggs and hyperbolic discounting.” Quarterly Journal of Economics 42:861-871.
McClure, S.M, Ericson, K., Laibson, D., Loewenstein, G. and Cohen, J. 2007. “Time Discounting for primary rewards.” Journal of Neuroscience 27:5796-5804. http://dx.doi.org/10.1523/JNEUROSCI.4246-06.2007 PMid:15486304
Mcclure, S.M, Laibson, D., Loewenstein, G. and Cohen, J. 2004. “Separate neural systems value immediate and delayed monetary rewards.” Science, 306: 503-507. http://dx.doi.org/10.1126/science.1100907
Smith, K., Dickhaut, J., McCabe, K., and Pardo, J.V. 2002. “Neuronal Substrates for Choice under ambiguity, risk, Gains, and losses.” Management Science 48: 711-718. http://dx.doi.org/10.1287/mnsc.48.6.711.194
Viscusi, W.K., Huber, J. and Bell, J. 2008. “Estimating discount rates for environmental quality from utility-based choice experiments.” Journal of Risk and Uncertainty 37:199-220. http://dx.doi.org/10.1007/s11166-008-9045-x
Wittmann, M. and Paulus, M.P. 2009. “intertemporal choice: neuronal and psychological Determinants of economic Decisions.” Journal of Neuroscience, Psychology, and Economics 2:71-74. http://dx.doi.org/10.1037/a0017695
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2012 Consejo Superior de Investigaciones Científicas (CSIC)
This work is licensed under a Creative Commons Attribution 4.0 International License.
© CSIC. Manuscripts published in both the print and online versions of this journal are the property of the Consejo Superior de Investigaciones Científicas, and quoting this source is a requirement for any partial or full reproduction.
All contents of this electronic edition, except where otherwise noted, are distributed under a Creative Commons Attribution 4.0 International (CC BY 4.0) licence. You may read the basic information and the legal text of the licence. The indication of the CC BY 4.0 licence must be expressly stated in this way when necessary.
Self-archiving in repositories, personal webpages or similar, of any version other than the final version of the work produced by the publisher, is not allowed.
