Comparative Analysis of Questionnaire and Behavioral Indicators of Delayed Discounting
Faculty Mentor Name
Matthew Normand
Research or Creativity Area
Social Sciences
Abstract
Delayed discounting is the decrease in the subjective value of a reward with the increase in delay to obtaining the reward. Delayed discounting is commonly assessed using hypothetical choice questionnaires such as the Monetary Choice Questionnaire (MCQ-27), yet the extent to which such measures reflect real-world decision-making remains unclear. This study aimed to assess the ecological validity of the MCQ-27 by comparing participants’ responses on the questionnaire with their choice with real-life consequences.
University students (N = 9) completed the MCQ-27 during an in-person session. Following the questionnaire, participants were presented with a question that was identical to the one on the questionnaire: would you prefer $14 today or $25 in 19 days, but this question determined the amount of compensation for participation in the study. The primary dependent variable was the correspondence between hypothetical and real choices.
Results showed complete correspondence between hypothetical and real choices: all participants selected the larger, delayed reward on the specified question on the questionnaire and in the real-choice task. Notably, participants’ discounting rates (k-values) varied significantly, indicating individual differences despite uniform behavioral outcomes.
These findings provide support for the ecological validity of the MCQ-27, suggesting that hypothetical delay discounting tasks may approximate real decision-making. However, the lack of variability in answers and the use of a single comparison item limit the strength of this conclusion. Future research should incorporate multiple reference questions and more heterogeneous samples to better evaluate the relationship between hypothetical and real-world intertemporal choice.
Comparative Analysis of Questionnaire and Behavioral Indicators of Delayed Discounting
Delayed discounting is the decrease in the subjective value of a reward with the increase in delay to obtaining the reward. Delayed discounting is commonly assessed using hypothetical choice questionnaires such as the Monetary Choice Questionnaire (MCQ-27), yet the extent to which such measures reflect real-world decision-making remains unclear. This study aimed to assess the ecological validity of the MCQ-27 by comparing participants’ responses on the questionnaire with their choice with real-life consequences.
University students (N = 9) completed the MCQ-27 during an in-person session. Following the questionnaire, participants were presented with a question that was identical to the one on the questionnaire: would you prefer $14 today or $25 in 19 days, but this question determined the amount of compensation for participation in the study. The primary dependent variable was the correspondence between hypothetical and real choices.
Results showed complete correspondence between hypothetical and real choices: all participants selected the larger, delayed reward on the specified question on the questionnaire and in the real-choice task. Notably, participants’ discounting rates (k-values) varied significantly, indicating individual differences despite uniform behavioral outcomes.
These findings provide support for the ecological validity of the MCQ-27, suggesting that hypothetical delay discounting tasks may approximate real decision-making. However, the lack of variability in answers and the use of a single comparison item limit the strength of this conclusion. Future research should incorporate multiple reference questions and more heterogeneous samples to better evaluate the relationship between hypothetical and real-world intertemporal choice.
