A naive justification of hyperbolic discounting from mental algebraic operations and functional analysis

Abstract

<abstract><sec><title>Background</title><p>Intertemporal decision-making, which involves making choices between outcomes at different time points, is a fundamental aspect of human behavior. Understanding the underlying mental processes is vital for comprehending the complexities of human decision-making and choice behavior.</p> </sec> <sec><title>Objective</title><p>The main objective of this study is to investigate the interplay of mental processes, specifically cognitive evaluation, subjective valuation, and comparison, in the context of intertemporal decision-making, with a specific focus on understanding the discounting process.</p> </sec> <sec><title>Methodology</title><p>Development of a mathematical representation of the discounting process that incorporates the mental processes associated with intertemporal decision-making.</p> </sec> <sec><title>Result</title><p>Our findings indicate that hyperbolic discounting aligns well with the cognitive processes underlying intertemporal decision-making. Subsequent research will employ qualitative questionnaires to establish the discount function relevant to specific groups, thereby enhancing our comprehension of the discounting process within intertemporal decision-making.</p> </sec></abstract>