These tools will no longer be maintained as of December 31, 2024. Archived website can be found here. PubMed4Hh GitHub repository can be found here. Contact NLM Customer Service if you have questions.


Pubmed for Handhelds

PUBMED FOR HANDHELDS

Search MEDLINE/PubMed

  • Title: Diminishing marginal value as delay discounting.
    Author: Rachlin H.
    Journal: J Exp Anal Behav; 1992 May; 57(3):407-15. PubMed ID: 1602271.
    Abstract:
    The fundamental law underlying economic demand and exchange is the tendency for value of marginal units to diminish with increasing amounts of a commodity. The present paper demonstrates that this law follows from three still-more-basic psychological assumptions: (a) limited consumption rate, (b) delay discounting, and (c) choice of highest valued alternative. Cases of diminishing marginal value apparently due to pure intensity of reward may plausibly be attributed to the above three factors. The further assumption that maximum consumption rate may vary within and across individuals implies that some substances may be unusually addictive and that some individual animals may be unusually susceptible to addiction.
    [Abstract] [Full Text] [Related] [New Search]