Heuristics of intertemporal choice
Standard models of intertemporal choice assume that individuals discount or subjectively devalue delayed rewards. But what if we don't discount? Rubinstein (2003) and Leland (2002) have proposed a similarity-based heuristic for decision making in these scenarios: compare whether the values within one attribute (reward amount or time delay) are similar and if so choose based on the other. I am testing whether a similarity-based heuristic can provide an alternative account of intertemporal choices (Stevens 2016) and what factors determine smilarity judgments (Stevens and Soh, 2018).