Delay Discounting and Preference Reversals by Cigarette Smokers

Quit attempts made by smokers that result in relapse to smoking are conceptualized in behavioral economics as preference reversals, in which preference for a larger-later outcome switches to preference for a smaller-sooner outcome. Though preference reversals are predicted by models of delay discounting, we are aware of no human research that has explicitly established that rate of delay discounting is associated with preference reversals. The present study attempted to establish this connection. Assessments of delay discounting of hypothetical money rewards at two magnitudes ($50, $1000) were examined from forty-five smokers, as well as a novel preference reversal task designed to determine when a preference reversal would occur for the same amounts of hypothetical money. Results from the preference reversal task were used to classify participants as predicted high, moderate, and low discounters, and rates of delay discounting were compared between these classifications at each magnitude. Statistically significant differences were observed between predicted high and low discounters in both magnitude conditions, and between predicted high and moderate discounters in the $1000 magnitude condition. Correlations between delay discounting and preference reversal amongst moderate discounters, though in the predicted direction, did not reach statistical significance. The overall pattern of results are consistent with the indication that rate of delay discounting is associated with the timing of preference reversals.