Criticism
An article from 2003 noted that the evidence might be better explained by a similarity heuristic than by hyperbolic discounting. Similarly, a 2011 paper criticized the existing studies for mostly using data collected from university students and being too quick to conclude that the hyperbolic model of discounting is correct.
A study by Daniel Read introduces "subadditive discounting": the fact that discounting over a delay increases if the delay is divided into smaller intervals. This hypothesis may explain the main finding of many studies in support of hyperbolic discounting—the observation that impatience declines with time–while also accounting for observations not predicted by hyperbolic discounting.
Read more about this topic: Hyperbolic Discounting
Famous quotes containing the word criticism:
“The greater the decrease in the social significance of an art form, the sharper the distinction between criticism and enjoyment by the public. The conventional is uncritically enjoyed, and the truly new is criticized with aversion.”
—Walter Benjamin (1892–1940)
“Good criticism is very rare and always precious.”
—Ralph Waldo Emerson (1803–1882)
“In criticism I will be bold, and as sternly, absolutely just with friend and foe. From this purpose nothing shall turn me.”
—Edgar Allan Poe (1809–1845)