Anticipation and Choice Heuristics in the Dynamic Consumption of Pain Relief
Figure 3
Anticipation-discounting functions.
Anticipation-discounting functions are constructed from a linear combination of the conventionally discounted value of an outcome, i.e. its instantaneous anticipation, and the prospective sum of anticipation whilst waiting for the outcome, displayed here for an outcome with positive utility. A Where prospective anticipation (savoring) dominates, the overall value of the outcome decreases as it draws nearer, due to decreasing prospective anticipation. B Where discounting dominates, the overall value of the outcome increases as it draws nearer due to increasing instantaneous anticipation.