Attention-Deficit/Hyperactivity Disorder, Delay Discounting, and Risky Financial Behaviors: A Preliminary Analysis of Self-Report Data

PLoS ONE, Vol. 12(5): e0176933, 2017

11 Pages Posted: 15 May 2017

See all articles by Theodore P. Beauchaine

Theodore P. Beauchaine

Ohio State University (OSU)

Itzhak Ben-David

Ohio State University (OSU) - Department of Finance; National Bureau of Economic Research (NBER)

Aner Sela

University of Florida - Department of Marketing

Date Written: May 8, 2017

Abstract

Delay discounting — often referred to as hyperbolic discounting in the financial literature — is defined by a consistent preference for smaller, immediate rewards over larger, delayed rewards, and by failure of future consequences to curtail current consummatory behaviors. Previous research demonstrates (1) excessive delay discounting among individuals with attention-deficit/hyperactivity disorder (ADHD), (2) common neural substrates of delay discounting and hyperactive-impulsive symptoms of ADHD, and (3) associations between delay discounting and both debt burden and high interest rate borrowing. This study extends prior research by examining associations between ADHD symptoms, delay discounting, and an array of previously unevaluated financial outcomes among 544 individuals (mean age 35 years). Controlling for age, income, sex, education, and substance use, ADHD symptoms were associated with delay discounting, late credit card payments, credit card balances, use of pawn services, personal debt, and employment histories (less time spent at more jobs). Consistent with neural models of reward processing and associative learning, more of these relations were attributable to hyperactive-impulsive symptoms than inattentive symptoms. Implications for financial decision-making and directions for future research are discussed.

Keywords: ADHD, Attention-Deficit, Hyperactivity, Disorder, Delay Discounting, Hyperbolic Discounting, Risky Financial Behaviors

Suggested Citation

Beauchaine, Theodore P. and Ben-David, Itzhak and Sela, Aner, Attention-Deficit/Hyperactivity Disorder, Delay Discounting, and Risky Financial Behaviors: A Preliminary Analysis of Self-Report Data (May 8, 2017). PLoS ONE, Vol. 12(5): e0176933, 2017. Available at SSRN: https://ssrn.com/abstract=2967889

Theodore P. Beauchaine

Ohio State University (OSU) ( email )

Blankenship Hall-2010
901 Woody Hayes Drive
Columbus, OH OH 43210
United States

Itzhak Ben-David (Contact Author)

Ohio State University (OSU) - Department of Finance ( email )

2100 Neil Avenue
Fisher 700D
Columbus, OH 43210-1144
United States
773 988 1353 (Phone)

HOME PAGE: http://fisher.osu.edu/fin/faculty/Ben-David/index.htm

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

HOME PAGE: http://fisher.osu.edu/fin/faculty/Ben-David/

Aner Sela

University of Florida - Department of Marketing ( email )

267F Stuzin Hall
Gainesville, FL 32611
United States

HOME PAGE: http://sites.google.com/view/anersela/home

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