Description
Return log reward ratio per supplied delay.
Decision models distinguish monetary payoffs, probabilities, model values and subjective equivalents. Discounting, probability weighting and reference-dependent utility terms depend on supplied parameters and cannot by themselves establish actual preferences or an appropriate allocation.
Return log reward ratio per supplied delay.
When to use this tool
Use Delayed Reward Log Ratio when evaluating the stated decision-model, lottery or discount contribution.
How to use the tool and how it works
- Enter immediateReward, delayedReward, delay. Use the units and conventions below.
- Run the tool. Correct any format, range, or cross-field input error before interpreting the output.
- Read logRatio, perTimeLogRatio. Use the output convention below.
Return log reward ratio per supplied delay. Require positive immediate/delayed rewards and delay; logRatio = ln(delayed)-ln(immediate), perTimeLogRatio = logRatio/delay.1
| Input field | Meaning and units | Accepted input |
|---|---|---|
| immediateReward | Immediate Reward | Required. Finite number; strictly above 0. |
| delayedReward | Delayed Reward | Required. Finite number; strictly above 0. |
| delay | Delay | Required. Finite number; strictly above 0. |
| Output field | Interpretation | Returned shape |
|---|---|---|
| logRatio | Log Ratio | Required. Finite number. |
| perTimeLogRatio | Per Time Log Ratio | Required. Finite number. |
{
"input": {
"immediateReward": 1,
"delayedReward": 2,
"delay": 2
},
"output": {
"logRatio": 0.6931471805599453,
"perTimeLogRatio": 0.34657359027997264
}
}Limitations and assumptions
- The rate is signed and descriptive; no observed discount preference, interest convention or financial recommendation is established.
- Inputs must satisfy both the field types and the cross-field conditions above. Invalid input causes an error; a successful false flag or documented placeholder is a different result.
- Numeric calculations use binary floating point unless exact decimal-integer arithmetic is explicitly stated. No hidden measurement tolerance or decimal rounding is added; nonfinite or out-of-contract results are rejected. Numeric signed-zero results are exported as zero.
Alternative or Complementary methods
Fit and validate an appropriate complete decision model against relevant observations; distinguish model scores from money and assess actual financial choices separately.
References
Similar or alternative tools
- Delay Unit Framing Offset
Convert a delay to base units and compare with a reference.
- Hyperbolic Discount Equivalent Delay
Invert a hyperbolic equivalent-delay relation.