Scarcity Enhances Outcome Evaluation in the Present: Electroencephalography Evidence

Abstract

Scarcity goods have generally been perceived as high in value in real-world and empirical studies. However, few studies have investigated this value over time, such as performance in intertemporal decision making. This study’s chief objective was to determine how scarcity evaluation changes temporally. We used the electroencephalogram technique and an outcome evaluation task with the valuation of scarcity and ordinary rewards delivered at different times to explore the effect of scarcity on delay discounting. The feedback-related negativity (FRN) results show that ordinary goods were associated with a more negative amplitude than scarcity goods, and that rewards delivered in the future evoked more negative deflection compared to those delivered immediately. The prominent FRN effect was derived mainly from ordinary trials rather than scarcity trials in the immediate condition and in the future rather than only in the immediate condition. The Frontal Asymmetry Index (FAI) results show that the scarcity condition was associated with greater relative left frontal cortical activity than the ordinary condition when delivered immediately. The frontal asymmetry indicated greater approach motivation. Our electrophysiology data indicate that scarcity goods have a perceived high value, particularly when delivered immediately.

Keywords

• scarcity
• evaluation
• delay discounting
• reward
• FRN
• frontal asymmetry index