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Abstract

Participants ordered music CDs and bargained for delivery time and fees in a simulated on-line store. After ordering a CD, participants engaged in a delivery-fee bargaining task that was embedded in a psychophysical up–down staircase titration procedure in which options of next-day delivery for a fee and delayed free delivery were made more or less attractive based on previous choices. A hyperbolic function derived from the matching law fit the data. These results are consistent with a behavioral-economic account of intertemporal choice in which delivery fees are seen as a swap of money for time. © 2005 Wiley Periodicals, Inc.