Myopic Discounting - Deepstash
Myopic Discounting

Myopic Discounting

Myopic discounting is the reversal of preference based on the distance to the reward. Its name derives from myopia, which means a lack of discernment or foreseeing. 

The preference reversal is called myopic, or nearsighted, because we see an attractive temptation that is near to us in time all too clearly, while the faraway choices are emotionally blurred and (a bit contrary to the ophthalmological metaphor) we judge them more objectively.

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Biases distort our cognitive system and prevent us from making rational decisions. The myth that we are reasonable creatures stems from the incorrect assumption that our brains are, by default, instruments of logic. Through analyzing the most common cognitive fallacies, we’re taken on a journey through the mechanics of the mind towards the root of our irrationality, which the author argues is due to motives shaping our judgment.

The idea is part of this collection:

The Philosophy Of Alan Watts

Learn more about psychology with this collection

Understanding the concept of the self

The importance of living in the present moment

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