Hyperbolic Discounting - Deepstash

Hyperbolic Discounting

It's a tendency to heavily weigh the moment which is closer to the present, as compared to something in the near or distant future.

Example: If you are offered a choice of $150 right now or $180 after 30 days, you would be more inclined to choose the money you are offered right now. However, if we take the present moment out of the equation, and put this offer in the distant future, where you are offered $150 in 12 months or $180 in 13 months, your choice is likely to be the latter one.

280

845 reads

CURATED FROM

IDEAS CURATED BY

robhh

Silence is the way to avoid many problems & Smile is the way to solve many problems.

The idea is part of this collection:

Beat Procrastination

Learn more about problemsolving with this collection

How to create a productive environment

The importance of self-care in productivity

How to avoid distractions

Related collections

Similar ideas to Hyperbolic Discounting

Temporal Discounting

It is a quirk which makes us value the present opportunity more than a future opportunity. This is known as ‘Present Bias’ in psychology.

Example: If offered a choice between getting $100 now or $150 after a year, we are more likely to take up the money offered right n...

Delay discounting

Our tendency to devalue money and other goods based on time is called delay discounting.

This is an important aspect in procrastination because the completion of the project happens in the future. Finishing a project is a delayed reward, so its value in the present is redu...

Temporal discounting

Temporal discounting

We tend to pay attention to the present at the expense of the future. Our present self will eat an extra piece of cake, or skip a training session, or procrastinate and leave our future self to deal with the consequences. This is known as temporal discounting.

Read & Learn

20x Faster

without
deepstash

with
deepstash

with

deepstash

Personalized microlearning

100+ Learning Journeys

Access to 200,000+ ideas

Access to the mobile app

Unlimited idea saving

Unlimited history

Unlimited listening to ideas

Downloading & offline access

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates