One explanation for why akrasia rules our lives and procrastination pulls us in has to do with a behavioral economics term called “time inconsistency.” Time inconsistency refers to the tendency of the human brain to value immediate rewards more highly than future rewards.
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It refers to our tendency to choose immediate rewards over future rewards. It's why we make plans, but don't take action.
When we make plans, we are actually making plans for our future selves. But when the time comes to make a decision, we are in the moment and our brain is thinking...
Studies show that there’s correlation between human behavior change and immediate rewards. Receiving immediate rewards releases dopamine in our brains, which compels us to seek more of the activity at hand.
By itself this isn’t enough to form a habit, for that, the...
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...
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