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Similar ideas to Time inconsistency
Long-Term Consequences
Thinking about the future can guide us to make choices that reflect our beliefs and objectives.
Benefits of Considering the Future:
- Make informed and responsible decisions
- Stay true to our values and goals
- Avoid short-term gratification
- Ha...
The Immediate vs Delayed Return Environment
Immediate-return environment: your actions instantly deliver clear and immediate outcomes.
Delayed Return Environment: the choices you make today will not benefit you immediately. If you save money now, you'll have enough for retirement later.
The answer to inconsistency
To beat procrastination and make better long-term choices, find a way to make your present self act in the best interest of your future self. You have 3 primary options:
- Make the rewards of long-term behavior more immediate.
- Make the costs of procrastination more immediate.
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