Temporal Discounting
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Temporal Discounting
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About this listen
Why do we choose short-term rewards even when we know waiting would be better? In this episode of Circuit Breaker: Rewiring Your Decisions, we explore temporal discounting - the tendency to value immediate rewards more highly than future ones, even when the future payoff is larger or wiser.
Discover how time distorts our judgement, and how understanding this bias can help you make decisions that you future self will actually thank you for.
Studies and links:
Time Discounting and Time Preference: A Critical Review | Shane Frederick, George Loewenstein and Ted O'Donoghue | Journal of Economic Literature Vol. XL | Carnegie Mellon University TimeDiscounting.pdf
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