Hyperbolic Discounting: $100 Now or $200 Later?
E
Economics / Psychology Contributor
The Present Bias
Would you prefer 110 tomorrow? Most say 100 in 30 days or 110 in 31 days.
Logically, the difference is the same (waiting 1 day for $10). But our brain applies a massive “discount” to anything that is not right now.
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