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economics
You value a small reward today over a larger one.
Hyperbolic discounting is the tendency for people to choose smaller, immediate rewards over larger, later rewards as the delay to the larger reward increases.
Studies show that as time passes, the perceived value of a future reward drops dramatically. This creates a conflict between your 'present self' and 'future self,' where the urgency of the moment overrides long-term benefit. You are wired to favor the immediate because the future is psychologically distant.
Your current impulses are fighting your future interests.
Where this comes from
- Study
- Mazur, 1987, Quantitative Analyses of Behavior
- What the check found
- The definition is accurate to standard behavioral economic literature. While the provided reference does not contain a direct quote, the claim describes a well-established effect in the field, meeting the criteria for support.
- Confidence
- Solid, with limits
Related
One of these every day, and every one names the study it came from. When a finding is contested, it says so.