Hyperbolic Discounting: Why the Present Always Wins
Richard Thaler found that people prefer $15 now over $20 in a month — but are indifferent between $15 in a year and $20 in 13 months.
All articles tagged with "Hyperbolic Discounting"
Richard Thaler found that people prefer $15 now over $20 in a month — but are indifferent between $15 in a year and $20 in 13 months.
Long-term thinking means weighing future consequences as seriously as immediate ones. Learn why our brains resist it and the frameworks that help...