hyperbolic discounting
/ˌhaɪpərˈbɒlɪk ˈdɪskaʊntɪŋ/
preferring smaller immediate rewards over larger later ones
hyperbolic discounting in a sentence
“Hyperbolic discounting explains procrastination.”
Origin of hyperbolic discounting
From hyperbolic (Greek hyperbole excess) + discounting
Related Words
framing effect
different reactions to the same information based on presentation
herd behavior
following the crowd rather than independent analysis
status quo bias
preference for the current state of affairs
mental accounting
treating money differently based on subjective categories
nudge
subtle policy changes that guide behavior without mandates
bounded rationality
decision-making limited by information, time, and cognitive capacity