time preference
/ˈtaɪm ˌprefərəns/
the relative valuation placed on receiving good at an earlier date compared with a later date
time preference in a sentence
“High time preference leads to impulsive spending.”
Origin of time preference
Economic concept related to patience
Related Words
deliberate practice
purposeful and systematic practice aimed at improving performance
deep work
professional activities performed in a state of distraction-free concentration
efficiency
the state or quality of achieving maximum productivity with minimum wasted effort
efficacy
the ability to produce a desired or intended result
opportunity cost
the loss of potential gain from other alternatives when one alternative is chosen