stackyFACTSPromising a starving person a magnificent feast next Thursday is a terrible way to alleviate their immediate agony.
Promising a starving person a magnificent feast next Thursday is a terrible way to alleviate their immediate agony. Positive time preference indicates that individuals inherently value receiving goods in the present far more than receiving the exact same goods in the future. Because the future is uncertain and waiting is agonizing, rational actors will heavily discount delayed rewards, heavily favoring instant gratification over larger, but distant, payoffs.
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