Hyperbolic discounting
People value small short-term payoffs more than much higher long-term payoffs.
Immediately related elementsHow this works
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The Global Financial Crisis »The Global Financial Crisis
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Long-term causes of the financial crisis? »Long-term causes of the financial crisis?
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Human cognitive biases »Human cognitive biases
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Forms of human cognitive bias? »Forms of human cognitive bias?
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Hyperbolic discounting
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