Browse & Filter Biases

Showing 187 biases.

Need To Act Fast

To stay focused, we favor the immediate, relatable thing in front of us

Hyperbolic discounting

Description

The tendency for people to increasingly choose a smaller-sooner reward over a larger-later reward as the delay occurs sooner rather than later in time.

Hyperbolic discounting in business decision

An employee might choose a small, immediate bonus over a significantly larger bonus deferred for a year, especially if the immediate reward can be obtained very quickly.

Hyperbolic discounting in personal life decision

You choose $50 now instead of $100 in a year, valuing immediate rewards over larger future ones.