Time Preference. It is a phenomenon where the more distant a result is from the present, the more rational decisions seem, while closer results tend to lead to more emotional choices. When thinking about the distant future, we usually approach it rationally. However, when making decisions right now, we often act emotionally instead of rationally. This time preference significantly impacts areas such as finances, health, work, sleep, procrastination, and texting. For example, dieting is hard when delicious food is right in front of you; people often say it starts tomorrow, not today, because weight loss doesn’t happen overnight but over weeks or months. - Joseph’s “just my thoughts”
Time Preference. It is a phenomenon where the more distant a result is from the present, the more rational decisions seem, while closer results tend to lead to more emotional choices. When thinking about the distant future, we usually approach it rationally. However, when making decisions right now, we often act emotionally instead of rationally. This time preference significantly impacts areas such as finances, health, work, sleep, procrastination, and texting. For example, dieting is hard when delicious food is right in front of you; people often say it starts tomorrow, not today, because weight loss doesn’t happen overnight but over weeks or months. - Joseph’s “just my thoughts”