Reptilian brain · Loss, Risk & Scarcity
Hyperbolic Discounting
The value of a reward falls steeply for short delays and gently for long ones, so preferences flip as a date approaches: the diet starts Monday until Monday comes.
An everyday example
Choosing the cheaper plan with the balloon payment in year three, then hating year three.
What it can cost you
Commitments made for a future self who will not agree; offers that push cost past the steep part of the curve.
Warning signs
- The pain is conveniently later.
- Future me will handle it.
One thing to do
Evaluate any deferred cost as if it were due next week; if you would not pay it then, do not defer it.
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