Temporal Discounting—Now or Later?
Lecture no. 9 from the course: Behavioral Economics: When Psychology and Economics Collide
Taught by Professor Scott Huettel | 29 min | Categories: The Great Courses Plus Online Economics & Finance Courses
Now consider a fundamental challenge in decisions involving time: temporal discounting, or the human tendency to view rewards as worth less in the future than they are in the present. Study real-life examples of this phenomenon, three explanations for why it occurs, and key approaches to making better time-related decisions.