Difference between revisions 109097399 and 109097400 on dewiki

{{No footnotes|date=October 2008}}

Given two similar rewards, humans show a preference for one that arrives sooner rather than later. Humans are said to ''discount'' the value of the later reward, by a factor that increases with the length of the delay.  In [[behavioral economics]], '''hyperbolic discounting''' is a particular mathematical model thought to approximate this discounting process; that is, it models how humans actually make such valuations.  Hy(contracted; show full)
More recently these observations about [[discount function]]s have been used to study saving for retirement, borrowing on credit cards, and [[procrastination]]. However, hyperbolic discounting has been most frequently used to explain [[Substance dependence|addiction]].

==See also==
* [[Time value of money]]
* [[Time preference]]
* [[Intertemporal choice]]
* [[
dDeferred gGratification]]

==References==
===Footnotes===
<references />
===General references===
* Ainslie, G. W. (1975) Specious reward: A behavioral theory of impulsiveness and impulsive control. ''Psychological Bulletin'', 82, 463-496.
* Ainslie, G. (1992) ''Picoeconomics: The Strategic Interaction of Successive Motivational States Within the Person''. Cambridge. Cambridge University Press.
(contracted; show full)
* Rachlin, H. (2000). ''The Science of Self-Control'' Cambridge;London: Harvard University Press
* Raineri,A., and Rachlin, H. (1993). The effect of temporal constraints on the value of money and other commodities. ''Journal of Behavioral Decision-Making, 6,'' 77-94.

[[Category:Cognitive biases]]
[[Category:Behavioral finance]]

[[pl:Hiperboliczne obniżenie wartości]]