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In behavioral economics, time preference (or time discounting, [1] delay discounting, temporal discounting, [2] long-term orientation [3]) is the current relative valuation placed on receiving a good at an earlier date compared with receiving it at a later date. [1] Applications for these preferences include finance, health, climate change.
Time discounting or temporal discounting is a wide range of ideas involving the connection between time and the extent to which an object, situation, or course of action is seen as valuable. The overall theory is that people put more value and worth into immediate events and outcomes, and apply less value to future outcomes or events.
This page lists peer-reviewed academic journals in educational psychology and closely related fields.. Academy of Management Learning & Education; American Journal of Distance Education
The phenomenon of hyperbolic discounting is implicit in Richard Herrnstein's "matching law", which states that when dividing their time or effort between two non-exclusive, ongoing sources of reward, most subjects allocate in direct proportion to the rate and size of rewards from the two sources, and in inverse proportion to their delays. [8]
Exponential discounting yields time-consistent preferences. Exponential discounting and, more generally, time-consistent preferences are often assumed in rational choice theory, since they imply that all of a decision-maker's selves will agree with the choices made by each self. Any decision that the individual makes for himself in advance will ...
International Journal of Mentoring and Coaching in Education; Journal of Educational Psychology; Journal of Positive Behavior Interventions; Journal of Psychoeducational Assessment; Journal of Research in Reading; Learning and Individual Differences; Mind, Brain, and Education; Psychology in the Schools; School Psychology
Hyperbolic discounting, where discounting is the tendency for people to have a stronger preference for more immediate payoffs relative to later payoffs. Hyperbolic discounting leads to choices that are inconsistent over time—people make choices today that their future selves would prefer not to have made, despite using the same reasoning. [52]
In findings presented in the journal Proceedings of the Royal Society B in 2021, Marine Biological Laboratory, researchers described cuttlefish (Sepia officinalis) that were able to pass an adapted version of the marshmallow test. Cephalopods engage in "future-oriented foraging" and the nine-month-old cuttlefish in the experiments were able to ...