Latest / Behavioral Economics with Fexingo: Decision Making, Bias, and How People Really Spend
Hyperbolic Discounting Why You Choose Now Over Later
Why do we consistently pick a smaller reward today over a larger one tomorrow? In episode 11 of Behavioral Economics with Fexingo, Lucas and Luna explore hyperbolic discounting — the cognitive bias that makes future rewards feel less valuable the closer we get to the present. Using the classic marshmallow test and a 2023 study on procrastination and financial planning, they break down how this bias affects everything from retirement savings to dieting. They also discuss practical strategies to counter it, like commitment devices and pre-commitment contracts. If you've ever wondered why…
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