Discounting the future refers to
A)valuing longer-term benefits and costs more heavily than shorter-term benefits and costs.
B)overestimating the long-term effects of the decision.
C)underestimating the short-term effects of the decision.
D)valuing short-term benefits and costs more heavily than longer-term benefits and costs.
E)making quick decisions with whatever information is at hand.

Question

Quizplus · Accepted Answer

Discounting the future refers to valuing short-term benefits and costs more heavily than longer-term benefits and costs. This means that people tend to prioritize immediate satisfaction or gain over long-term outcomes, which can lead to negative consequences in the future. For example, someone might choose to indulge in unhealthy food now rather than investing in a healthier lifestyle for the long-term.

Discounting the Future Refers to