Time preference is the same from person to person.

Name: Time preference is the same from person to person.
Brand: Quizplus
Rating: 4.7 (39 reviews)

Question

Quizplus · Accepted Answer

Time preference can vary from person to person, depending on various factors such as age, culture, personality, and individual circumstances. Some people may have a high time preference, meaning they prefer immediate gratification, while others may have a low time preference, indicating a greater willingness to delay gratification for a larger reward in the future.

Time Preference Is the Same from Person to Person