Under hyperbolic discounting, a person discounts the long term future more heavily than the near term future.

Question

Quizplus · Accepted Answer

Hyperbolic discounting is a type of time discounting where the value of future rewards is discounted more heavily as the time to receive them increases. This means that people will place a higher value on receiving a reward in the near future compared to receiving the same reward in the distant future.

Under Hyperbolic Discounting, a Person Discounts the Long Term Future