hyperbolic discounting
type: Concept
definition: Definition Hyperbolic discounting refers to the tendency for people to increasingly choose a smaller-sooner reward over a larger-later reward as the delay occurs sooner rather than later in time. When offered a larger reward in exchange for waiting a set amount of time, people act less impulsively (i.e., choose to wait) as the rewards happen further in the future. [Source: Encyclopedia of Social Psychology; Hyperbolic Discounting]
broader: judgment and decision making

judgment and decision making
type: Concept
narrower: hyperbolic discounting

concepts
type: Collection
type: ConceptGroup
member: hyperbolic discounting