Concept information
Preferred term
hyperbolic discounting
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 concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/hyperbolic_discounting
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