MONEY/REAL LIFE 1
Someone might choose a monthly fee over a yearly fee because...
the monthly fee appears cheaper.
Companies might offer an initial discount and then raise the price of something as a way to...
take advantage of hyperbolic discounting.
The word "Hyperbolic" means...
relating to something not meant to be taken seriously.
Scrolling on social media instead of studying is an example of...
Real Life Hyperbolic Discounting
Going to the laundromat instead of buying and using your own washer and dryer is an example of money or real life?
money - it's more expensive.
"Instant reward instead of waiting longer for something better." This definition refers to...
Immediate Gratification
Because of hyperbolic discounting, you might opt to watch a movie instead of...
going to a job interview.
Hyperbolic Discounting is a type of bias called...
cognitive bias.
Someone who prioritizes the now reward over the later reward showcases a subtype of bias called...
Why might people prefer immediate gratification instead of a long-term investment?
Because of uncertainty and anxiety.
An extreme, very expensive, and luck-based example of hyperbolic discounting is...
Priming
A way to overcome hyperbolic discounting, if you struggle with commitment, is...
priming (makes you prioritize).
The word "discounting" in "hyperbolic discounting" is there because...
humans "discount" the value of the later reward.
The creators of this presentation were born on...
Allen: July 13th
Guadalupe: January 2nd
Gery: November 20th