Many important decisions concerning our health, wellness, finances and careers are affected by Hyperbolic Discounting. Listen to Suchitra G and Jyothi Sridhar on this episode in our Rarely Rational series, talk about this cognitive bias and why we value immediate rewards more than those that are long term.
- The future of Buy now pay later in India
- What is Hyperbolic Discounting?
- Credit cards and loyalty points use this cognitive bias
- Instant gratification and procrastination as a result of hyperbolic discounting.
- Why does it happen?
- How to avoid it?
- Marshmallow experiment
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