: SAGE: hyperbolic discounting

social science subjects > psychology > social psychology > judgment and decision making > hyperbolic discounting

hyperbolic discounting

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]

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