Definition Dictionary

Postponing an immediate pleasure or reward in order to obtain a more valued benefit later.

The ability to make clear, firm decisions without undue delay.

A model that reduces the present value of a future outcome by the same proportional factor for each equal unit of delay.

To prevent or delay something through earlier action.

Reluctance or delay in acting because of doubt or uncertainty.

A model of time preference in which the value assigned to a delayed outcome falls sharply at short delays and more gradually at longer delays.

To delay a decision or action in order to gain time.