THE WORDCRAFT DEFINITION DICTIONARY
hyperbolic discounting
noun phrase
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.
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Examples in context
The exercise uses hyperbolic discounting to explore why a preference may change as a reward draws nearer.
A separate hyperbolic discounting model showed a sharper fall over short delays and a more gradual fall over longer ones.
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What a Later Reward Is WorthReading 1 / Open lessonAPPLY IT AND RETURN
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Source study sections: 21.
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