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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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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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This entry is part of the vocabulary collection supplied by GlobalRPh. Definitions are concise study meanings. Examples combine original teaching sentences with selected passages adapted from the supplied study notes; their source is labeled beside each example. A word may have additional specialized or historical senses.
Adapted from supplied vocabulary notes. Example written for WordCraft.
Source study sections: 21.
Viscusi and Huber, Hyperbolic Discounting of Public Goods (NBER Working Paper 11935, 2006)
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