In humans this is often called impulsivity, the preference for smaller sooner outcomes. This is often seen in children and animals and in some adult human behavior.
An impulsive choice is not optimal. You can buy a cheaper pack of gum at Costco in a week or get one for three times the cost right now.
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I found this comment/question deeply intriguing.
I’m no expert at this and was wondering what you meant by the following:
Could you perhaps provide an example that would help me understand what you mean?
Thanks for the insightful comment either way.
In humans this is often called impulsivity, the preference for smaller sooner outcomes. This is often seen in children and animals and in some adult human behavior.
An impulsive choice is not optimal. You can buy a cheaper pack of gum at Costco in a week or get one for three times the cost right now.