Time Preference

Social Time Preference
The value that society places on present consumption relative to future consumption.
Discounting the Future
Placing a lower value on future receipts than on the present receipt of an equal sum
Hyperbolic Discounting
An assumption on the rate of time preference reflecting a bias towards present rewards, showing a declining discount rate as the time horizon increases.
Preferences
A detailed exploration of preferences in the context of economics, including different schools of thought and related terms.
Time Preference
The preference for immediate consumption over future consumption in economic decision-making.