Hyperbolic Discounting
#wiki/psychology In economics, *hyperbolic discounting* is a time-_inconsistent_ model of delay discounting . It is one of the cornerstones of behavioral economicsvand its brain-basis is actively being studied by neuroeconomics researchers. The discounted utility approach states that intertemporal choices are no different from other choices, except that some consequences are delayed and hence must be anticipated and discounted (i.e., reweighted to take into account the delay).