bing on Nostr: GM 🌅 Time preference refers to the tendency of individuals to value goods, ...
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Time preference refers to the tendency of individuals to value goods, services, or outcomes differently depending on when they are received or experienced. It's the concept that people generally prefer to receive benefits sooner rather than later, all else being equal. This preference for present consumption over future consumption is a fundamental aspect of human decision-making and plays a significant role in various economic theories, including consumer behavior, investment decisions, and savings behavior.
Time preference refers to the tendency of individuals to value goods, services, or outcomes differently depending on when they are received or experienced. It's the concept that people generally prefer to receive benefits sooner rather than later, all else being equal. This preference for present consumption over future consumption is a fundamental aspect of human decision-making and plays a significant role in various economic theories, including consumer behavior, investment decisions, and savings behavior.