"Eat, drink and be merry, for tomorrow we may die." It's an appealing philosophy to some, but for an average person in the modern world, on any given day t
We learned about present bias (a.k.a. hyperbolic discounting) in a video we watched in class. It was every interesting how people would take a smaller amount of money one day after one year other than waiting another day for a larger amount (an extra 2 bucks). It’s not quite the term I’m not familiar with but the reason behind why this occurs. In the atrticle I read on damnintersting.com it decribes hyperbolic dicounting as a logical flaw that causes people to over commit to the future without actually doing something about it. We as human beings tend to prefer the now over later which eventually leads to a large disregard in the future. We take in consideration the effect of time and future consequences as effect to our mortality and short life span.
We push today’s consequences to the future without worrying how it will affect us later on. It’s human nature to prefer instant satisfaction. Hyperbolic discounting is a psychological habit that the majority of the human race posses due to our behavior and attitude towards the present and the future. We don’t like to commit to sacrifice in the present that's why we make the choices we make.