How Hyperbolic Discounting Leads to Terrible Life Choices
▻https://hackernoon.com/how-hyperbolic-discounting-leads-to-terrible-life-choices-69cde3c4359?so
Nir’s Note: This guest post is written and illustrated by Lakshmi Mani, a product designer working in San Francisco.Have you ever had a mounting pile of work you know you need to do but for some reason didn’t? There’s an important deadline looming, your boss is breathing down your neck, the pressure is on — all signs are pointing to you getting it done. Yet you put it off, turn on Netflix, and fantasize about how you’re going to crush it tomorrow.Hyperbolic discounting is a cognitive bias, where people choose smaller, immediate rewards rather than larger, later rewards.Nir’s note: I’ve created a handy research-based workbook to help you to overcome hyperbolic discounting and stay productive. Download the free PDF “How to Keep Hyperbolic Discounting from Killing Your Productivity” (...)