Editing Intertemporal Choice (section)

== <span style="color: #FFFFFF;">Remembering</span> ==
* '''Intertemporal Choice''' — The study of how people make choices about what and how much to do at various points in time.
* '''Present Bias''' (Hyperbolic Discounting) — The tendency to "Over-value" immediate rewards and "Under-value" future rewards (e.g., $100 today feels much better than $110 in a year).
* '''Exponential Discounting''' — The "Rational" way to value the future (e.g., valuing money less by a "Constant percentage" every year).
* '''Time Inconsistency''' — When you "Make a plan" for the future but "Change your mind" when the time arrives (e.g., "I'll start my diet tomorrow").
* '''Precommitment''' (Ulysses Contract) — A technique where you "Tie your hands" today to "Force" your Future Self to behave (e.g., "Deleting your social media" to focus on work).
* '''The Marshmallow Test''' — The famous experiment where children were offered "1 marshmallow now or 2 marshmallows later" to measure their "Delayed Gratification" ability.
* '''Self-Control''' — The "Mental Muscle" used to resist the Present Bias.
* '''Projection Bias''' — The tendency to think your "Future Self" will have the same "Desires" as your "Present Self" (e.g., "I'm not hungry now, so I won't buy food for dinner").
* '''Intertemporal Budget Constraint''' — The economic limit of what you can spend over your "Whole Life" (Current wealth + Future earnings).
* '''Sophisticated vs. Naive''' consumers:
** '''Naive''': Thinks they will "Have more self-control tomorrow."
** '''Sophisticated''': Knows they will "Be tempted tomorrow" and takes steps to "Prevent it" today.
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