why you want it now, not later

2010/12/21

People assess future benefits in two ways simultaneously, as if they had two brains, says Harvard economist David I. Laibson. The "impatient" brain, which dominates when we think about immediate gratification, discounts at about 4% per minute, but the "patient" brain, which takes over when we consider much-later benefits, discounts at a slower rate — about 1% per minute. So while an offer of a free massage right now might look a lot better than a free massage in an hour, we’d see little difference in offers of massages at, say, 2pm or 3pm one week from now.

Source: Economics professor describes a brain in conflict with itself

Advertisements

One Response to “why you want it now, not later”

  1. The Angkor Says:

    Why you need put any link to exchange with our bloggers…? so easy for us to come back to visit your home blog again! 🙂

    Contact me http://www.facebook.com/khmerblog

    Dina.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: