Weekend reads 06 11 2010

  • This post on procrastination talks about present bias – "being unable to grasp what you want will change over time, and what you want now isn’t the same thing you will want later. Present bias explains why you buy lettuce and bananas only to throw them out later when you forget to eat them."  And hyperbolic discounting: "the tendency to get more rational when you are forced to wait." And "A being of pure logic would think, “more is more,” and pick the higher amount every time, but you aren’t a being of pure logic. Faced with two possible rewards, you are more likely to take the one which you can enjoy now over one you will enjoy later – even if the later reward is far greater." Go read it.

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