Asked by Alexis Rampey on Jun 08, 2024
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Time inconsistency refers to the phenomenon where your present self misjudges what your future self will do.
Time Inconsistency
The tendency for people to change their plans about future actions due to a lack of alignment between their short-term desires and long-term goals.
Present Self
The concept of one's current identity or self-perception at the present moment.
Future Self
The concept of envisioning oneself in the future, often used in psychology and financial planning to motivate current actions that benefit one's future.
- Comprehend the concept of time inconsistency and its implications on decision-making.
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Learning Objectives
- Comprehend the concept of time inconsistency and its implications on decision-making.
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