Erik (sarastro) wrote,
Erik
sarastro

Present-Biased Preferences

Q: Do you spend too much and save too little?

Q: Do you often find that you not as well-prepared as you would like to be?

Q: Are you addicted to anything?

Q: Do you procrastinate?

Q: Do you have any credit card debt?

If you answered 'yes' to any of these questions, then you might have time-inconsistent preferences! In other words, you might make different decisions if you were to look at youself in a more abstract sense. Don't worry though, there's hope! A new generation of economists are working hard so that you can live life how you (really) want to!
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