Hyperbolic discounting — Discounting is the tendency for people to have a stronger preference for more immediate payoffs relative to later payoffs. Hyperbolic discounting leads to choices that are inconsistent over time – people make choices today that their future selves would prefer not to have made, despite using the same reasoning. 

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114 Decision-making and behavioral biases

Often we are faced with situations where our intuition misguides us. Cognitive biases are systematic patterns of deviation from norm or rationality in judgment. Many of these biases affect belief formation, business and economic decisions, and human behavior in general.
Cognitive biases
Decision-making
behaviorlal bias
Beliefs
Psychology

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