Hyperbolic discounting  

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Train wreck at Montparnasse (October 22, 1895) by Studio Lévy and Sons.
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Train wreck at Montparnasse (October 22, 1895) by Studio Lévy and Sons.

In economics, hyperbolic discounting is a time-inconsistent model of discounting.

The discounted utility approach: Intertemporal choices are no different from other choices, except that some consequences are delayed and hence must be anticipated and discounted (i.e. reweighted to take into account the delay).

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Unless indicated otherwise, the text in this article is either based on Wikipedia article "Hyperbolic discounting" or another language Wikipedia page thereof used under the terms of the GNU Free Documentation License; or on original research by Jahsonic and friends. See Art and Popular Culture's copyright notice.

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