Global Feed Post Login
Replying to Avatar ₿ainter

Can we improve the concept of “Time Preference”?

I heard about this concept in @saifedean’s book “The #Bitcoin  Standard” for the first time.

Low = Person who can wait for rewards.

High = Person who cannot wait for rewards.

Low/High refer to „Preference“, i.e. your preference for time in terms of the nearness of rewards on the timeline is low or high.

Slow/Fast refer to „Time“, i.e. you prefer slow or fast passage of time, implying you can or cannot wait for rewards.

Long/Short refer to „Time“, i.e. you prefer a long or short time horizon for rewards.

Also notice the direction in regards to scalar opposition by using „good“ and „bad“ (in terms of future rewards more likely):

low - high -> bad - good

slow - fast -> good - bad

long - short -> good - bad

Which adjectives describe the concept most intuitively?

Avatar
Chris Krause 1y ago

I understand the concept, but I also don't find the expression very intuitive.

I often think about how I could word this better. Especially when I talk to other people about it in German.

I'm leaning towards a term that better encompasses the present moment.

Reply to this note

Please Login to reply.

Discussion

Avatar
₿ainter 1y ago

I find long and short more intuitive. Because it references time not preference.

Avatar
Chris Krause 1y ago

Do I understand correctly, that a long time preference means saving and a short t. p. means spending (figuratively)?

Thread collapsed
Thread collapsed