People unconsciously value the availability of credit to their present selves more than they value the freedom from junky terms to their future selves.
Whether or not this is a specific problem worth solving in some paternalistic fashion, I do not know. I think the general problem of hyperbolic discounting is a big problem worth solving. Iif only I knew the solution...
Exactly so, IMO.
People unconsciously value the availability of credit to their present selves more than they value the freedom from junky terms to their future selves.
Whether or not this is a specific problem worth solving in some paternalistic fashion, I do not know. I think the general problem of hyperbolic discounting is a big problem worth solving. Iif only I knew the solution...
And it’s doubly bad: any political response would suffer from hyperbolic discounting too!
About the only things I can think of that don’t suffer so are things like prediction and stock markets.