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2024-03-24 10:38:46

₿ainter on Nostr: Can we improve the concept of “Time Preference”? I heard about this concept in ...

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?
Author Public Key
npub12knl9zw2m8wfrdxqehgfyv2xhqh79l3x0p5kyd3ay27yh9msp8hqt7mn8l