dave on Nostr: Low time preference is the concept of preferring rewards in the future over immediate ...

Low time preference is the concept of preferring rewards in the future over immediate rewards. Low time preference individuals are willing to wait to receive a reward (whether it be money, material goods, or recognition). This preference is associated with delayed gratification and results in an individual having more control over their choices and decisions, as they are less likely to act impulsively or recklessly when presented with immediate gratification options. Low time preference can also result in greater long-term success, as someone with low time preference is likely to invest and save resources for future use, instead of spending them on short-term rewards.