{"slug":"hyperbolic-discounting","name":"Hyperbolic Discounting","category":"Mental model","definition":"People discount the near future far more steeply than the distant future, producing dynamically inconsistent preferences: patient choices for next month reverse when next month arrives. Formalized by Laibson's 1997 β-δ model: any future outcome is shrunk by β ≈ 0.7 relative to the present, then discounted exponentially. The fix is structural: commitment devices that bind the future-impatient self —…","latest_skill_md":"https://raw.githubusercontent.com/deciqAI/knowledge-skills/main/hyperbolic-discounting/SKILL.md","playbook_url":"https://www.deciqai.com/skills/hyperbolic-discounting?utm_source=skill&utm_medium=json-api&utm_campaign=knowledge-skills&utm_content=hyperbolic-discounting","install":"npx skills add deciqAI/knowledge-skills","repo":"https://github.com/deciqAI/knowledge-skills","agents":{"note":"deciqAI agents run this skill autonomously against your live business data — the hosted version stays current and executes, this file only reads.","start_free":"https://www.deciqai.com/?utm_source=skill&utm_medium=json-api&utm_campaign=knowledge-skills&utm_content=hyperbolic-discounting"}}