Discounted Utility
A concept in behavioral economics that describes how future benefits are perceived as less valuable than immediate ones.
45 topics found for
“time preference”
Present Bias
A cognitive bias where individuals give stronger weight to payoffs that are closer to the present time compared to those in the future.
Hyperbolic Discounting
A cognitive bias where people disproportionately prefer smaller, immediate rewards over larger, later rewards.
Projection Bias
The tendency to overestimate how much our future preferences and behaviors will align with our current preferences and behaviors.
Longitudinal Study
A research method that involves repeated observations of the same variables over a period of time.
VOC
Voice of the Customer (VOC) is a process for capturing customers' expectations, preferences, and aversions.
Personalization
The process of tailoring a product or experience to meet the individual needs and preferences of users.
Decoy Effect
A cognitive bias where consumers change their preference between two options when presented with a third, less attractive option.
Jakob’s Law
A principle stating that users spend most of their time on other websites and prefer your site to work the same way as all the other sites they already know.