>[!abstract] >In behavioral economics, **time preference** (alternatively, **temporal discounting**) is the current relative valuation placed on receiving a good at an earlier date compared with receiving it at a later date. > >Time preferences are captured mathematically in the discount function. The main models of discounting include exponential, [[Hyperbolic discounting|hyperbolic]], and quasi hyperbolic. The higher the time preference, the higher the discount placed on returns receivable or costs payable in the future (Wikipedia, 2025). >[!related] >- **North** (upstream): — >- **West** (similar): [[Hyperbolic discounting]] >- **East** (different): — >- **South** (downstream): — ![[related.base|no-toolbar]]