https://blog.aabouzied.com/blog/time/Recent content in Time on The Smoking Duck BlogHugoen-USCopyright © 2021, Ahmed Abouzied.Sat, 23 Jan 2021 16:13:21 +0200https://blog.aabouzied.com/time-preference/Sat, 23 Jan 2021 12:17:40 +0200https://blog.aabouzied.com/time-preference/<h2 id="overview">Overview</h2> <p>Time preference is an economic term that describes an individual&rsquo;s affinity to wait on gratification that would be received in the present time in order to receive more gratification in the future. Given the limited amount of time a human has and the fact that a human&rsquo;s life is very fragile, delaying instant gratification is often a hard decision to make. However, if humans always go for instant gratification, very little progress can be achieved. In this blog post, I&rsquo;ll be discussing the impact of time preference on the life of individuals and why we should always restrain our instincts to go for the easy guaranteed instant gratification.</p>