Hyperbolic Discounting: The science behind outsmarting yourself
Psychology and behavioral science hold the keys to creating healthy habits
Have you ever made a plan to go to the gym first thing in the morning? You had the best intentions the night before, but when the alarm clock went off at 5 am, you found a flimsy excuse to avoid your workout?
It’s not just an early morning gym habit that people have a hard time following through on. It might be saving for retirement or avoiding sugar.
Why is it so hard to do things that we know are good for us in the long run but are uncomfortable in the moment? It’s down to a behavioral science principle known as hyperbolic discounting.
What is hyperbolic discounting?
Hyperbolic discounting is a mental model — a way of thinking. This principle describes how humans are hardwired to value immediate rewards — like sleeping in — over long-term rewards, like being fit. That means people have to outwit their own brains to perform temporarily painful tasks that create long term gains.
Hyperbolic discounting means we are hardwired to value immediate rewards like sleeping in, over long-term rewards like…
