arundelo comments on Open Thread, November 1 − 7, 2013

[arundelo]

Wikipedia:

In economics, time preference (or “discounting”) is the relative valuation placed on a good at an earlier date compared with its valuation at a later date

[...] Someone with a high time preference is focused substantially on his well-being in the present and the immediate future relative to the average person, while someone with low time preference places more emphasis than average on their well-being in the further future.