Biases › Time

Time

Present bias

Now beats later, even when later is worth more.

Costs and rewards now weigh more than the same ones later.

Laibson (1997), Golden eggs and hyperbolic discounting.

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What is Present bias?

Present bias is a behavioural bias (time family): costs and rewards now weigh more than the same ones later. People discount the future steeply in the short run, so '$1 now' or '£0 today' feels much more important than the later full price. Nudgeswipe rates the evidence as strong. Source: Laibson (1997), Golden eggs and hyperbolic discounting.

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The research

People discount the future steeply in the short run, so '$1 now' or '£0 today' feels much more important than the later full price.

● Strong evidence

Also covers: Hyperbolic discounting (Thaler (1981), Some empirical evidence on dynamic inconsistency. doi.org/10.1016/0165-1765(81)90067-7)

Source: doi.org/10.1162/003355397555253

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Key takeaways

  1. Honest nudge

    Lower the cost of starting, and show the later price just as clearly.

  2. Dark-pattern line

    Burying the post-intro price.

Use it

Apply this with your agent

The prompt carries this bias, its evidence rating and the honest-vs-dark line.

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Frequently asked questions

What is Present bias?

Present bias is a behavioural bias: costs and rewards now weigh more than the same ones later.

How does Present bias work?

People discount the future steeply in the short run, so '$1 now' or '£0 today' feels much more important than the later full price.

How strong is the evidence for Present bias?

Nudgeswipe rates it strong evidence. Original source: Laibson (1997), Golden eggs and hyperbolic discounting.

How can you use Present bias honestly?

Lower the cost of starting, and show the later price just as clearly.

When does Present bias become a dark pattern?

Burying the post-intro price.

Which brands use Present bias?

Nudgeswipe has 1 teardown of brands using it, including Shopify. Whether it lifted their results is not public unless a teardown cites it.

In the wild

1 real example

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