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People often speak of the Dunning–Kruger effect with regards to differences in intelligence or expertise, but I think it should also be used to describe high time preference individuals being unable to interpret the actions of lower time preference individuals.
Aren't they related? The harder it is for somebody to predict or control their future, the rationally higher their time preference will be.
Yes, exactly. I wasn’t trying to be original, just pointing out an aspect of it less mentioned.
High time preference is just panic created by a proletarized society that cannot planify ahead of a month in timespan.
We shouldn’t rely on DK. The effect was much weaker than originally contended (as explained on Wikipedia), plus even that weak effect does not replicate. If anything it’s a good example of why psychology is not a real science. We do need a better term for time pref though.
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