person on deathbed: I should have lived more in the present moment my whole life... you: Ok but high time preference is only a good strategy if your future is very short or very bleak
I think maybe you're compressing a continuous range of discount rates into two categories, and placing the cut-off precisely where "short" = "maladaptive", but low time preference can be maladaptive too. Like anyone who lets strawberries mold in the fridge is not consuming enough
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maybe we're using words differently? time preference = discount time horizon = n steps to look ahead (or λ in TD(λ)) if you're only looking ahead 10 steps (and it's feasible to look ahead more) when you know you're def gonna live > 1000 steps, your time horizon is too low
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also like.. maybe it's confusing because 'low time preference' doesn't mean 'time preference is too low' (0.3 is a low time preference but it can still be too high)
End of conversation
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Or, um, a person who can be too patient if they keep waiting for a better idea before tweeting, and then they rarely post and they don't really participate in the culture and they lose out because of that. No?
Thanks. Twitter will use this to make your timeline better. UndoUndo
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