Present bias is when a person shows a preference for reward or return now, rather than waiting for it to occur later.
Synonyms: immediate gratification, immediacy effect, present focus bias
Features:
(1) preference for an immediate reward
(2) disregard for long-term costs or benefits, even when more favorable
If there is a significant chance that the reward will be lost in the future, then taking it now is reasonable.
Associated attitudes may include:
(1) impulsivity
(2) procrastination
