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QUESTION
You observe this following behavior: a person chooses to receive $110 in 366 days rather than $366 days, but chooses $100 today over $110 tomorrow.
You observe this following behavior:
a person chooses to receive $110 in 366 days rather than $366 days, but chooses $100 today over $110 tomorrow.
what is the bias called? Describe the nature of the bias.
