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Time inconsistency

42 bytes added, 15:01, 15 June 2009
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==Definition==
'''Time inconsistency''' , also called '''dynamic inconsistency''', is the phenomenon whereby a person's tastes and preference change over time, leading to a different evaluation of the costs and benefits of a certain decision. For instance, time inconsistency may refer to the difference between the value a person puts to ''anticipating'' something, the value the person puts to ''experiencing'' it, and the value the person places on ''having experienced'' it.
==Types of time inconsistency==
Bureaucrats, emailconfirmed, Administrators
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