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Present Bias
Present bias is the tendency to rather settle for a smaller present reward than to wait for a larger future reward, in a trade-off situation. It describes the trend of overvaluing immediate rewards, while putting less worth in long-term consequences. The present bias can be used as a measure for self-control, which is a trait related to the prediction of secure life outcomes. In the field of behavioral economics, present bias is related to hyperbolic discounting, which differ in time consistency. History Even though the term of present bias was not introduced until the 1950s, the core idea of immediate gratification was already addressed in Ancient Greece. A historical record of a display of concern regarding procrastination is known from the Greek poet Hesiod, who wrote: "Do not put your work off till to-morrow and the day after; for a sluggish worker does not fill his barn, nor one who puts off his work: industry makes work go well, but a man who puts off work is always at han ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Self-control
Self-control, an aspect of inhibitory control, is the ability to regulate one's emotions, thoughts, and behavior in the face of temptations and impulses. As an executive function, it is a cognitive process that is necessary for regulating one's behavior in order to achieve specific goals. A related concept in psychology is emotional self-regulation. Self-control is thought to be like a muscle. According to studies, self-regulation, whether emotional or behavioral, was proven to be a limited resource which functions like energy. In the short term, overuse of self-control will lead to depletion. However, in the long term, the use of self-control can strengthen and improve over time. Self-control is also a key concept in the general theory of crime, a major theory in criminology. The theory was developed by Michael Gottfredson and Travis Hirschi in their book titled ''A General Theory of Crime'', published in 1990. Gottfredson and Hirschi define self-control as the differential ten ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Limbic System
The limbic system, also known as the paleomammalian cortex, is a set of brain structures located on both sides of the thalamus, immediately beneath the medial temporal lobe of the cerebrum primarily in the forebrain.Schacter, Daniel L. 2012. ''Psychology''.sec. 3.20 It supports a variety of functions including emotion, behavior, long-term memory, and olfaction. Emotional life is largely housed in the limbic system, and it critically aids the formation of memories. With a primordial structure, the limbic system is involved in lower order emotional processing of input from sensory systems and consists of the amygdaloid nuclear complex (amygdala), mammillary bodies, stria medullaris, central gray and dorsal and ventral nuclei of Gudden. This processed information is often relayed to a collection of structures from the telencephalon, diencephalon, and mesencephalon, including the prefrontal cortex, cingulate gyrus, limbic thalamus, hippocampus including the parahippocampal gyrus an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dorsolateral Prefrontal Cortex
The dorsolateral prefrontal cortex (DLPFC or DL-PFC) is an area in the prefrontal cortex of the primate brain. It is one of the most recently derived parts of the human brain. It undergoes a prolonged period of maturation which lasts until adulthood. The DLPFC is not an anatomical structure, but rather a functional one. It lies in the middle frontal gyrus of humans (i.e., lateral part of Brodmann's area (BA) 9 and 46). In macaque monkeys, it is around the principal sulcus (i.e., in Brodmann's area 46). Other sources consider that DLPFC is attributed anatomically to BA 9 and 46 and BA 8, 9 and 10. The DLPFC has connections with the orbitofrontal cortex, as well as the thalamus, parts of the basal ganglia (specifically, the dorsal caudate nucleus), the hippocampus, and primary and secondary association areas of neocortex (including posterior temporal, parietal, and occipital areas). The DLPFC is also the end point for the dorsal pathway (stream), which is concerned with how to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lateral Prefrontal Cortex
In human brain anatomy, the lateral prefrontal cortex (LPFC) is part of the prefrontal cortex (PFC). According to Striedter the PFC of humans can be delineated into two functionally, morphologically, and evolutionarily different regions: the ventromedial PFC (vmPFC) present in all mammals and the LPFC present only in primates. The LPFC contains the Brodmann areas BA8, BA9, BA10, BA45, BA46, and BA47. Some researchers also include BA44. The LPFC is often further divided into dorsolateral prefrontal cortex ( BA8, BA9, BA10, BA46) and ventrolateral prefrontal cortex ( BA45, BA47, BA44). Function The vmPFC is primarily concerned with inhibition of urges, motivation, identification of rewarding or otherwise significant stimuli, as well as mood and empathy. The LPFC is primarily involved in working memory, reasoning, planning, and active forms of imagination: Prefrontal Synthesis, mental rotation, and integration of modifiers In linguistics, a modifier is an optional ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Election
An election is a formal group decision-making process by which a population chooses an individual or multiple individuals to hold public office. Elections have been the usual mechanism by which modern representative democracy has operated since the 17th century. Elections may fill offices in the legislature, sometimes in the executive and judiciary, and for regional and local government. This process is also used in many other private and business organisations, from clubs to voluntary associations and corporations. The global use of elections as a tool for selecting representatives in modern representative democracies is in contrast with the practice in the democratic archetype, ancient Athens, where the elections were considered an oligarchic institution and most political offices were filled using sortition, also known as allotment, by which officeholders were chosen by lot. Electoral reform describes the process of introducing fair electoral systems wher ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Politics
Politics (from , ) is the set of activities that are associated with making decisions in groups, or other forms of power relations among individuals, such as the distribution of resources or status. The branch of social science that studies politics and government is referred to as political science. It may be used positively in the context of a "political solution" which is compromising and nonviolent, or descriptively as "the art or science of government", but also often carries a negative connotation.. The concept has been defined in various ways, and different approaches have fundamentally differing views on whether it should be used extensively or limitedly, empirically or normatively, and on whether conflict or co-operation is more essential to it. A variety of methods are deployed in politics, which include promoting one's own political views among people, negotiation with other political subjects, making laws, and exercising internal and external force, including wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Delayed Gratification
Delayed gratification, or deferred gratification, is the resistance to the temptation of an immediate pleasure in the hope of obtaining a valuable and long-lasting reward in the long-term. In other words, delayed gratification describes the process that the subject undergoes when the subject resists the temptation of an immediate reward in preference for a later reward. Generally, delayed gratification is associated with resisting a smaller but more immediate reward in order to receive a larger or more enduring reward later. A growing body of literature has linked the ability to delay gratification to a host of other positive outcomes, including academic success, physical health, psychological health, and social competence. A person's ability to delay gratification relates to other similar skills such as patience, impulse control, self-control and willpower, all of which are involved in self-regulation. Broadly, self-regulation encompasses a person's capacity to adapt the self ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Walter Mischel
Walter Mischel (; February 22, 1930 – September 12, 2018) was an Austrian-born American psychologist specializing in personality theory and social psychology. He was the Robert Johnston Niven Professor of Humane Letters in the Department of Psychology at Columbia University. A ''Review of General Psychology'' survey, published in 2002, ranked Mischel as the 25th most cited psychologist of the 20th century. Early life Mischel was born on February 22, 1930 in Vienna, Austria, to Salomon Mischel and the former Lola Leah Schreck. He was the brother of Theodore Mischel, who became an American philosopher. When he was 8 years old his Jewish family fled with him to the United States after the Nazi occupation in 1938. He grew up in Brooklyn, New York City where he attended New York University and received his bachelor's degree (1951) and master's degree (1953). He continued his studies under George Kelly and Julian Rotter at Ohio State University, where he received his Ph.D. in c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stanford University
Stanford University, officially Leland Stanford Junior University, is a private research university in Stanford, California. The campus occupies , among the largest in the United States, and enrolls over 17,000 students. Stanford is considered among the most prestigious universities in the world. Stanford was founded in 1885 by Leland and Jane Stanford in memory of their only child, Leland Stanford Jr., who had died of typhoid fever at age 15 the previous year. Leland Stanford was a U.S. senator and former governor of California who made his fortune as a railroad tycoon. The school admitted its first students on October 1, 1891, as a coeducational and non-denominational institution. Stanford University struggled financially after the death of Leland Stanford in 1893 and again after much of the campus was damaged by the 1906 San Francisco earthquake. Following World War II, provost of Stanford Frederick Terman inspired and supported faculty and graduates' entrepreneu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stanford Marshmallow Experiment
The Stanford marshmallow experiment was a study on delayed gratification in 1972 led by psychologist Walter Mischel, a professor at Stanford University. In this study, a child was offered a choice between one small but immediate reward, or two small rewards if they waited for a period of time. During this time, the researcher left the room for about 15 minutes and then returned. The reward was either a marshmallow or pretzel stick, depending on the child's preference. In follow-up studies, the researchers found that children who were able to wait longer for the preferred rewards tended to have better life outcomes, as measured by SAT scores, educational attainment, body mass index (BMI), and other life measures. A replication attempt with a sample from a more diverse population, over 10 times larger than the original study, showed only half the effect of the original study. The replication suggested that economic background, rather than willpower, explained the other half. The p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Delayed Gratification
Delayed gratification, or deferred gratification, is the resistance to the temptation of an immediate pleasure in the hope of obtaining a valuable and long-lasting reward in the long-term. In other words, delayed gratification describes the process that the subject undergoes when the subject resists the temptation of an immediate reward in preference for a later reward. Generally, delayed gratification is associated with resisting a smaller but more immediate reward in order to receive a larger or more enduring reward later. A growing body of literature has linked the ability to delay gratification to a host of other positive outcomes, including academic success, physical health, psychological health, and social competence. A person's ability to delay gratification relates to other similar skills such as patience, impulse control, self-control and willpower, all of which are involved in self-regulation. Broadly, self-regulation encompasses a person's capacity to adapt the self ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gambling
Gambling (also known as betting or gaming) is the wagering of something of value ("the stakes") on a random event with the intent of winning something else of value, where instances of strategy are discounted. Gambling thus requires three elements to be present: consideration (an amount wagered), risk (chance), and a prize. The outcome of the wager is often immediate, such as a single roll of dice, a spin of a roulette wheel, or a horse crossing the finish line, but longer time frames are also common, allowing wagers on the outcome of a future sports contest or even an entire sports season. The term "gaming" in this context typically refers to instances in which the activity has been specifically permitted by law. The two words are not mutually exclusive; ''i.e.'', a "gaming" company offers (legal) "gambling" activities to the public and may be regulated by one of many gaming control boards, for example, the Nevada Gaming Control Board. However, this distinction is not u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
