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Thursday, December 11, 2003

New Scientist: "Pretty women scramble men's ability to assess the future

00:01 10 December 03

NewScientist.com news service

Psychologists in Canada have finally proved what women have long suspected - men really are irrational enough to risk entire kingdoms to catch sight of a beautiful face.
Biologists have long known that animals prefer immediate rewards to greater ones in the future. This process, known as 'discounting the future', is found in humans too and is fundamental to many economic models.
Resources have a value to individuals that changes through time. For example, immediately available cash is generally worth more than the same amount would be in the future. But greater amounts of money in the future would be worth waiting for under so-called 'rational' discounting.
But some people, such as drug addicts, show 'irrational' discounting. For example, preferring a small amount of heroin today rather than a greater amount in the future."
-- posted by Jason at 11:18 AM