Comments on: Time Discounting http://www.productivity501.com/time-discounting/87/ Pieces of the productivity puzzle. Fri, 20 Nov 2009 20:02:23 -0600 http://wordpress.org/?v=2.8.5 hourly 1 By: Mark Shead http://www.productivity501.com/time-discounting/87/comment-page-1/#comment-131362 Mark Shead Thu, 12 Nov 2009 14:06:55 +0000 http://x.xeric.net/productivity501/?p=87#comment-131362 It can also be very useful to remember if you are trying to sell someone else something. It can also be very useful to remember if you are trying to sell someone else something.

]]> By: Calcatraz http://www.productivity501.com/time-discounting/87/comment-page-1/#comment-131348 Calcatraz Thu, 12 Nov 2009 06:57:44 +0000 http://x.xeric.net/productivity501/?p=87#comment-131348 I've known about this phenomenon for a while now, but didn't have any practical use for it other than to "keep it in mind" in my decisions. So I always try to make the best choice for my whole life rather than just for today. I like the idea of being more explicit and actually assigning values to tasks based on it. Will definitely give that a go. I’ve known about this phenomenon for a while now, but didn’t have any practical use for it other than to “keep it in mind” in my decisions. So I always try to make the best choice for my whole life rather than just for today. I like the idea of being more explicit and actually assigning values to tasks based on it. Will definitely give that a go.

]]> By: Lalit http://www.productivity501.com/time-discounting/87/comment-page-1/#comment-131343 Lalit Thu, 12 Nov 2009 04:52:10 +0000 http://x.xeric.net/productivity501/?p=87#comment-131343 This relates quite well to the covey's 4 quadrants, particularly the IInd which is where we "need" to be spending our maximum time at in order for us to further ourselves, create better value. This relates quite well to the covey’s 4 quadrants, particularly the IInd which is where we “need” to be spending our maximum time at in order for us to further ourselves, create better value.

]]> By: Nicolas http://www.productivity501.com/time-discounting/87/comment-page-1/#comment-98469 Nicolas Mon, 03 Nov 2008 02:37:42 +0000 http://x.xeric.net/productivity501/?p=87#comment-98469 You describe a very important fact here. This might be one of the key hurdles why many people have difficulties in achieving their long distance goals. I good way to cope with this is to break down your goals into sub-targets which are not so distant but important to achieve the goals. According to the theory we should be more energetic working on the closer sub-targets. I have been writing on time management and collecting tips on how to save time here and there every day. One essential chapter is on goal setting, so that keep pursuing them. http://memytime.wordpress.com/ Please come and have a look sharing your thoughts and ideas. You describe a very important fact here. This might be one of the key hurdles why many people have difficulties in achieving their long distance goals.

I good way to cope with this is to break down your goals into sub-targets which are not so distant but important to achieve the goals. According to the theory we should be more energetic working on the closer sub-targets.

I have been writing on time management and collecting tips on how to save time here and there every day. One essential chapter is on goal setting, so that keep pursuing them.

http://memytime.wordpress.com/

Please come and have a look sharing your thoughts and ideas.

]]> By: Mark Shead http://www.productivity501.com/time-discounting/87/comment-page-1/#comment-98453 Mark Shead Sun, 02 Nov 2008 23:57:52 +0000 http://x.xeric.net/productivity501/?p=87#comment-98453 @Leah Nass - We are talking about a pretty steep discount that goes well beyond inflation and potential earnings. If someone is willing to take $90 now instead of $100 in 12 months, it might still be rational based on inflation, earning potential, etc. @Leah Nass – We are talking about a pretty steep discount that goes well beyond inflation and potential earnings. If someone is willing to take $90 now instead of $100 in 12 months, it might still be rational based on inflation, earning potential, etc.

]]> By: Corey Freeman http://www.productivity501.com/time-discounting/87/comment-page-1/#comment-98456 Corey Freeman Sun, 02 Nov 2008 23:55:26 +0000 http://x.xeric.net/productivity501/?p=87#comment-98456 I never really thought about how things in the future are perceived in this manner. Interesting post. I'll definitely have to remember it with all of the long-term things I'm working on right now. I never really thought about how things in the future are perceived in this manner. Interesting post. I’ll definitely have to remember it with all of the long-term things I’m working on right now.

]]> By: Julie B http://www.productivity501.com/time-discounting/87/comment-page-1/#comment-98444 Julie B Sun, 02 Nov 2008 21:49:09 +0000 http://x.xeric.net/productivity501/?p=87#comment-98444 I wonder if the preference for getting paid a little now instead of more later has something to do with the socio-economic status of the people being polled. In Ruby Payne's book on poverty, she talks about the the different value systems of the people in generational poverty vs. the middle class and the wealthy. People in generational poverty live for the moment. They don't trust the future. They would rather have a sure thing than something that might happen in the future, even if it is a better deal. Even if the people polled are not in generational poverty, I wonder how many of them don't believe that the future payment will happen? Companies go under. Banks close. As the saying goes, a bird in the hand is worth 2 in the bush. I wonder if the preference for getting paid a little now instead of more later has something to do with the socio-economic status of the people being polled. In Ruby Payne’s book on poverty, she talks about the the different value systems of the people in generational poverty vs. the middle class and the wealthy. People in generational poverty live for the moment. They don’t trust the future. They would rather have a sure thing than something that might happen in the future, even if it is a better deal. Even if the people polled are not in generational poverty, I wonder how many of them don’t believe that the future payment will happen? Companies go under. Banks close. As the saying goes, a bird in the hand is worth 2 in the bush.

]]> By: Leah Nass http://www.productivity501.com/time-discounting/87/comment-page-1/#comment-98443 Leah Nass Sun, 02 Nov 2008 21:41:13 +0000 http://x.xeric.net/productivity501/?p=87#comment-98443 Actually, it's not a "percieved" value, it's an actual value. A dollar today is worth more than a dollar down the line because of your ability to earn money from your money. Plus, taking account inflation, a dollar today is worth more than a dollar 10 years from now when adjusted for inflation. It's one of the first things they teach you in finance classes. Actually, it’s not a “percieved” value, it’s an actual value. A dollar today is worth more than a dollar down the line because of your ability to earn money from your money. Plus, taking account inflation, a dollar today is worth more than a dollar 10 years from now when adjusted for inflation. It’s one of the first things they teach you in finance classes.

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