Present bias is the inclination to prefer a smaller present reward to a larger later reward, but reversing this preference when both rewards are equally delayed. Such behavior violates stationarity of temporal choices, and hence exponential discounting. This paper provides a weakening of the stationarity axiom that can accommodate present-biased choice reversals. We call this new behavioral postulate Weak Present Bias and characterize the general class of utility functions that is consistent with it. We show that present-biased preferences can be represented as those of a decision maker who makes her choices according to conservative present-equivalents, in the face of uncertainty about future tastes.

中文翻译：

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现在偏见

现在的偏见是更喜欢较小的当前奖励而不是更大的后期奖励的倾向，但是当两种奖励同样延迟时，这种偏好就会逆转。这种行为违反了时间选择的平稳性，因此违反了指数折扣。本文弱化了平稳性公理，可以适应当前偏向的选择逆转。我们称这种新的行为假设为弱当前偏差，并描述了与其一致的效用函数的一般类别。我们表明，现在偏向的偏好可以表示为决策者在面对未来品味的不确定性时根据保守的当前等价物做出选择的偏好。