Present bias is the tendency to favor immediate rewards over larger future rewards, often leading to a lack of self-control. It illustrates how individuals prioritize short-term benefits while undervaluing the long-term consequences of their decisions. This behavioral tendency has implications in various fields, including economics and psychology.
An example of present bias is when a student decides to play video games instead of studying for an important exam, preferring the immediate enjoyment over the larger future reward of academic success.
To overcome present bias, set clear, achievable goals and create a timeline with deadlines to make future rewards feel more immediate. Additionally, practicing self-reflection on the consequences of immediate versus delayed gratification can also help.