18 responses to “The Perils of Low Time-Preference”

  1. Miko

    Firefox 3.5.3.NETCLR3.5.30729CreativeZENcastv1.03.13 Windows Vista

    Well yeah, but then the story is based on Rand’s recollection.

  2. John Q. Galt

    Chrome 3.0.195.21 Windows XP

    Ah, conscious playing with time preference at such a young age. Myself, I would take the long way home because it made jumping in the pool that much better. Leviathan and other grifters call it the “long game.”

    1. Araglin

      MSIE 7.0 Windows XP

      Roderick,

      From the description given, Rand’s time preference was not simply ‘low’ (especially for her age) but even ‘negative’ in that she was giving up for a year that which she already loved best now without having to be induced to do so with the promise of any interest…

      1. John Q. Galt

        Chrome 3.0.195.21 Windows XP

        The interest was the future pleasure.

        1. JOR

          Firefox 3.5.3.NETCLR3.5.30729 Windows XP

          Yeah, exactly. The low time preference is not her having this idea that she’ll have this great pleasure in the future if she gives up her favorite toys for a while; the low time preference is her deciding that that future pleasure outweighs having her favorite toys around right now, and acting on it.

  3. Joe

    Chrome 3.0.195.21 Windows Vista

    I strongly believe that the joy of finding a $20 bill in your pocket that you didn’t know was there outweighs the sadness felt when you originally discovered it was lost. Net psychic profit from losing and finding things :)

    1. sadielou

      Firefox 2.0.0.14 MacIntosh

      Oh, no. You clearly don’t remember how badly you panic when you lose things.

      Bit of a psychic broken window fallacy, I think.

  4. Jesse Walker

    Firefox 3.0.1 MacIntosh

    That story is really sad.

    1. RWW

      Firefox 3.0.14 Ubuntu

      Yeah, it actually made me tear up to imagine the poor little girl.

  5. sadielou

    Firefox 2.0.0.14 MacIntosh

    I think I’d like that book.

    That first chapter made me remember what a “strange” child I’d been in very much the same way. Reading a biography of Simone Weil gave me the same shock of recognition. The solitariness, the idealized, abstract, somewhat pompous inner life, the search for other people “like me” — Rand & Weil & me were basically identical little girls when we were about seven. And it’s odd that one turned out a capitalist radical, one turned out a socialist radical, and I turned out an absolutely ordinary; I wonder what does that to people.

  6. Neil Parille

    MSIE 8.0 Windows Vista

    I wonder what bothered Alisa the most: the dishonesty or the giving to the orphanage?

    1. John Q. Galt

      Chrome 3.0.195.21 Windows XP

      Oh snap.