Hyperbolic discounting

Discounting is the tendency for people to have a stronger preference for more immediate payoffs relative to later payoffs. Hyperbolic discounting leads to choices that are inconsistent over time – people make choices today that their future selves would prefer not to have made, despite using the same reasoning.

Hyperbolic-discounting

Recognize that your users want results and/or discounts This allows you to raise your price and give users the product right away, as long as you allow them to pay later. Check out my Kissmetrics discussion for more application of this powerful bias.




6.4
Implementation: 3 hours
Effectiveness: 3/5
Difficulty: 3/10
TAGS
#Conversion