Bewitching! A nudge for wiser choices

For choices whose consequences occur at different time points, short-term gain often overrules long-term benefits such as eating cake now versus future weight loss. BEWITCHING has looked into how we may improve choices on an individual basis and for society.

Intertemporal choice crops up everywhere in life and can have extremely important consequences. It’s not just about situations like avoiding piling on the pounds and having to buy a whole new wardrobe. Politicians for example are faced with choices where they have to weigh up short-term electoral success against a recovering economy – if only they had imposed those unpopular austerity measures. Scientists have to draw up regulations on genetic engineering, considering immediate benefits for medicine and food production as well as possible long-term harm to the environment and danger from unforeseen genetic consequences.

Further details: Bewitching! A nudge for wiser choices