Hyperbolic discounting is present in almost every step of our lives. Essentially, it is choosing a smaller but instant reward rather than being patient and waiting for a much larger reward in the future. A good example of hyperbolic discounting is the choices we make around our diet. Foods that contain high levels of sugar, salt and saturated fat deliver satisfaction immediately. However, cutting out these 'treats' is highly likely to provide better health in our old age. Similarly, we often hyperbolic discount when it comes to physical activity. Doing around 150 minutes of regular, rhythmic exercise is a good way of reducing our chances of suffering from non-communicable diseases. However, many within society often forego that exercise for the more immediate pleasure of sitting down and watching television.
Are you hyperbolic discounting?
It is easy to focus on the short-term rewards over the longer-term goals. For young people like footballers who are craving a professional contract, this is understandable. But that means that as parents, guardians and family members supporting those players, we need to focus on the longer term.
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Do you look both ways when crossing the road?
I help young players and their families to "look both ways as they cross the road". I want young players to go through their football journey knowing the full story, taking a more evidence-based approach to their career planning.
Why do players want to be professionals?
When becoming a professional player hangs in the balance or someone has decided to release a player and becoming a professional seems further away than it did before, I have found it useful to explore with a player why they want to be a professional.