[4] In the field of behavioral economics, present bias is related to hyperbolic discounting, which differ in time consistency.
[8] In recent years, the concept of present bias has also found its way into research concerning law and criminal justice.
[9] McClure's dual-system model claims that these brain areas are impulsively triggered by immediate benefits and not so much by future rewards.
All these areas, which are also part of the rostral limbic system, build a network connected to the expectation and the gain of immediate gratification.
[9] The pregenual anterior cingulate cortex is a structure located close to the corpus callosum, which plays a role in positive emotions and responds to success reward when gambling.
[10] The thickness of these cortical areas as well as the volume of the left caudate nucleus is also linked to a better ability in delayed gratification and suppressing impulsivity.
[13] The findings of a study in which students had to set deadlines for completing certain tasks for themselves, suggested that an interaction of present-bias as well as personal characteristics, e.g. overconfidence, may appear to be "procrastination".
[14] However, internal self-control and sophistication regarding the tasks may reduce present bias, whereas it has the opposite effect for naïve people.
Furthermore, there appears to be a decrease in functional correspondence between the following brain areas: Between VMPC and DLPFC, dACC and caudate and in the right VLPFC.
[15] They posited that self-regulatory failure is associated with procrastination, although a body of replicated results would lend more credibility to this hypothesis.
[2] This impatience with the future benefits to occur minimizes the motivation for people to take unpleasant actions for their health, like maintaining a diet, refraining from a cigarette or regularly visiting a professional for check-ups.
[2] Present biased decision-making often underlies the notion that a certain health care behavior induces costs first, while benefits occur only quite some time later.
They tend to underestimate their own self-control and the effects of their present behavior on their future well-being and therefore postpone taking action before it is urgent.
People tend to forget that precaution with their own health can maximize their lifetime and minimize their life time medical spending.
[2] Overcoming the present bias could lead to earlier detection of illnesses, such as breast cancer, to start treatment in time.
According to Loewenstein, visceral factors have a direct hedonic impact and they influence how much one desires different rewards and actions.
Other factors such as age, gender, cultural background, education and self-control also play a role in making discounting decisions – but those can be dealt with more easily than with visceral states.
As this is only possible in an ideal economy, wealth inequality spurts from time-consistent individuals benefiting from the irrational monetary decisions present-biased economic rivals make.
[17] Present-biased people fail to complete a consumption saving plan are more likely consistently re-optimize factors influencing their wealth accumulation.
[17] Present bias plays a role in tourism concerning travel costs and impulsivity of tourist's decision-making.
Although reference prices frame expenses, present bias which is influenced by the prospect theory, that grades the value of gains, and the attachment effect, tourists tend to overspend.