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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The Complex Relationship Between Young Football Players and Education
Players are often expected to balance their intense training and match schedules with their educational requirements. Yet, for many, the experience of formal education is far from a positive one. Last week, a parent of a player asked me how I explained this. What a good topic for a blog!
"They are jealous but then they’re completely free aren’t they"
Love it or loathe it, the process of growing up and developing socially involves discovering our own spaces. It is something that has occurred in countless generations. But for young males who commit to professional football clubs, the process is different.
"You're taking the pi**, sort it out"
Perhaps the biggest lesson from this is that as a parent/guardian/family member, you need to understand this could be the culture of an academy, and watch for instances of it.