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The fact that people prefer present consumption to future consumption results in
Course Of Action
A plan or methodology intended to achieve a specific goal or resolve a problem.
Bounded Rationality Model
A concept suggesting that individuals make decisions based on the limited information available to them and their own mental processing limitations.
Decision Alternatives
The different options or courses of action available to decision-makers.
Potential Value
The future worth or usefulness that something holds, not currently realized but that could be achieved under certain conditions.
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