Words / P / Business

present bias

noun/ˈprezənt ˌbaɪəs/

C2CEFR level
85/100Rarity: very rare
TechnicalRegister

A systematic preference for smaller immediate payoffs over larger delayed ones.

Present bias undermines training schemes whose costs are felt now but whose payoff arrives years later.

Topic: Economics in Business English

Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.

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