Sweat Equity
Tier 1
Over 70% of lottery winners elect the lump sum. Not suggesting that is an academic example, but we, as humans, are inherintely distracted by the availability bias which morphs into cognitive bias: You see a big number now vs. a larger number over a longer (sometimes much longer) period of time, the availability bias directs you to the big number now.What if X is still more than Y?