Person
Liam Delaney
Behavioural economist, then at University of Stirling
Behavioural economist, at the University of Stirling at the time of the study, referenced (not interviewed) in Episode 138. His study offering participants £13 now or £16 in a month's time found 60% chose to pay the larger amount later — an implied monthly interest rate of roughly 23% (see Delaney Pay-Now vs Pay-Later Present-Bias Study). Cited by Richard Shotton as the basis for giving customers plenty of notice before a subscription price rise. See Hyperbolic Discounting.
Discussed in
- Episode 138 — 138-listen-to-exactly-17-minutes-and-42-seconds-of-this-episode