Delay discounting is a psychological concept that describes how people value rewards over time. When given a choice between a smaller reward available immediately and a larger reward available later, many individuals tend to prefer the immediate option. This tendency reflects how future rewards are perceived as less valuable than immediate ones. This behavior can impact decision-making in various areas, such as finance, health, and education. For example, someone might choose to spend money now rather than save for a larger purchase later, or opt for unhealthy snacks instead of waiting for a nutritious meal. Understanding delay discounting can help in developing strategies to improve long-term decision-making.