Temporal discounting is a psychological concept that explains how people tend to prefer smaller rewards now over larger rewards later. This means that when faced with a choice, individuals often choose immediate gratification, even if waiting would yield a better outcome. For example, someone might choose to receive $50 today instead of $100 in a month. This behavior is linked to decision-making and can impact various aspects of life, including finances, health, and relationships. Understanding temporal discounting can help individuals make better choices by recognizing the value of delayed gratification, which is often associated with improved long-term outcomes.