"An industrial capitalist society that does not recognize ecological limits but only perpetual economic expansion and has the profit motive as driver, will eventually consume and destroy itself."
"But we will all be taken down with it."
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This theory represents the very cutting edge of motivational research. It suggests that the reasons why people make any decision can be largely represented by the following equation:I'm guessing the Scientific American writer glanced at this quickly and mistook the capital gamma for an I. But other than that, I think it hangs together if you consider Delay as the wait for the payout.
Utility indicates preference for a course of action. Naturally, the higher the utility, the greater the preference. On the top of the equation, the numerator, we have two variables: Expectancy (E) and Value (V). Expectancy refers to the odds or chance of an outcome occurring while Value refers to how rewarding that outcome is. Naturally, we would like to choose pursuits that give us a good chance of having a pleasing outcome. On the bottom of the equation, the denominator, we also have two variables. G refers to the subject's sensitivity to delay. The larger G is, the greater is the sensitivity. Finally, D represents Delay, which indicates how long, on average, one must wait to receive the payout. Since delay is in the denominator of the equation, the longer the delay, the less valued the course of action is perceived.
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