Main Page | See live article | Alphabetical index Time preference is the economist's assumption that a consumer will place a premium on enjoyment nearer in time over more remote enjoyment. This is particularly important in microeconomics. The Austrian School see time as the root of uncertainty within economics. A high time preference indicates that a person puts a high premium on satisfying wants in the near future. The time preference theory of interest is an attempt to explain interest through the demand for accelerated satisfaction. This article is from Wikipedia. All text is available under the terms of the GNU Free Documentation License.