0 10 20 0 1 2 3 4 5 6 7 8 9 10 11 12 12Twoweek discount rate 0 10 20 30 of participants 0 1 2 3 4 5 6 7 8 9 10 10Weeks to cash check 0 10 20 30 of participants 0 2 4 6 8 ID: 361138
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0% 10% 20% 30%% of participants 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% �12%Two-week discount rate 0% 10% 20% 30%% of participants 0 1 2 3 4 5 6 7 8 9 10 �10Weeks to cash check 0% 10% 20% 30%% of participants 0 2 4 6 8 10 12 14 16 18 20 22 24 26 28Days before the last deadline of the online game 0% 10% 20% 30%% of participants 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 180Days before the last deadline to apply to the MBA program 0 1 2 3 4 5 6 7 8 9 10 �10Weeks to cash check 0 100 200 300Check size 0 1 2 3 4 5 6 7 8 9 10 �10Weeks to cash check 1 2 3 4 5 6Log of check size r = 1 0.00 0.20 0.40 0.60 0.80 1.00Probability of choosing the check today 1 2 3 4 5 6Log of money at stake