Others
Classical Conditioning (Pavlov's Experiment)
Classical conditioning (also known as Pavlovian or respondent conditioning) refers to a learning procedure in which a biologically potent stimulus(e.g. food) is paired with a previously neutral stimulus (e.g. a bell). It also refers to the learning process that results from this pairing, through which the neutral stimulus comes to elicit a response (e.g. salivation) that is usually similar to the one elicited by the potent stimulus
- Forward conditioning
- Delay conditioning
- Trace conditioning
- Simultaneous conditioning
- Second-order and higher-order conditioning
- Backward conditioning
- Temporal conditioning
Pavlov's Experiment
Pavlov was conducting research on the digestion of dogs when he noticed that the dogs' physical reactions to food subtly changed over time. At first, the dogs would only salivate when the food was placed in front of them. However, later they salivated slightly before their food arrived.
https://en.wikipedia.org/wiki/Classical_conditioning
Operant Conditioning / Instrument Conditioning
Is a learning process through which the strength of a behavior is modified by reinforcement or punishment. It is also a procedure that is used to bring about such learning.
Although operant and classical conditioning both involve behaviors controlled by environmental stimuli, they differ in nature. In operant conditioning, stimuli present when a behavior is rewarded or punished come to control that behavior. For example, a child may learn to open a box to get the sweets inside, or learn to avoid touching a hot stove; in operant terms, the box and the stove are "discriminative stimuli". Operant behavior is said to be "voluntary": for example, the child may face a choice between opening the box and petting a puppy.

B.F. Skinner(1904--1990) is referred to as the father of operant conditioning, and his work is frequently cited in connection with this topic. To implement his empirical approach, Skinner invented the operant conditioning chamber, or "Skinner Box", in which subjects such as pigeons and rats were isolated and could be exposed to carefully controlled stimuli.
https://en.wikipedia.org/wiki/Operant_conditioning
Hyperbolic discounting
People prefer smaller, immediate rewards to larger, later ones.
This occurs more when the delay is closer to the present than the future.
Scenario 1: 5000 immediate payment or 10000 payment after 1 year (a lot of people choose 1st option)
Scenario 2: 5000 payment after 4 year orr 10000 payment after 5 year (a lot of people choose 2nd option)
Time gap is same for both the scenarios
The idea here is that when we need to choose between rewards right now and rewards in the far future, we're much less patient than we ought to be.
In economics, hyperbolic discounting is a time-inconsistent model of delay discounting. It is one of the cornerstones of behavioral economics.
The discounted utility approach states that intertemporal choices are no different from other choices, except that some consequences are delayed and hence must be anticipated and discounted (i.e., re-weighted to take into account the delay).
Given two similar rewards, humans show a preference for one that arrives sooner rather than later. Humans are said to discount the value of the later reward, by a factor that increases with the length of the delay. This process is traditionally modeled in the form of exponential discounting, a time-consistent model of discounting. A large number of studies have since demonstrated deviations from the constant discount rate assumed in exponential discounting. Hyperbolic discounting is an alternative mathematical model that accounts for these deviations.
According to hyperbolic discounting, valuations fall relatively rapidly for earlier delay periods (as in, from now to one week), but then fall more slowly for longer delay periods (for instance, more than a few days). For example, in an early study subjects said they would be indifferent between receiving $15 immediately or $30 after 3 months, $60 after 1 year, or $100 after 3 years. These indifferences reflect annual discount rates that declined from 277% to 139% to 63% as delays got longer. This contrasts with exponential discounting, in which valuation falls by a constant factor per unit delay and the discount rate stays the same.
The standard experiment used to reveal a test subject's hyperbolic discounting curve is to compare short-term preferences with long-term preferences. For instance: "Would you prefer a dollar today or three dollars tomorrow?" or "Would you prefer a dollar in one year or three dollars in one year and one day?" It has been claimed that a significant fraction of subjects will take the lesser amount today, but will gladly wait one extra day in a year in order to receive the higher amount instead. Individuals with such preferences are described as "present-biased".
The most important consequence of hyperbolic discounting is that it creates temporary preferences for small rewards that occur sooner over larger, later ones. Individuals using hyperbolic discounting reveal a strong tendency to make choices that are inconsistent over time -- they make choices today that their future self would prefer not to have made, despite knowing the same information. This dynamic inconsistency happens because hyperbolas distort the relative value of options with a fixed difference in delays in proportion to how far the choice-maker is from those options.
https://en.wikipedia.org/wiki/Hyperbolic_discounting
Hyperbolic Discounting: Why You Make Terrible Life Choices