From wiki:
A dynamic decision problem
... Finally, we assume impatience, represented by a discount factor $0 < \beta < 1$
What the meaning of "impatience"? I can't understand even if I read https://en.wiktionary.org/wiki/impatience.
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huang
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2Do you want the mean (average) or meaning (definition) of impatience? – J.G. Mar 10 '22 at 08:25
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@J.G. Meaning, sorry English is not my native language. – huang Mar 10 '22 at 08:32
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1https://en.wikipedia.org/wiki/Time_preference – Jacob Manaker Mar 10 '22 at 08:44
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@JacobManaker "The neighbor's dog barks every night, which makes me impatient. ", is the "impatience" here same meaning to my question? – huang Mar 11 '22 at 06:01
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@JoeHuang: Probably not. Impatience in your sentence is an emotion (I think? It's a weird think to say). In the Bellman equation, we need some way to model the tradeoff between bad solutions now and good solutions later. This is called "impatience" to give us intuition for what it's measuring, but it's not predicated on any psychological sensation. – Jacob Manaker Mar 11 '22 at 06:43
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@JacobManaker Thanks. English is more difficult than math. – huang Mar 11 '22 at 06:46