Subjective biases that managers hold often interfere with objective rationality. One type of subjective bias is to discount the future, which refers to $q,$

valuing longer$-$term benefits and costs more heavily than shorter$-$term benefits and costs.

overestimating the long$-$term effects of the decision.

underestimating the short$-$term effects of the decision.

valuing short$-$term benefits and costs more heavily than longer$-$term benefits and costs.

making quick decisions with whatever information is at hand.