I'm working out a concept based around the long tail of slowly-realised costs. It's another economic market problem, similar in regards to informational asymmetries (all information isn't equally available to all parties), but here, all information isn't equally available at all times.
Market perceptions are based on promptly-evident information. If the immediate impression of a good is negative, then even large long-run benefits tend to be strongly discounted. If the immediate impressions are good, then even large long-run negative benefits are discounted. All the more so if those long-run effects aren't trivially evident. Take Thomas Midgely. Invented two compounds both of which had immediately evident benefits: freon and tetraethyl lead. Unfortunately for him, they both also had exceptionally bad long-term costs.
I'm not aware of any similar concept in economics, though Gresham's Law is perhaps related.
Market perceptions are based on promptly-evident information. If the immediate impression of a good is negative, then even large long-run benefits tend to be strongly discounted. If the immediate impressions are good, then even large long-run negative benefits are discounted. All the more so if those long-run effects aren't trivially evident. Take Thomas Midgely. Invented two compounds both of which had immediately evident benefits: freon and tetraethyl lead. Unfortunately for him, they both also had exceptionally bad long-term costs.
I'm not aware of any similar concept in economics, though Gresham's Law is perhaps related.