The marshmallow test is when you stick one marshmallow in front of a kid and tell them they can have this now, or, if they wait an hour, they can have two. Then you walk away. Supposedly kids with self control who wait an hour without eating the marshmallow will have better SAT scores and a better life filled with fame and fortune, while those who greedily snatch the marshmallow will be dependent on their in-laws. I'm not sure about the veracity of the conclusions, but the experiment is a good example of time preference.
Time Preference
Time Preference
Time Preference
The marshmallow test is when you stick one marshmallow in front of a kid and tell them they can have this now, or, if they wait an hour, they can have two. Then you walk away. Supposedly kids with self control who wait an hour without eating the marshmallow will have better SAT scores and a better life filled with fame and fortune, while those who greedily snatch the marshmallow will be dependent on their in-laws. I'm not sure about the veracity of the conclusions, but the experiment is a good example of time preference.