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Joachim De Posada Talks About Delayed Gratification
grrlscientist writes "Here is a short talk in which Joachim de Posada shares a landmark experiment on delayed gratification — and how it can predict future success. With priceless video of kids trying their hardest not to eat their marshmallow."
is worth over two on the table.
Delaying gratification is a form of risk taking; you're taking the risk that by delaying gratification now, you'll get greater gratification later.
If your experiences have led you to believe that you won't actually get the greater gratification, it's irrational for you to delay it. If the marshmallow will go stale sitting there and the second one won't actually be forthcoming, eat it now. If your savings are going to be destroyed by inflation, taxes and stock market crashes, spend the money now. If work expands to fill all available time, procrastinate now (or when you get around to it, anyway).
It could be that that is part of the reason that the experiment is predictive.
In non-pathological environments, fairly large amounts of trust are mostly a good thing. Both psychologically, just because trust is more comfortable than paranoia, and socially, because most social activities require a modicum of trust to work effectively(playing a game with people you trust to be good sports is much more enjoyable than trying to build a ruleset that can restrain all cheaters without devolving into hardcore lawyering just sucks), and economically, because distrust effectively imposes deadweight losses(If I distrust you, I'll either have to vet you extensively, which costs money, or be offered a better than usual deal to offset my distrust, which, just as in the more typical taxation or monopoly examples, many transactions that would be mutually beneficial do not occur). Empirically, there has been some very interesting work on the correlation between levels of trust in a society and a society's economic success.
It wouldn't at all surprise me if, in aggregate(and under non-pathological social conditions), people who generally trust more easily mostly exhibit better outcomes in school and beyond(it would, of course, be very interesting to see if there is a class of notable outliers here, either high trust people who get shafted 24/7 or paranoid bastards who rise to the top, or both, possibly the latter feeding on the former). I'm sure self control is also a virtue in itself; but it could well be that self control plus social trust is even better.
As an aside, this is the reason(beyond any ethical/moral ones) that permitting fraud and deceit and dismissing them with an "eh, let the buyer beware" is a bad strategy. Trust is extremely useful, distrust is costly(but necessary if highly untrustworthy individuals are a danger). If trust is an irrational position in a given society, it will become progressively less common, leading to higher costs across the board.