Time Preference Rate. “The Marshmallow Tale” by Joachim de Posada and Ellen Singer describes the “Marshmallow Experiment” at Stanford University. The experimenter left the child alone in the room and gave the child a marshmallow, instructing the child to eat it immediately. However, if the child did not eat it within 15 minutes, the experimenter would give the child another marshmallow. Some children waited the full 15 minutes, while others stopped waiting early. These two groups were followed for 14 years, and as a result, the more patient children showed better social and mental abilities. Those who cannot tolerate waiting are said to have a high time preference rate, while those who are patient are described as having a low time preference rate. In investment, high and low time preference ratios are not necessarily good or bad because many investments depend on luck. The key is to find and stick to methods and principles that match one’s own tendencies. - Joseph’s “just my thoughts”
She laughed when God said she would conceive a son to the old Sarah. However, Sarah was pregnant and gave birth to her son Isaac, whose name means “smile.” The prophet Nathan rebuked King David in the words of God. David wept. The same God's words, some laughed, others cried. If Sarah's laughter was absurd, David's cry was repentance. The Bible rarely records people's unresponsiveness to God. You are at least worth the life if you can laugh or cry at something. Smile a lot and cry a lot. Life is short. - Joseph’s “just my thoughts”