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”
Approximately 85% to 90% of the global population is right-handed, while the remainder is left-handed, with very few being ambidextrous. Throughout history, horses have served as a primary mode of transportation for humans. Typically, right-handed individuals mount a horse from the left side, relying on their right hand to grasp the saddle for support. If a person approaches the horse from the edge of a busy road on the left, this naturally orients the horse’s movement toward the left side of the road. Consequently, human anatomical tendencies have influenced the direction of road traffic. This practice led to the establishment of the left-hand shipping rule for vehicles, ships, planes, and even space shuttles. Thus, our civilization on Earth represents a legacy shaped by human anatomical traits. - Joseph’s “just my thoughts”