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”
When we face the most innumerable values, we do not feel to be grateful. The most valuable things in the world are almost things we do not thank or easily ignore, like the air, light, etc. When the gratitude is routinized, the lack occurs instead. When the recent gratitude is forgotten, we blame and curse dissatisfaction. So if you want to protect the breaking relationship with someone, while you try your best but don't cause the gratitude of someone for you never become routine. If appreciation for you is routinized, the relationship you want to protect will be destroyed. Unconditionally good relationships can end for this reason. - Joseph’s “just my thoughts”