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1.
Smart people and financial decisions |
Suppose that you were offered $100 today or $150 one year from now,
which would you choose?
This question was presented to a group of 1,000 volunteers by
researchers at the University of Bonn and the Institute for the
Study of Labor. In addition IQ tests were administered to the
same group.
The outcome of the experiment showed that higher IQ individuals
preferred to wait a year and receive more money.
The basic principle that was being researched was whether a direct
relationship existed between IQ and various personality traits. The
fact that lower IQ individuals may earn less money and have
greater financial needs making it more likely for them to take the
$100 was also taken into consideration. However after factoring
income levels into their analyses the researchers found that the
relationship between patience and IQ exists independently of
income level.Sources
University of Bonn
Institute for the Study of Labor |
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