Karen calls this "unsurprising," and I suppose I understand what everyone’s getting at — having patience is smart — but the "study" as briefly presented is utter nonsense.
It seems that a desire to be satisfied right now is linked with lower
intelligence. When 1,000 people in Germany were given the choice of
receiving 100 euros today or 150 euros a year from now, those with a
higher IQ chose to wait for the higher return. It’s the first time
research has shown a relationship between intelligence and patience. Source: University of Bonn, July 2007
I suspect it’s just that the smart people knew an exercise in masturbation when they heard it, and picked the answer most likely to to arouse pleasure in the sponsors. A hundred euros is an insignificant amount of money (around $140), I have no idea whether a promise will be kept a year from now, so I’ll take the 100 euro now, please, if you’re offering.
But suppose it’s 100,000 euros verses nothing now, and a promise for 150,000 in a year. Now the uncertainty of the promise being kept is even more prescient (and if you’re not factoring that in you’re not smart). That’s enough right there to opt for the here and now, disregarding even then possibility that you may not even be alive in a year. Moreover, if you’re an entrepreneur, or ever had inklings of becoming one, an ROI of many hundreds of even thousands of percent is an absolute necessity for real success, and a 50% annual return is simply not worth a year’s delay.
Guess I’m just a dummy.