Remembering the Future

The Stanford Marshmallow Test shows how many children find it exceptionally difficult to delay the possibility of an immediate reward.

It’s not just children who have problems with a deferred reward, for even exceptionally able and experienced leaders find it just as difficult to escape from the tyranny of the short-term gratification. For example, it has been shown that 80% of business leaders have turned down projects expected to produce positive value in the long run because the projects would lower the firms’ quarterly earnings.

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