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The Price of Pain and the Value of Suffering
During these trying financial times, the cost of healthcare and how much we are willing to pay for it is at the top of our economic concerns. The financial value of pain has a wide
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Why Delaying Gratification is Smart: A Neural Link Between Intelligence and Self-control
If you had a choice between receiving $1,000 right now or $4,000 ten years from now, which would you pick? Psychologists use the term “delay discounting” to describe our inability to resist the temptation of
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In Money Matters, Patience can Profit
Whether it’s waking up at the crack of dawn to go to the gym or breaking the bank to pay for college and graduate school, most of us pay small prices in hopes for a
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New Study Explains why the Future is More Important than the Past
With all due respect to History teachers, people generally give events that have yet to come more value than those that have already happened. This way of thinking is far from illogical; the future is
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Money Makes the Heart Grow Less Fond…but More Hardworking
Money is a necessity: it provides us with material objects that are important for survival and for entertainment, and it is often used as a reward. But recent studies have shown that money is not
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Age-Old Money Matters: Positivity in Older Adults Leads to Balanced Investments
The economic and psychological term known as “sunk-cost fallacy” is a bias that leads someone to make a decision based solely on a previous financial investment. For example, a baseball fan might attend every game
