LiveScience: While patience may be a virtue, a new study is showing that it can also help your credit score. According to research by two economists at Boston’s Federal Reserve Center for Behavioral Economics and Decision Making, people who were willing to wait for long-term benefits had better credit scores More
Forbes: Everything seems to come back to marshmallows in the end. You may recall the famous 1972 Stanford psychology study, conducted by Walter Mischel, in which a group of kids were presented with a plate of marshmallows and told that if they could wait and not eat them now, they’d get More
International Business Times: The Stanford marshmallow delayed gratification test is one of the most influential behavior studies in modern history. Conducted by Stanford psychologist Walter Mischel in 1972, it has proven to be a solid predicator of success in life and is used by elite preschools to screen their young More
Is there a psychological reason why people default on their mortgages? A new study, which will be published in an upcoming issue of Psychological Science, a journal of the Association for Psychological Science, finds that people with bad credit scores are more impatient – more likely to choose immediate rewards More
NPR: New findings in the science of charity reveals some counter-intuitive results. For instance, people will give more money to a single suffering person than to a population of suffering people, and also give more when some type of physical discomfort — for example, running a marathon — is involved. More
This week, the deficit reduction supercommittee failed to reach a consensus in creating a plan to reduce the national deficit by at least $1.2 trillion. Psychological science can provide some insights into the difficulties faced by the supercommittee members as they proceeded with the negotiations under intense political pressure and More
