One Marshmallow Now or Two Later: The Investor’s Dilemma
One Marshmallow Now or Two Later: The Investor’s Dilemma The marshmallow test is a well-known psychology experiment. A child is offered a choice: one marshmallow immediately, or two marshmallows if they can wait. It is a simple test of delayed gratification, but its lessons apply far beyond childhood. In investing, we face the same choice…