Friday, July 06, 2007

Intelligent People Are More Patient In Financial Matters; Higher IQ Also Makes More Tolerant Of Risk

Assuming someone gave you the choice of 100 euros today or 150 euros in a year's time. Which sum would you take? Scientists at the University of Bonn and the Institute for the Study of Labour (Institut zur Zukunft der Arbeit, IZA) asked 1000 adults in Germany this question. At the same time they measured the cognitive abilities of the participants, using two different methods. The result was that intelligent people prefer to wait for a higher return, rather than going for the money now. This is the first time that this relationship between intelligence and patience in financial matters has been shown. Furthermore, the willingness to run risks increases with higher intelligence.

Well, judging from such things as SAT and GRE scores, and others judgements, I'm pretty intelligence, but I don't consider myself very willing to run risks.

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