Navigation Links
People With Higher IQs are More Patient in Financial Matters

A study by scientists at the University of Bonn and the Institute for the Study of Labour has revealed that intelligent people are more patient in financial matters.

In the study of 1000 adults in Germany, the researcher asked the respondents if someone gave them the choice of 100 euros today or 150 euros in a year's time, which sum would they take?

The researchers 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.

Scientists gave the test subjects 100 euros. The participants could put this amount straight into their pockets. However, they could also invest it for a year at a guaranteed fixed rate of interest. In this way the 100 euros would become, for example, 105, 120 or 150 euros. In an experiment the candidates were supposed to decide what the minimum amount would have to be in a year's time for it to be worth waiting longer for.

"The more intelligent the test subjects were, the more patient and tolerant of risk they were," is how the Bonn Professor of Economics, Dr. Armin Falk, sums the results up.

In conjunction with his colleagues Dr. Thomas Dohmen, Dr. Uwe Sunde and Dr. David Huffman at the IZA, Professor Falk was able to prove that the link between patience and cognitive abilities is even valid if the income factor is taken into account.

"What's more, according to our analysis, other indirect factors of influence can be excluded as an explanation," Professor Falk emphasised.

Instead, intelligence, patience and risk tolerance seem to be closely interconnected -- and probably for a good reason. In order to be a ble to assess a risk correctly or to have a successful strategy in the long term, it is necessary to be able to recognise how things are interconnected.

"Anyone who does not have this ability may be better advised to follow the principle of 'A bird in the hand is worth two in the bush,'" Professor Falk said.

However, someone who is intelligent seems to be twice favoured, according to the results of the Bonn study. On the one hand, they can be more successful, due to their cognitive abilities, than their less intelligent contemporaries. On the other hand, they are generally more tolerant of risk and more patient -- two character traits which research shows contribute additionally to success at the workplace.


Related medicine news :

1. Bad News for Short People
2. New hope on the Horizon for People Wishing to Quit Smoking
3. Prescription Drug - Helps People Stop Smoking
4. More People Seeking Treatment for Depression
5. Pain Common in People with MS
6. People with skin cancer at higher risk for other types
7. Laser Therapy Found To Help People Quit Smoking
8. Pomegranate Juice May Be The Next Best Thing For People With Heart Disease
9. New Treatment For People Allergic To Cats
10. People who fight wars may be at high risk of cardiovascular disease
11. People suffering from Alzheimer’s: can they take decisions about their treatment
Post Your Comments:

(Date:11/25/2015)... ... 2015 , ... The McHenry County law firm of Botto Gilbert Lancaster, ... Francisco J. Botto and Alex C. Wimmer. Attorneys Botto and Wimmer represented the claimant ... (2d) 130884WC. , According to court documents, Adcock testified that on May 10, 2010 ...
(Date:11/25/2015)... ... ... SCOTTSDALE, AZ) - Today, Dr. Todd C. Hobgood ... non-surgical treatments, announced the expansion of his private practice capabilities with the grand ... trained and nationally recognized for his natural approach, Dr. Todd Hobgood serves the ...
(Date:11/25/2015)... ... November 25, 2015 , ... In an ongoing Clinical Study conducted ... in Chicago, IL, UV Angel is evaluating the efficacy of its product and its ... units (totaling 30 beds) from May 2014 through October 2015 at a 360-bed, acute-care, ...
(Date:11/25/2015)... ... November 25, 2015 , ... ... scholarships for people struggling with eating disorders as a result of the $20,000 ... annual event, held at Fox Run Golf Club in Eureka, will help individuals ...
(Date:11/25/2015)... Davie, Florida (PRWEB) , ... November 25, 2015 ... ... PharmaTech LLC has announced that it has undertaken significant expansion of its current ... Florida. The investment is part of PharmaTech’s strategy to increase its manufacturing capacity ...
Breaking Medicine News(10 mins):
(Date:11/24/2015)... BOULDER, Colo. , Nov. 24, 2015 /PRNewswire/ ... announced that its Chief Executive Officer, Ron ... Annual Healthcare Conference in New York.  The public ... a webcast on the Array BioPharma website.Event:Piper Jaffray ... OfficerDate:  , Wednesday, December 2, 2015Time:1:30 p.m. Eastern ...
(Date:11/24/2015)... New York , 24. November 2015 ... des Avery Breathing Pacemaker Systems, ist erfreut, ... als Clinical Consultant bekannt geben zu können. ...   --> Foto ... Stockholm (Schweden). Von 1984-1986 war ...
(Date:11/24/2015)... 24, 2015 Avery Biomedical Devices (ABD), manufacturer ... announce the appointment of Anders Jonzon , MD; ... Dr. Jonzon is a Physiologist ... Hospital, Uppsala University, Uppsala and Children,s Hospital, Karolinska, ... a fellow at the Cardiovascular Institute (UCSF). His research ...
Breaking Medicine Technology: