This was posted 53 minutes ago and no one has given us the Vimes Boots Theory of Economics yet?
Don't believe everything you read. Fiction isn't real.
There's an opposing wise saying too: https://kottke.org/10/10/andy-warhol-on-coca-cola
Re:Marshmallow Test Fails to Replicate
by harimau777 on Friday August 02, 2024 @09:39PM
(#41144081)
Coke isn't comparable to boots in this case. Unlike boots, there is relatively little difference in price or quality in colas and the price is low enough that almost everyone can afford them. On the other hand, there is a dramatic difference in price and quality in footwear.
Sam's Cola is $8.54 for a 24 pack while Coca-Cola is $13.48. (Both prices taken from Walmart).
Cheap work boots are $30 at Walmart while Red Wing Super Soles are $250 while Iron Rangers are $350.
Re:Marshmallow Test Fails to Replicate
by calvinmorrison on Friday August 02, 2024 @10:13PM
(#41144208)
Skip the Iron Rangers and go straight for the Thorogood Moc Toe
"poor taxes" are an extremely real thing. google up the phrase to find tons of examples.
Re:Marshmallow Test Fails to Replicate
by thaumasiotes on Saturday August 03, 2024 @11:56AM
(#41147327)
> I mean maybe if real life was like "wait one minute and double your money" people would do it
In that kind of scenario, everyone's savings are constantly wiped out; there's no difference between "wait one minute and double your money" and "wait one minute and all your money disappears".
Likely this is related to the marshmallow. I need to eat. I will eat it now. I cannot guarantee the marginal return on more marshmallows. I mean maybe if real life was like "wait one minute and double your money" people would do it, but typically it's like, lock up your cash for weeks, months, years at a time for margins, not for doubling your marshmallow count.
In real life, realized savings or gains of 1 or 2 or 4 percent for a 6 month wait is not worth the RISK of locking up that marshmallow (or T-bond) when having that marshmallow locked up may result in say, no housing.