Sunday, March 18, 2018

Bernie's Self-control...


Sunday reflection:
"[Walter] Mischel has priceless videos from some of the early experiments that demonstrate the difficulty kids had in exerting self-control. There is one kid I am particularly curious about. He was in the toughest setup, in which the bigger prize, three delicious Oreo cookies, was sitting right in front of him. After a brief wait, he could not stand it anymore. But rather than ring the bell, he carefully opened each cookie, licked out the yummy white filling, and then put the cookie back together, arranging the three cookies as best he could to avoid detection. In my imagination, this kid grows up to be Bernie Madoff."
                                                             -- Richard Thaler in "Misbehaving"



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