SELF-CON­TROL ON IN­STANT BEN­E­FITS DE­TER­MINES FU­TURE EARN­ING

The Gulf Today - Panorama - - HAVE YOU HEARD? -

If you have self-con­trol over the de­sire to get in­stant beneits, then you are more likely to earn higher in­come later, inds a study. Re­searchers from Tem­ple Univer­sity in Penn­syl­va­nia, US, used ar­ti­icial in­tel­li­gence to rank the most im­por­tant de­ter­mi­nants of fu­ture aflu­ence. They found ed­u­ca­tion and oc­cu­pa­tion were the best pre­dic­tors. But, peo­ple with greater self-con­trol to de­lay in­stant grati­ica­tion or with the abil­ity to dis­count the value of fu­ture rewards com­pared to im­me­di­ate ones, were more likely to have higher salaries later in life, beat­ing age, race, eth­nic­ity and height, said re­searchers. “If you want your child to grow up to earn a good salary, con­sider in­still­ing in them the im­por­tance of pass­ing on smaller, im­me­di­ate rewards in favour of larger ones that they have to wait for,” said lead au­thor Wil­liam Hampton from the Univer­sity of St Gallen in Switzer­land.

The study col­lected a large amount of data — from more than 2,500 di­verse par­tic­i­pants — and split them into a train­ing set and a test set.

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