Long-term investment, not altruism
2018-03-31
- The discount rate for future value varies from person to person.
- The figure says hyperbolic discounting, but hyperbolic discounting is different because we are talking about a (irrational) reduction in the discount rate itself hyperbolic discounting - Wikipedia.
- Stanford's [Marshmallow Experiment - Wikipedia https://ja.wikipedia.org/wiki/%E3%83%9E%E3%82%B7%E3%83%A5%E3%83%9E%E3%83%AD%E5%AE %9F%E9%A8%93]
- A person with a higher discount rate estimates a higher future value that is balanced by the current $10,000.
- So we tend to choose "what we want now" from a variety of options.
- When the discount rate is somewhat lower, the average growth rate of people and stocks is greater
- When it comes to that,
- Better to invest for the long term in stocks than to get cash now.
- Better to benefit others than to benefit yourself now (assuming a retro-return policy)
- When it comes to that,
- Selfish decisions to maximize one's own future profits result in the behavior of "giving to others rather than taking for oneself.
- This is seemingly altruistic behavior.
- But in reality, it is just a long-term investment.
- Identification of either
If for some reason the other party's future growth rate is low
- Altruism should be unaffected since it has nothing to do with future growth, etc.
- Long-term investments are affected
- Related mentor's personality#60363486aff09e0000b3a450
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