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May 23, 2015

Homework Help: Delay of Gratification

Posted by Melissa on Monday, October 22, 2007 at 8:11pm.

Which of the following illustrates the concept of delay of gratification?

a. preferring $500 now rather than $1,000 dollars one year from now
b. preferring $1,000 one year from now rather than $500 now
c. preferring a 1-in-1,000 chance at $10,000 rather than $10 for certain
d. preferring $10 for certain rather than a 1-in-1,000 chance at $10,000

i chose answer B. because you would be waiting a year to receive your long waited reward. i dont know what C. means, i dont know if that would be a good or bad thing? Please help me out!

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