Thread: Poor people spend 9% of income on lottery tickets
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Old 03-31-2012, 09:25 AM  
shake
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Join Date: Jul 2003
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Posts: 4,664
Quote:
Originally Posted by Buff View Post
The vast majority of the poor in the United States are poor because they have high time preferences (http://en.wikipedia.org/wiki/Time_preference) and low IQs.
Very interesting, I haven't heard about "Time preference" before. I've long thought about that general concept, but it's nice to know the name for it thanks
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