Reserve analysis 2022 part 2: Eating the first marshmallow

In the 1970s, a professor at Stanford University undertook what is now famously known as the “Stanford marshmallow experiment”. In a nutshell this test of capacity for delayed gratification left a child in a room with a single marshmallow for a period of time. The child was told they could eat the one they were given or wait and get a second marshmallow.