Frank Partnoy: "Wait: The Art and Science of Delay"
http://thedianerehmshow.org/shows/2012-07-10/frank-partnoy-wait-art-and-science-delay
American society is obsessed with speed, productivity and efficiency. We are told to never put off until tomorrow what can been done today. Quick decision making is considered a virtue, while procrastination is a sin. But University of San Diego law and finance professor Frank Partnoy says not so fast. In ancient Egypt and Rome, procrastination was thought to be useful and wise. Partnoy spent more than three years combing through scientific studies and interviewing experts in different fields to study the role of timing in decision making. He tells us why the longer we can wait before acting, the better.
Guests
Frank Partnoy
professor of law and finance and the founding director of the Center for Corporate and Securities Law at the University of San Diego; author of "F.I.A.S.C.O.," "Infectious Greed" and "The Match King"
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Read An Excerpt
Excerpt from "Wait: The Art and Science of Delay" by Frank Partnoy. Copyright 2012 by Callum Roberts. Reprinted here by permission of PublicAffairs. All rights reserved.
Comments
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I really want to listen to this show ... but I think I'll wait and hear the re-broadcast!
I am a Peace Corps Volunteer and I have found the benefits of slowing down to be unbelievably valuable. And I have seen the younger volunteers find out the same, though they may not recognize they are doing so. I think a mandatory volunteer period of a year for all young Americans would do wonders for giving them a chance to slow down and think things through. It would benefit them and the nation.
When I am playing tennis, if I become nervous for whatever reason, my heart rate increases and I do not play as well. However, during matches where it does not really matter (playing with friends and having a good time), and my heart rate is even, I play better. I try to not become nervous or anxious during any exercise because I know it will be better for me to keep calm, but it is not always easy. I do suffer with PAC's (premature atrial contractions which are very benign and actually are controlled with magnesium) and that is why I am very aware when my heart rate changes.
Sandra Grinkmeyer
Cincinnati, Ohio
Great question about children and delayed gratification Diane. Wonder what your guest can say about the addiction gene and how that plays into the inability of some to delay gratification
Re Portnoy's account of his research: It is naive to understand that when persons being tested are aware that their possible racism is being researched, they are able to frame tyheir responses so as not to seem racist. The supposedly non-racist response can just as accurately be said to show that they know how to avoid being seen as racists.
(Also, on another matter, "bias" is not a Greek word. The plural is not bias-EEZE, but plain bias-ES', with a schwa sound.
Car rental services will not rent to people under 25 or 26 can your guest talk about this decision and what studies they have based this decision on?
On dogs and delayed gratification. I would watch my neighbor feed our two dogs and his families two dogs bones. Lobita a husky wolf, Casey a mix breed, Chester a huge dalmation would all get into a tussle over the bones. Snuffy a husky wolf, bassett hound (yes he was beautiful and freaky looking) would sit off to the side and watch the other three dogs get into a scramble. As they would fight he would pick up bone after bone and walk away and hide them. The other dogs would finally stop and look around and say "huh" what just happened this would happen over and over again. Snuffy was all about delayed gratification well on those bones anyway
Find that stat interesting that you are claiming that people have the tendency to apologize right away. I know very few people who apologize on the spot especially men who I have found seldom apologize. Often find this beating of the chest or go into a "oh I am always wrong" neither of these responses are an apology.
Statistically have you found that women apologize more quickly than men? I think if people wait they are less likely to apologize at all
Great topic - so very interesting for me as a teacher, coach and parent. Sorry - couldn't wait.....bought the book on Kindle.
Thanks! Matthew
My experience with making decisions is that I can go with my gut without making snap decisions. Perhaps our phrase "go with your gut" has a connotation that means it's a fast choice, but I don't think this has to be the case. I often take time to think about, meditate, and tune into my gut feelings and intuition to make decisions. Please don't discourage people from tuning into their feelings about decisions. There is a way to "wait" while monitoring your gut feelings slowly and deliberately.
Thank you I will read this book. How wonderful to hear that what I do and most importantly what I don't do is the topic for today's show!
I just have sent an e-mail to the restaurant I visited last night to please ask the servers to change their policy of dropping off the check in the middle of the dinner. What a visual clue that they are done with you.... while I'm still eating. We all need to slow down and wait!
Again, Frank thank you for your book and Diane your show!
Chris
My name is John, a returning veteran Army medic from Nevada who would like to state that "triage" is an important part of the decision making process. Often we are confronted with circumstances whereby and whereon fast decisions are vital to our everyday lives. Triage, or prioritizing the urgency of tasks is instrumental to saving the lives of our fellow teammates be it calling in a helicopter, to evacuating a patient in a life and death situation can be utilized at great expense vs. ground transport, or remaining on the battlefield. Again, triage is the key in our job as medics where long lasting consequences result. I appreciate your time and will take the answer off the air.