The next few weeks might be a horrible time of year if you are 15 or 16. There are some big decisions coming up. One the one hand: the final exams for the GCSE courses, completing two years of work leading up to this moment. There is a lot of studying still to do, notes to be read, exercises to be worked through, understanding to be really nailed down. Final revision.
But on the other hand: the World Cup. In Brazil. England qualified, and while no-one thinks of England as favourites … who knows? Who would want to miss watching Gerrard and the team confounding the pundits and cruising into the semis?
What to do? This is a classic question of time preference: jam today (watching the game) versus jam tomorrow (getting the grades and higher lifetime income). What is the trade-off between grades and goals?
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