German scientists are saying that talkative birds, Parrots can make complex economic decisions.

33 macaws and African grey parrots were taught to recognise the value of tokens which could be exchanged for food as part of the experiment at the Max Planck Institute in Germany.

The birds then had to invest their tokens, either in low-value immediate rewards, or high-value but more expensive rewards.

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The most patient parrots could exchange their tokens for pieces of walnut, while the less determined traders were stuck with dry corn or sunflower seeds.

Scientists found that when offered a low-quality food or a token, the parrots would consistently choose the token if it could get them a better food prize.

Lead researcher Dr Auguste von Bayern, from the Max Planck Institute of Ornithology in Starnberg, Germany, said that because wild parrots are difficult to track it is hard to know whether these kinds of decisions are a part of the parrots' natural life, reports Sky News UK.

She said: "In our experimental setting we have found that they are capable of making surprisingly subtle decisions to maximise their payoff while minimising their effort.

"This is a fascinating indication that such decisions may matter greatly in their natural environment."

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