Predictably Irrational Chapter 11 & 12 – The Context Of Our Character

Chapters 11 and 12 of “Predictably Irrational” by Dan Ariely are all about dishonesty. He discusses the decline in ethics which is relevant at a time of corporate scandals and financial scams. He examines and measures the likelihood of people cheating for financial gain and ways to keep them honest. The level of integrity his experiments reveal is particularly interesting. He also finds how people differentiate between cheating, being more likely to cheat if non-monetary items are involved. Continue reading “Predictably Irrational Chapter 11 & 12 – The Context Of Our Character”

Applying Economics To Ticket Scalping

Last month a friend asked my opinion and I thought I might be able to apply my economic knowledge to a real life scenario (this almost never happens so I got quite excited). It had to do with the process of reselling tickets, and we debated whether or not this was greedy exploitation or simple capitalism. Is it right to be governed by money and the market or should social norms and ethics dominate? Continue reading “Applying Economics To Ticket Scalping”