These experiments show that it is possible to structure situations that bring about better societies. “It was about how people are sometimes confused, succumb to temptation and care about others,” said Camerer about his talk at Davos. “The theory that all people are always out for themselves — the naive theory of economic man — is wrong. The thing that makes this viewpoint wrong is that a large percentage of people are reciprocal,” he said.
“We now understand a lot mathematically about how self-interest and reciprocity interact and how changing the economic rules of the game can create situations in which the reciprocity motive gets even the most selfish people to play along and act reciprocally, to everyone’s benefit.”
It is hopeful that economists seem to be getting past the 'autistic' assumptions that I was taught as the basics of the 'science' of economics...
Science & Theology News - More than money:
Filed in: economics, altruism, psychology, society, reciprocity, benefit
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