We should teach the students, as well as executives, how to conduct experiments, how to examine data, and how to use these tools to make better decisions.
From Dan Ariely
I always found the appeal to the market gods a bit odd. Why would the market fix mistakes instead of aggravating them?
While we somehow understand revenge on an intuitive level between individuals, I do suspect that companies, assuming that people are rational, completely miss and underestimate the motivation people have for revenge.
It is helpful to think of people as having two fundamental motivations: the desire to see ourselves as honest, good people, and the desire to gain the benefits that come from cheating - on our taxes or on the football field.
In a world where everyone is behaving honestly, any dishonesty constitutes a big infraction. But, in a world where many people are behaving dishonestly, and the news is filled with stories of their infractions, even big infractions can feel small to the perpetrator.
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