Wednesday, August 08, 2007

Greed's not always good

The raw assumption that economic agents are primarily motivated by selfishness has been refined in recent decades. Here is a recent study which illuminates motivations in human market interations. Scientific American Mind: Is Greed Good?
Economists are finding that social concerns often trump selfishness in financial decision making,a view that helps to explain why tens of millions of people send money to strangers they find on the Internet...

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