Integrated Investing by Bonnie Foley-Wong

Author:Bonnie Foley-Wong [Foley-Wong, Bonnie]
Language: eng
Format: epub
ISBN: 9780995327405
Publisher: Bevel Press
Published: 2016-11-22T05:00:00+00:00

Exchange Mindset Self-Interest Mindset Serving Others Mindset

Us and them, together Me Them

Give and take Take Them

Community Selfish Selfless

Collaborative Competitive Charitable

Fair Greed Sacrifice

The Ultimatum Game

In the Ultimatum Game, invented by German sociologist Werner Güth in the early 1980s, you receive a fixed amount of money, say, ten dollars, to share with a stranger according to some rules. You must offer the stranger a proportion of the money. If the stranger accepts your offer, you and the stranger leave the game with the agreed amounts. If the stranger rejects your offer, you get the ten dollars back and you both leave with nothing. The roles can be reversed. If you were offered ten dollars from a stranger under the same rules, which offers would you accept and or reject? Researchers have studied the outcomes of this game over the past thirty years, and offers are typically at least 30%, with the most common offer by proposers being 50%. Responders usually reject anything less than 30%. In his book Basic Instincts: Human Nature and the New Economics , Pete Lunn believes the explanation for this behavior is that our instincts associated with fairness are stronger and outweigh our selfish emotions for money.1

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