3min chapter

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Ep. 24 - Vernon Smith: Self-Interest Reconsidered

The Ralston College Podcast

CHAPTER

Taking the Trust Game - Is That a Good Idea?

Your work has radically re evaluated the idea that markets are based fundamentally, exclusively in self interest. So why do we say E takes all the money and one is made worse off? Because we assume people are self interested. We can't ke. But what this proposition says, it tells you something about the sympathies, the mutual, the fellow feeling you see between people That allows you to see gratitude,. permits his gratitude to be felt, and and the urgead and the feeling that that has to be be compensated.

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