Reciprocity Trumps Self-Interest. It Also Explains Why We Disagree About Human Nature.

Some of the more interesting research in behavioral game theory has looked at why people depart from the move that would maximize their self-interest. There are two main possibilities: either they are self-interested but they’ve miscalculated; or they care about the other player’s outcome in addition to their own. (More concisely they are either being […]

The Bizarre Consequences of Standard Economic Logic (Unpaid Internships Edition)

Harvard economist Edward Glaeser has decided that the solution to problems of inequity in unpaid internships is to expand student loans to cover unpaid internships.┬áNow, to anyone not trained in economic logic, that probably sounds a little crazy. Student loan debt is over 1 trillion dollars, the job market is bleak, and the solution is […]