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Dan Ariely on how symbolic wealth makes us act dishonestly

submitted by wagthedog1
1 decade 5 years 6 months ago

Dan Ariely describes his experiment of leaving 6 coke drinks vs. 6 dollars in a public place to test effect on ethical behavior. He extrapolates this result to a society that is dominated by symbolic representations of wealth: asset portfolios, credit, mortgage-backed bonds, etc.

The Professor of behavioral economics also alluded to this experiment in his TED talk:
http://philosophy.videosift.com/video/Why-we-think-it-s-OK-to-cheat-and-steal-sometimes

This video is part of a series promoting his book: Predictably Irrational: Expanded and Revised Edition (2009) in which he takes classical rational-based economics to task.