Funny Video about Fairness and Economic Behaviour

21 11 2014

Today, I had that chance to observe the teaching of a colleague here at the University of Liverpool Management School. It was an inspirationally good lecture characterized by excellent use of IT and great verbal delivery. The colleague, who is an economist, was teaching the second-year students about the behavioural economics research that shows that people will refuse to participate in transcations they regard as unfair even if this costs them money. Needless to say, this finding is the opposite of what the Max U model of human behaviour we were taught in Econ 101 says. After reviewing the research that shows that the universal human desire for fairness is also found in primates, she showed this hilarious video about monkey economic behaviour.

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