Wednesday, December 12, 2012


From a FB post by JLW:

Michael Munger and John Locke may like this: Last Spring we had a garage sale. A relative priced most things, but due to circumstances couldn't put a sticker price on everything, so the rest was negotiable. Among those was an item in which $50 was offered from a neighbor who said she really needed it, but my relative negotiated down to $25 -- remember: my relative was the seller! That's to say, her gut told her to accept only $25 because $25 was the offer she would have taken from a stranger. THAT is ethics. You can't legislate it or regulate it, but it's there nonetheless.

1 comment:

Do you have suggestions on where we could find more examples of this phenomenon?