Capstone Microfinance Bank For Money
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Capstone microfinance bank for money write for me capstone mining bloomberg offshore fishing report for sebastian inlet ´╗┐what's fair well Congress decided it was seven dollars and twenty-five cents and out why is it not seven dollars why is enough $14 they're trying to decide what's fair well in the original sense of the word it was how you go about earning your job that would be the rules of fairness not what you actually earns a wage I'm Bart Wilson on the dial peak Kennedy professor of economics and law at the economic science institute of chapman university and by trade i'm an experimental economist I'm somebody who builds little worlds in the laboratory and and recruits my undergraduates to come participate in them for money and I observed what they do and so instead of building economic knowledge from first principles I'm building it from observation using control compounds the laboratory to test and predict how people behave people uses word fair a lot and economist started using it a lot in the 90s and I just think quite know what they meant by it and but yet they seem to know what they meant by it when they said it I came across this linguist on a vir spits go and she had done a written whole chapter on the origins of this word fair the word fair is an Anglo concept in a sense that there's no one to one translation of that word to any other language other languages like German will use the same word for just as they do for fair and they might also use similar as at for equitable in it well that that's three two one so if they have a same context in your German you're going to just use that word but in English we we won't use the word the same a different context we might say it doesn't feel right to use the word just so one of the examples is that teachers are considered to be fair or unfair you don't complain about the teacher being unjust that just doesn't quite work and and so that fact that the words don't quite work the same then means that we use them to connote something very particular fairs apply to situations in which there tacit rules governing your behavior and that means there's a wide bounds which you can make your decisions but then there are some bounds that you can't cross concept of fairness comes out of a system of rules and and I think mostly kind of tacit rules when you're talking about personal social interactions much more formal when you're talking about baseball it's interesting that the original antonym affair was not unfair but follow and I think that brings out what fair play is about so once I kinda had this idea of what the kind of current meaning meez and involves rules and communities think about the problem like did some further work of trying to understand how this definition has evolved I went to the first dictionary of english language samuel johnson published in 1755 and he listed the definition of fairness as honesty candor and Ingenuus pneus which is not how we use it right now unfair as this Ingenuus not honest or sub doulas which i didn't know what it meant so i had to look that up that me comes from the latin early meeting under deceit again not how we use the word today and what Samuel Johnson is known for is giving really good examples of the usage of the word at the time and the example he cites comes from Jonathan Swift in a letter to his friend mr. Pope he says you come to me like an unfair merchant to charge me with being your debt so his prime example of the word unfair involves commerce emergent and it turns out that's worth the word unfair was used for generally in the 18th century was to do business connections and business relationships but what does it mean to be a dishonest Richard means had these scales yes you know kind of to jip jip the customer and so fairness meant what are the rules of how you treat your customers and it it's coming down to the meat we're interested in how you go about what you do when we apply the word fair on fair I think public policy now is kind of changed that meaning and the meaning is come to the ends an example is minimum wages so when Congress passed the last minimum wage bill which I think was 2007 it was called the fair minimum wage act okay what's fair well Congress decided it was seven dollars and twenty-five cents an hour why is it not seven dollars why is enough $14 they're trying to decide what's fair well in the original sense the word it was how you go about earning your job that would be the rules of fairness not what you actually earns a wage I think for Public Policy a lot of people are using the word fair to look at the ends economists tend to focus on equity when they talk about fairness and one of my critiques and is that we got to get away from that fairness means a lot more than that than just equity it's about the rules of the game and and that's because fairness can change from situation to situation and so so the example a of the ultimatum game in the ultimatum game one person is designated as the proposer and is given a set of money from the experimenter and asked to decide how to divide that between himself and another person once the proposers made that decision would say it's ten dollars decides to split it six for himself or for the other person the responder the second person decides to accept or reject that offer if the responder accepts the offer they take their money and go home if responder rejects the offer either gets anything but robot will take anything anything is greater you know one is better than nothing so uh a robot would accept that and another robot knowing that could compute therefore I offer one humans will see one dollar and be offended by that and say no if you just bring people in and randomly assign them to be the proposers and the responders the modal offers around half the pie fit five dollars but if you first bring in people and you give them a quiz and the people who score best in the quiz get to be the proposers the offers are much lower and they're accepted the rejection rates don't go up so people option what is fair now is different and it's not equal anymore so now the modal offer is shifted down so fairness is still involved but it's not equitable anymore so if you earn the right people feel more entitled to what they've been given I think that's an important element that when we put some of ourselves into what we're doing we expect to have control over it and other people expect to expect you to do that and will respect you for doing that what we find from running experiments on fairness in the laboratory is that our notion of it varies pretty substantially depending on the circumstances people are very sensitive to this social context in which they're making the decisions and so our notions of what's fair can vary pretty dramatically oh we don't work towards a more fair Society consciously we do it subconsciously and we do it all the time in the sense of winter acting with their friends family neighbors and somebody goes outside the bounds of fair play we say something when somebody asks too much of somebody else we say you can't do that and we do that all the time we jointly as groups of individuals decide what's good and proper for us and that since it's a very local community type concept the government shouldn't be involved in that people are different communities are different and government doesn't know what the standards are in different places and different people so I think we do it from the ground up you capstone logistics nc Courant Institute of Mathematical Sciences.

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