Article 13: How Animals Do Business By: Frans B.M. de Waal The New Economics-Classical economists see people as profit maximizers driven by pure selfishness-A new thought, called behavioral economics is emerging that focuses on actual human behavior rather than on the abstract forces of the marketplace as a guide for understanding economic decision making-Animal behavioral economics believes that basic human economic tendencies and preoccupations are not limited to our species o They probably evolved to help individuals take optimal advantage of one another without undermining the shared interests that support group life The Evolution of Reciprocity-If helping is communal, all parties stand to gain – everyone’s chances for survival go up-Reciprocal altruism o If one primate does a favor for another, they are more likely to be repaid later However, they are more likely to keep track of favors from distant relatives and strangers than they are from close family Biological Markets
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