eng 100 essay 5 - ` Don't be Selfish In the article"It...

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Don’t be Selfish In the article “It Doesn’t Add Up”, Michael Shermer writes about the idea of loss aversion and how people react. Various experiments tested insinuate how people act towards money and what people have around them. Michael says “research shows majority of people would rather make twice as much as others even if that meant earning half as much as they could otherwise have”. Research is based off the psychological fact people need assurance that the potential gain is twice what the possible loss might be. Monkeys and humans re-act the same way which shows it’s proven through genetics. An experiment mentioned gave monkeys the choice of a 50% gain or 50% loss and the monkeys were twice as aware to the loss then the potential gain. Ancient ancestors were the same way as we are which means humans have been this way for centuries. Their idea of economics is similar to how we think today. Reasons I believe we act this way is from genetics which leads to fairness and having competitive drive.
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This note was uploaded on 03/18/2012 for the course ENG 100 taught by Professor Peters during the Fall '08 term at Santa Barbara City.

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eng 100 essay 5 - ` Don't be Selfish In the article"It...

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