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In this book, economist and evolutionary game theorist Daniel Freidman demonstrates that our moral codes and our market systems, while often in conflict, are really devices evolved to achieve similar ends, and that society functions best when morals and markets are in balance with each other.
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1. The challenge of understanding choice under risk -- 2. Historical review of research through 1960 -- 3. Measuring individual risk preferences -- 4. Aggregate-level evidence from the field -- 5. What are risk preferences? -- 6. Risky opportunities -- 7. Possible ways forward.
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When should a necessary inconvenience be introduced gradually, and when should it be imposed all at once? The question is crucial to web content providers, who in order to generate revenue must sooner or later introduce advertisements, subscription fees, or other inconveniences. Assuming that...
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