Is fairness cross-cultural, or not?
A couple of days ago, I wrote a post on fairness, and what the odd history of the word might mean for markets. The esteemed James Surowiecki, whose book I use in the classes that I teach, wonders whether it really matters that only English has the specific word "fair", given that people around the world make similar decisions in the ultimatum game. It's less interesting to me that people nearly universally offer (and accept) more than $1; the benchmark of a… More »
