Chapter
The Economics of Spite
03:21 - 11:59 (08:37)
Spite can be defined as a behavior where an individual is willing to harm themselves at their own cost to harm someone else without creating anything good for a third party. This podcast discusses how spite is viewed by economists and the different scenarios where it can manifest.
Clips
The podcast discusses the concept of spite and defines it as a behavior where an individual is willing to harm themselves at their own cost to harm someone else without creating anything good for a third party.
03:21 - 07:57 (04:35)
Summary
The podcast discusses the concept of spite and defines it as a behavior where an individual is willing to harm themselves at their own cost to harm someone else without creating anything good for a third party. They discuss the economics of this behavior and how it relates to the individual's response to being wronged or punished.
ChapterThe Economics of Spite
Episode126. What Do Medieval Nuns and Bo Jackson Have in Common?
PodcastFreakonomics Radio
Researchers conduct the Ultimatum Game, a behavioral economics experiment where a player is given money to divide between themselves and an anonymous player, to observe the power dynamics between players and the role of the rejector in accepting or rejecting offers.
07:57 - 11:59 (04:02)
Summary
Researchers conduct the Ultimatum Game, a behavioral economics experiment where a player is given money to divide between themselves and an anonymous player, to observe the power dynamics between players and the role of the rejector in accepting or rejecting offers.