The game theory of everyday life – where to stand in a lift

When you enter a lift, a bus, a doctor’s waiting room, or any other smallish place in which you and others are just waiting for something to happen, one of the key decisions you face is to choose where to stand or sit. How do we do this? What are the key factors (motives) behind our decisions? What are the consequences of this? What are the testable implications?

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Monthly Proposal No.4: transparency about income, wealth and its source

In comparison to other countries Austria seems to be very egalitarian. Nevertheless it is hard to find young pupils and students, who would define our income and wealth distribution as fair. It is not even close to fair.

However, I’m tired of talking about redistribution. I also put little hope in discussions between well-paid union officials, prosperous politicians and the lap-dogs of even richer ones. Instead I propose to stop protectionism and let everyone talk, discuss, claim and justify for its own. Let’s play market economy according to the underlying and arguing assumption: complete and symmetric information.

Provide transparency about income, wealth and its source. If all your money is earned fairly and squarely and all your property is built up on proportional individual effort, you do not have to fear the envy of other people. So do not shy away from your beloved competition, but proof your incredible talents which make you five, ten or even hundred times more productive than other ones. Do not hide behind some grey eminences, but explain your important role in our society and why you have deserved to enjoy the fruits sown by others. Be a grown up, stand up for your beliefs and argue them by your own facts and figures.