|Posted on Monday, September 22, 2003 - 04:55 am: |
I really do.
My new word today:
NEOTERIC: Recent in origin; modern
SYNONYMS: * fresh
|Posted on Monday, September 22, 2003 - 04:59 am: |
Today's term, courtesy of The Word Spy:
(in.ek.wuh.tee uh.VUR.zhun) n. An innate tendency to resist or react negatively to inequitable or unfair situations.
We model fairness as self-centered inequity aversion. Inequity aversion means that people resist inequitable outcomes; i.e., they are willing to give up some material payoff to move in the direction of more equitable outcomes. Inequity aversion is self-centered if people do not care per se about inequity that exists among other people but are only interested in the fairness of their own material payoff relative to the payoff of others. We show that in the presence of some inequity-averse people "fair" and "cooperative" as well as "competitive" and "noncooperative" behavioral patterns can be explained in a coherent framework.
—Ernst Fehr and Klaus M. Schmidt, "A theory of fairness, competition, and cooperation," Quarterly Journal of Economics, August 1, 1999
|Posted on Thursday, October 30, 2003 - 01:32 pm: |