Essay About Honesty And Dishonesty

Essay About Honesty And Dishonesty-82
So, of course, if you work in a bank and your bank people are perfectly honest, and then you have other banks where people try all the funny procedures and they don't have Chinese walls and they sell stocks that are not good to their clients to take them off of their hands and so on.

So, of course, if you work in a bank and your bank people are perfectly honest, and then you have other banks where people try all the funny procedures and they don't have Chinese walls and they sell stocks that are not good to their clients to take them off of their hands and so on.

Then come back and tell us how many questions you solved correctly and we'll pay you accordingly, a dollar per question.” Now, what people don't know is that we played with the shredder, the shredder only shreds the side of the page, but not the full page and we can jump in and find how many questions people really solved correctly. We find that on average people solved around four problems and report to be solving six.

Okay, that's a general finding, and we find that the six is not comprised of a few people who cheat a lot, instead it's comprised of many people who cheat a little bit.

In the rational framework of course people always think about the long-term and in the rational framework of cheating people think in the long-term, but in reality we find that people don't think so much about the long-term.

And this means, by the way, that the rules and regulations and laws that rely on the long-term, that rely on prison sentences, and probability that someday somebody might catch you are much less effective then we think because when we are creating the rules and regulations we have in mind a rational agent who thinks in the long-term and human beings are not like that and college students are of course the same.

But, for the companies this is really bad, the companies can go bankrupt.

I mean, in fact there was just a story recently of a trader who basically caused his bank to lose 2 Billion dollars by misbehaving.So, there's lots of examples like this when individuals are misbehaving dishonestly in the short-term and not thinking about the long-term and companies are not sufficiently successful in regulating this behavior.In terms of being honest and it backfiring, it depends on what you mean by “backfiring”.In particular, one of the things we find is being mentally exhausted gets people to cheat more, and here is the finding: There is something called depletion.Depletion is the idea that when we exercise self control, when we try to resist temptation, we try to resist a cake and a cookie and Facebook and Youtube and saying something nasty to someone and so on.So for example, in one of our experiments we found that, the basic experiment looked like this, people have a sheet of paper with 20 simple math problems that they can solve all of them if they had enough time, but we don't give people enough time.We give people only five minutes, we give them the sheet of paper, we say “work as hard as you can” and when the five minutes are over we say “please stop and count how many you questions you got correct, remember that number then go to the back and shred that sheet of paper.As we try and resist temptation more and more and more our ability to resist temptation diminishes until eventually we kind of collapse and give in. As we get tired by resisting temptation in all kinds of aspects of our lives we end up falling to temptation to a higher degree and cheat and lie to a higher degree.So, going back to the question about why people lie sometimes and not other times, there are clearly changes that happen within a person over time, but what we find is that an even bigger effect has to do with the environmental circumstances that are around us.Can you name a situation when somebody was dishonest and it backfired on them? So of course there are many cases where dishonesty has backfired and I think the best example of this is the financial crisis.When Greenspan went in front of Congress he said that he thought that companies would self-regulate themselves, right, that the individual traders and bankers of course have an incentive to be dishonest because they get to pocket a tremendous amount of money from this activity- something that is good for them in the short-term, but maybe not so good in the long-term.

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