The (honest) truth about dishonesty

Daniel Ariely shows in a cool way how small things and a little bit of cheating on a micro level can result in big losses on a macro level such as a financial crisis.

The interesting part is that there are solutions to solve this issue and it might be more important than we think. A key finding is  that the distance between our action and responsibility creates unsocial/unethical decisions (Ethics defined as obedience to the unenforceable).

Nassim Taleb  argued in Antifragile in the same way. Decisions makers need more skin in the game! When it comes to finance here is the solution: 

Never ask anyone for their opinion, forecast or recommendation. Just ask them what they have- or don't have in their portfolio. (Taleb 2013) 



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