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Showing posts with the label Nobel Prize

Just my thoughts #0683

We describe the size and qualities of a human being’s capacity as a ‘bowl.’ People often say that luck or opportunity that exceeds the size of one’s bowl is rather harmful. That’s why people advise you to either seize the luck and opportunity that fit your bowl or make your bowl bigger. So, how do you determine the size of the bowl? Congenital conditions may also influence it, but acquired experiences and self-reflection are factors that shape the size of the bowl. Since I can’t force myself to create luck and opportunity, all I can do is develop my judgment and have the courage to accept or reject. The key to judgment is to avoid underestimating or overestimating yourself. Ultimately, it is most important to understand your own identity properly to make a true bowl. - Joseph’s “just my thoughts”

Just my thoughts #0112

In 2002, Nobel Prize-winning economist Daniel Kahneman conducted an experiment called the “Dictator Game”. It was 1986. One of the two subjects was given $20 to share with the other. The first condition was that the recipient could exercise his veto power if he did not like the distribution ratio, and then, the ruler ensured that the giver did not have the money. The second condition eliminated the veto. In the first condition, most people who gave money were divided in half. In the second condition, however, the giver had about 70% and shared only 30%. Most people think of fairness to vested interests between 50% and 70%. But, in some cases, even though the recipient had a veto, the giver had 90% and wanted to share only 10%. At that time, it was beneficial for the recipient to receive at least 10%, but by exercising the veto power, the giver did not have the money either. This is the moment of conflict between justice and rationality. People do not make decisions based on reason alon...