Saturday, January 29, 2011


Burning other people’s money
...“Are people willing to pay to burn other people’s money? The short answer to this question is: yes. Our subjects gave up large amounts of their cash to hurt others in the laboratory. The extent of burning surprised us…Even at a price of 0.25 (meaning that to burn another person’s dollar cost me 25 cents), many people wished to destroy other individuals’ cash.”

–”Are People willing to Pay to Reduce Others’ Incomes?” Daniel John Zizzo & Andrew Oswald, July 2, 2001...