Michael Blastland
speaker
745 appearances
4 recordings
1 series
first heard Mar 2011
last heard Aug 2011
Michael Blastland’s voice in public audio — every appearance, attributed to the second.
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Appearances
This is a game with real money.
It's a very simple game called the ultimatum game.
And the way it works is I'm going to give some money in a second to Debbie.
And this is money you may or may not be able to hang on to.
So I'm going to give you the money and then you have to decide how to split that money between yourself and Julie.
And then Julie will say whether she accepts your, quote, ultimatum.
And if she accepts it, then the split goes through.
But if she rejects your ultimatum, the game's off and we take the money back.
OK, so here is your money.
That's £6.
Well, that actually turns out to be a very happy coincidence that you've chosen the standard response.
Some people choose other responses, but that's a very normal one.
Okay, Michael, you have a go.
So now you're going to play Debbie, and you've got the money.
You've got to decide what you're going to allow her to have.
I have my £6 in ready money, and I'm going to offer you...
I'm going to offer you 50p, actually, because I could use the money myself.
Look, I'm offering you 50p off free money.
That's so irrational.
Game theory, as this branch of economics is known, suggests that fairness can trump even what looks like self-interest, that at our simplest level of economic motivation, morality must count.
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