Clearance season is here! And...
Phil has somehow managed to come home with bag after bag of perfect items found at deep discount in the men's section from Lodan Dager navy pants to Paul Smith corduroy.So writes fashion blogger Julie Frederickson of her boyfriend. Who is totally gay right? Perhaps nein! A new study conducted on male economics students suggests that more testosterone actually makes men make economically irrational decisions. The study, conducted in that hotbed of testosterone that is the Harvard economics department, made men play "ultimatum games" — wherein one guy gets $40 and has to give the other guy either $5 or $25 and yeah it sounds fucking stupid to us too — and then took saliva samples from all the guys. And what do you know? All the guys who rejected the $5 offer even though $5 will totally buy you a beer in Boston and it's not like they had any choice in the matter, were the guys with way higher testosterone levels! They just rejected the money on principle! Losers!
What Dr. Burnham's result supports is a much deeper rejection of the tenets of classical economics than one based on a slight mis-evolution of negotiating skills. It backs the idea that what people really strive for is relative rather than absolute prosperity. They would rather accept less themselves than see a rival get ahead. That is likely to be particularly true in individuals with high testosterone levels, since that hormone is correlated with social dominance in many species.So, we used to think the fact that we weren't really into shoes or handbags or dresses or any of that other status shit girls buy to impress other girls meant we were more like guys, when actually it just must mean we are teeming fonts of estrogen. At least now we know why we keep crying at movies. (Dude, has anyone seen Once? Holy shit.)
Neuroeconomics: Money Isn't Everything [Economist]