lunes, 28 de mayo de 2012

Grecia, el Euro y Economía del Comportamiento

Una interesante interepretación de la crisis enGrecia y el euro bajo el marco de la Economía del Comportamiento (BE)

The basic problem is that we care so much about fairness that we are often willing to sacrifice economic well-being to enforce it. Behavioral economists have shown that a sizable percentage of people are willing to pay real money to punish people who are taking from a common pot but not contributing to it. Just to insure that shirkers get what they deserve, we are prepared to make ourselves poorer. Similarly, a famous experiment known as the ultimatum game—one person offers another a cut of a sum of money and the second person decides whether or not to accept—shows that people will walk away from free money if they feel that an offer is unfair. Thus, even when there’s a solution that would leave everyone better off, a fixation on fairness can make agreement impossible.

The fairness problem is exacerbated by the fact that our definition of what counts as fair typically reflects what the economists Linda Babcock and George Loewenstein call a “self-serving bias.” You’d think that the Greeks’ resentment of austerity might be attenuated by the recognition of how much money Germany has already paid and how much damage was done by rampant Greek tax dodging. Or Germans might acknowledge that their devotion to low inflation makes it much harder for struggling economies like Greece to start growing again. Instead, the self-serving bias leads us to define fairness in ways that redound to our benefit, and to discount information that might conflict with our perspective. This effect is even more pronounced when bargainers don’t feel that they are part of the same community—a phenomenon that psychologists call “social distance.” The pervasive rhetoric that frames the conflict in terms of national stereotypes—hardworking, frugal Germans versus frivolous, corrupt Greeks, or tightfisted, imperialistic Germans versus freewheeling, independent Greeks—makes it all the more difficult to reach a reasonable compromise.