Fair Is Fair: With Guests John Thorn & Richard Thaler

Published: Aug. 31, 2020, 4 a.m.

b'\\u201cMom! Janey got more ice cream than me! Not fair!\\u201d For kids\\u2014and many adults\\u2014the notion of what\\u2019s fair or not often involves comparing quantities of some valuable thing. But there\\u2019s another, more nuanced concept of fairness that crops up in certain types of negotiations. \\n\\nIn this episode of Choiceology with Katy Milkman, we look at what people perceive as fair or not amid changing circumstances.\\n\\nAt the turn of the 20th century, professional baseball had entered what came to be known as the dead-ball era. Pitchers had a distinct advantage over batters, resulting in low-scoring games and a substantial drop in attendance. Owners and league officials decided they needed to change some rules to entice fans back to their stadiums. One option on the table was to ban the spitball.\\n\\nJohn Thorn explains the history of the spitball and other doctored pitches and describes the state of baseball at the time. While empty bleachers were clearly bad for the bottom line, the owners also recognized the problem of implementing a rule change that would likely destroy some pitchers\\u2019 careers. You\\u2019ll hear about the clever solution that the league arrived at to ensure a more exciting game without alienating their players.\\n\\nNext, Richard Thaler joins Katy to explain his pioneering work with Daniel Kahneman and Jack Knetsch in describing the principle of dual entitlement. You\\u2019ll hear about several different scenarios where the phenomenon occurs and how it relates to status quo bias.'