4 ms·
People don't always make the rational choice for long term benefits when there are short term gains to be had. Individuals, thanks to bounded rationality, tend
by lsiebert 7y ago
People don't always make the rational choice for long term benefits when there are short term gains to be had. Individuals, thanks to bounded rationality, tend to seek satisfactory solutions, not optimal ones. It takes coordinated effort to find optimal solutions.
Another way to think of it is, that by benefiting from public goods (roads, law enforcement, health regulations) already in existence you and your family have already entered into a social contract with the government, which acts as a representative of the collective will of all people towards a more perfect union, and in which payment is due for the benefits you have obtained.
See:
https://en.wikipedia.org/wiki/Tragedy_of_the_commons https://en.wikipedia.org/wiki/Tragedy_of_the_commons
https://en.wikipedia.org/wiki/Self-serving_bias https://en.wikipedia.org/wiki/Self-serving_bias
https://en.wikipedia.org/wiki/Social_trap https://en.wikipedia.org/wiki/Social_trap
https://en.wikipedia.org/wiki/Bounded_rationality https://en.wikipedia.org/wiki/Bounded_rationality
https://en.wikipedia.org/wiki/Prisoner%27s_dilemma https://en.wikipedia.org/wiki/Prisoner%27s_dilemma
https://en.wikipedia.org/wiki/Social_contract https://en.wikipedia.org/wiki/Social_contract
- GreenJelloShot 7y ago> People don't always make the rational choice for long term benefits when there are short term gains to be had. Individuals, thanks to bounded rationality, tend to seek satisfactory solutions, not optimal ones. It takes coordinated effort to find optimal solutions. Translation: People are stupid and need to be forced to do the right thing. (Where the "right thing" is defined by the current people in charge.)