n e u f n e u f: do the math

11 March 2011

do the math

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Harvard Business School professor Max Bazerman was speaking to a conference of 75 Wall Street power-players, guys commanding six-to-seven figure incomes for managing your money.

Max opened by auctioning off a $100 bill. Simple rules: The highest bidder gets the $100 bill. And the second highest pays what he bid, but gets nothing. Forty hands quickly pushed the bidding to $95. Then a couple presumably rational hot-shots, an institutional money manager and a pension-fund trustee, broke the $100 barrier, after which both were guaranteed losers.

Imagine the insanity: Two of America’s financial geniuses caught up in a hotly contested duel, pushing the bids up, up, up … to $465!

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love, 99
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2 comments:

Bluebear23/11/11, 7:40 AM
OMG...

That's where they get it...

465% less!
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wimpy3/11/11, 9:26 AM
LOL

I knew that one would blow yer mind.
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11 March 2011

do the math

2 comments:

maybe this will search

or roam around in my weekly archive

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