Interesting and Humour - page 998
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Taking money away from an MBA student is easier than taking a lollipop from a child. By the time they graduate, it is usually no longer necessary - they start throwing money around on their own. Although it is inhumane to make fun of people who are clearly mentally challenged - this story about MBA students deserves to go into the public domain.
Every year Professor Max Bazerman sells MBA students from Harvard Business School a twenty-dollar note well above face value. His record is a sale of $20 for $204. And he does it in the following way.
He shows the note to the class and tells them that he will give $20 to the person who gives the most money for it. There is, however, a small condition. The person who was right behind the winner will have to give the professor the amount he was willing to give for $20.
To make it clearer - let's say the two highest bids were $15 and $16. The winner gets $20 in exchange for $16, and the second person would have to give the professor $15. These are the conditions.
Bidding starts at one dollar and quickly reaches $12-$16. At this point, most students drop out of the auction and only the two people with the highest bids remain. Slowly but surely the auction reaches the figure of $20.
It is clear that one cannot win, but one doesn't want to lose either, for the loser not only gets nothing, he will have to pay the professor the face value of his last bid.
As soon as the auction crosses the $21 mark, the class bursts into laughter. MBA students, supposedly so smart, are willing to pay above par for a twenty-dollar note. Indeed -comical and very aptly describes the behaviour of MBA holders.
However, the auction goes on and quickly reaches $50, then a hundred, all the way up to $204 - Bazerman's record for his teaching career. Incidentally, during his training sessions, the professor does the same trick with top managers and CEOs of large companies - and always sells $20 above face value (the money raised is spent on charity).
Why do people invariably pay more money for twenty dollars, and what is the professor trying to show?
Humans, especially in business, have a weakness - loss aversion or fear of loss. Numerous experiments show that people behave extremely irrationally and even inadequately when they start to lose money.
At first all students think that they have an opportunity to get free money. After all, they are not fools and will not pay more than twenty quid for a twenty-dollar note. However, as soon as the bidding reaches $12-$16, the second person realizes that he is in danger of losing a lot, so he starts bidding more than he intends to, until the auction reaches $21. At this point both bidders will lose money. But some will only lose a dollar, and some will lose twenty. To minimise losses, each person tries to be the winner. However, this race only results in both bidders losing more and more money, until the size of the losses reaches such an amount that it simply does not make sense to dig the hole any deeper.
Thus, the desire to get a free twenty turns out to be a loss. Best of all, there is a wealth of data - especially in the stock market and casinos - that shows the Bazerman phenomenon in action. A person begins to lose money. Instead of fixing the loss, he hopes he can win back the loss - and almost always loses more and more money.
Moral: Take your losses while they are small. And never trust money to someone with an MBA :)
The corporation explains that usage of the service has declined in recent years. Users will be able to export their data, primarily subscriptions, through a special service.
The closure of Google Reader was announced during the regular "spring cleaning", which Google conducts every few months. In addition to RSS-reader, the corporation will close seven other products in the coming months.
In particular, on June 1, will be removed application Google Building Maker, which allows you to create 3D models of buildings for cartographic services of Google Maps and Google Earth. In March, the corporation will stop support for Google Voice application for smartphones BlackBerry and photo editor Snapseed for Windows and Mac OS X.
In April, the Google Cloud Connect add-on, which lets users store Microsoft Office documents in the cloud, will be discontinued. The corporation is proposing to use Google Drive instead. The other three products, scheduled to close on September 16, were for developers.
Sashka, put the fish back.
There it is, the bear philosophy, in all its glory. Squeeze!
Fish from the fisherman, caviar from the salmon, honey from the bees.
They don't want to do anything themselves, they either suck it or squeeze it.
A little bee spends miles from dawn to dusk, ploughing its wings, making honey, so it has something to winter with, something to feed its children... And this cunt sleeps through the winter, then scoops up other people's honey with his dirty paws and eats it at full blast - it is understandable, the honey for free is twice as sweet! And all for what? To go back to sleep all winter long! A parasite, in a word, no good. Not a word about the poor salmon: it'll ruin its belly, it'll eat the roe, and the poor fish will die... And not out of hunger, but because he decided to eat his caviar. Porker.
The little bee travels kilometres from dawn to dusk, ploughing its wings, making honey so that it has something to feed its children for the winter.
I cry . Eat honey and cry, and the more you eat, the more you cry.
Put the fish back in its place.
Here it is, the bear philosophy, in all its glory. Squeeze!
...
I guess there's a reason for the Unicorn logo: )))
I cry . Eat honey and cry, and the more I eat, the more I cry.
Put the fish back in its place.
I guess there's a reason for the Unicorn logo: )))
I guess there's a reason for the Unicorn logo: )))
Nah. It was like this. When they created the goat party, they drew the logo right away.
Putin came in and said cut the balls off, head first. They redid it.
Then they said he was gay, like most members of the party. But it had to be redone. We did.
Then they said that now it should be wrapped in something kind, soft, light and Russian. Well, of course it's a bear.
...