Daniel Kahneman is an author and a scientist at the University of MIT. He has researched behavioral economics for 30 years and 5 years ago, he got Nobel Prize in the economy. He experimented with 100 people over and over. There were 2 people there, they had the different role each other. The topic was: one person was given 20 dollars by them ( Experts) and that person had to share that money with another person but there was no limit. Another person knew everything. I'll give names to them, 1. person's name is X, 2.person's name is Y. X offered 1 dollar to Y. Normally, according to the classic economy, Y should have accepted that proposal but Y rejected that. Why? Y thought, if I accept that money then X will get 19 dollars, that is why I will reject his proposal. Briefly, Y thought selfishly. It is normal because people always think the same way. It is behavioral economics. All of the friend influence with their buying goods all the time. Someone is buying a new model phone and then everyone wants to buy these phones. Therefore, social status is the very strong effect on people.
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