The Price of Disgust – Freakonomics – Opinion – New York Times Blog:
“But most people do not think like economists. When offered 10 percent or 20 percent or even 30 percent of the total, they are disgusted by the inequity — and willing to pay the price for that disgust by rejecting the offer.”
(Via Freakonomics – Opinion – New York Times Blog.)
Talk about “bounded rationality!”