Suppose You Observe a Vendor Selling Peanuts Just Outside the Ballpark

question 21

Essay

Suppose you observe a vendor selling peanuts just outside the ballpark for $1.00 a bag.
Inside the ballpark, vendors are selling peanuts for $3.50 a bag. You take orders from
those sitting around you, quoting a price of $2.00 a bag and collecting the money in
advance. You then go out to the street vendor and purchase enough bags for $1.00 to
fulfill the orders and use your ticket stub to re-enter the ballpark. Is this an example of
an arbitrage or is it just a "great bet"?

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Definitions:

Personal Character

Personal character refers to the combination of traits and qualities defining an individual's ethical, moral, and personal identity.

Principled Moral Level

Refers to a stage of ethical development at which individuals make decisions based on universal ethical principles, prioritizing justice and rights.

Ethical Decisions

Choices made based on moral principles and values, especially relevant in professional settings to ensure fairness, integrity, and respect.

Cooperative Acceptance

The right of employees to be treated fairly and with respect regardless of race, sex, national origin, physical disability, age, or religion, while on the job.