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Several Webster Groves police officers called in sick-one after the other. As the dispatcher took the calls, she thought there could be more to this story than she was hearing. In fact, she thought it might be related to the discussion she heard in the break room last night. Several officers were leaving their shifts and were not happy with the recent changes in scheduling, the excessive overtime hours, and management's reluctance to begin negotiations on a new benefits package. She even heard one officer saying, "It's time for a mental health day!" Although it is illegal for police to strike, what the police dispatcher was witnessing may have been
Ultimatum Game
A game in experimental economics where a proposer is given a sum of money to split with a responder; if the responder rejects the offer, both players get nothing, highlighting negotiation and fairness perceptions.
Invisible Hand
A metaphor introduced by Adam Smith to describe the self-regulating nature of the marketplace, where individuals' pursuit of self-interest inadvertently benefits society at large.
Neoclassical Economists
Economists dedicated to analyzing how goods, outputs, and distribution of income in markets are dictated by supply and demand forces.
Ultimatum Game
A game in economic experiments where one player proposes how to divide a sum of money with another player who can accept or reject the proposal.
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