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Polly worked as a bartender. A few people used to wave money at her so that she would serve them first. She found this to be rude and, hence, either ignored them or always served them last. People came to realize that she served only the people who waited politely, and much of the rude behavior stopped. Polly used the model of __________.
Fairness
A person’s opinion as to whether a price, wage, or allocation is considered morally or ethically acceptable.
Maximize Profits
The process or strategy of adjusting production, pricing, and other operational variables to achieve the highest possible financial gain.
Time Inconsistency
The tendency of people to change their plans about future actions because of a change in their immediate preferences or circumstances.
Automatic Payroll Deductions
A system where amounts are automatically subtracted from an employee's paycheck by the employer for taxes, benefits, and other financial obligations.
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