Sublime

Banking, done in the proper German fashion, is less a free enterprise than a utility. “Why should you pay twenty million to a thirty-two-year-old trader?” Müller asks himself. “He uses the office space, the IT, the business card with a first-class name on it. If I take the business card away from that guy he would probably sell hot dogs.” This man

Second, those who hold return-seeking capital assets but who do not lever up are comparatively disadvantaged if their competitors do.

Pero ¿qué era lo que todo el mundo llamaba «aversión al riesgo»? Venía a ser un precio que la gente pagaba de forma voluntaria para evitarse el arrepentimiento: una prima de arrepentimiento.

(Boltanski & Chiapello 2005; Boltanski & Thévenot 2006).

That which is recognizable or apparent is often given too much credit, whereas the real answer often lies concealed. Incentives are powerful motivators and predictors of how athletes, coaches, owners, and fans behave—sometimes with undesirable consequences. Human biases and behavior play a pivotal role in almost every aspect of life, and sports are

standard economic theory,

“Setting our prices is easy,” a marketing director at a safety products company once told me. “We just look at what the premium supplier in our market does, and come in 10 % below them.”