Economists tell stories about how people behave. The setup is always the same: an actor is confronted with a choice and must make a decision. Should he (it’s usually a he) take a quick, assured return or wait for a less certain but larger payofff? Should he place his trust in another actor and collaborate for a larger joint profit, or act alone to make sure he is not cheated, so that at any rate he comes away with something? When he’s played the same game for a long time, will he keep paying attention as the next decision comes?
"Fairy-Tale Economics: Scarcity, Risk, Choice,"
1, Article 2.
Available at: http://digitalcommons.wayne.edu/narrative/vol2/iss1/2