Study shows why stingy people are untrustworthy

first_imgThere may be a new link between generosity and trustworthiness according to new research conducted by Oxford University.The research looked into the signals we rely on to decide who is trustworthy, with findings showing that we tend to distrust those who are stingy with their money. The study claimed that stingy people were also more likely to lie about their generosity to present themselves in a better light.The researchers set up an experiment in which participants played interactive games in which they had to decide who to trust, based on information about the generosity of other players in previous games.Researcher Dr. Wojtek Przepiorka, from the Department of Sociology at the university, said, “When acts of generosity occur naturally with no concern for how they are perceived by others, they can be effective signals of trustworthiness. Charity balls are places where people can openly display their generosity, but in this case because people know they are going to be observed, this might be a strategic gesture and less telling of their true character.“We regard acts of genuine generosity as those produced spontaneously and these are widely seen as a reliable indicator of trustworthiness, even when they are small gestures.”Professor Diego Gambetta, an Official Fellow at Nuffield College commented, “Our experiments showed that cheating comes in clusters- a large portion of people who were mean were also prepared to lie about it, and those who lied were much more untrustworthy, as if one sin promotes another. It appears that people widely regard generosity and trustworthiness as being “cut from the same cloth” as far as human characteristics are concerned.“However, some people display generosity when it is likely to be in their own advantage. In our experiments, we also find that those who are guilty of ‘strategic’ displays of generosity themselves are more likely to spot strategic generosity in others.”One first year student from New College noted, “This is interesting research, though I’m not too sure how applicable it is in real life.”Another said, “I am slightly concerned that this study has jumped to conclusions too quickly. There could be other factors that the study has failed to consider.”last_img read more

Bank Indonesia records Rp 11t outflow amid coronavirus fears

first_imgDody added that the central bank’s policy path would depend on the latest developments, adding that BI would intervene if the virus disrupted the country’s economy.BI has injected about Rp 25 trillion into the country’s financial markets amid a sell-off over fears that the rapidly spreading novel coronavirus would hurt the global economy.BI Governor Perry Warjiyo said on Wednesday that the central bank had been buying government bonds in the market to stabilize prices and liquidity as the coronavirus scared off foreign investors.“Do you know how many bonds we have bought from the government with the heavy capital inflow this year? The figure is close to Rp 25 trillion,” Perry said during his remarks at the Mandiri Investment Forum in Jakarta. The rupiah had weakened 0.3 percent against the US dollar to Rp 13,675 as of Friday afternoon. The currency has appreciated about 1.6 percent against the greenback so far this year, Bloomberg data shows.As of Friday afternoon, the 2019-nCoV virus had infected more than 31,400 people across the globe and had killed 638. The spread of the pneumonia-like illness has forced businesses in China to stop or limit their operations amid lockdowns in dozens of provinces.The cooling business activity in the world’s second-largest economy has spurred investors to seek safer assets and leave emerging markets, such as Indonesia.The local stock market has still managed to record a net foreign buy of about Rp 176 billion as of Friday despite the Jakarta Composite Index falling 4.76 percent so far this year. The novel coronavirus outbreak has pushed investors to leave the country’s financial markets, resulting in a foreign outflow of about Rp 11 trillion (US$805.9 million) last week, which has put pressure on the rupiah, a central banker has said.Despite the hefty outflow, Bank Indonesia (BI) has recorded an inflow of Rp 400 billion so far this year.”The outbreak has adversely affected financial markets worldwide as it is also pressuring the rupiah, although the currency appreciated on Thursday,” BI deputy governor Dody Budi Waluyo told reporters in Jakarta.center_img Topics :last_img read more

US 36, Bethany Fairgrounds go with IMCA in 2018

first_imgOSBORN, Mo. – A pair of 3/8-mile ovals in Missouri have announced plans to sanction with IMCA in 2018.IMCA Modifieds, IMCA RaceSaver Sprint Cars, IMCA Sunoco Stock Cars and Karl Chevrolet North­ern SportMods will be featured Friday nights at US 36 Raceway in Osborn.The Modifieds, Stock Cars and Northern SportMods vie every other Saturday at Bethany Fairgrounds, 45 minutes to the north at the Northwest Missouri State Fairgrounds.“Everybody wants two places to race and our drivers will be able to run for IMCA national, re­gional, state and track points at both Osborn and Bethany,” noted promoter Jon Boller Jr. “I raced IMCA for years. I think it’s best for my drivers and I think it’s best for these two tracks.”“Cost was one of the most important factors in our decision to sanction with IMCA,” added, who promoted weekly events at US 36 and specials at Bethany this year. “The rules package for each of these divisions make them affordable as well as competitive.”Both tracks are part of IMCA’s Jet Racing Central Region for Modifieds and EQ Cylinder Heads Northern Region for Stock Cars.Opening night at US 36 is now scheduled for April 6, with a RaceSaver Sprints headlining and Power I non-wing sprints running in support at the April 14 Sprint Car Spring Nationals. The IMCA Speedway Motors Weekly Racing point season would end on Aug. 31.Opening night at Bethany is likely in May, with the complete schedule yet to be determined.last_img read more