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Ernst Fehr (born June 21, 1956 in Hard, Austria) is an Austrian behavioral economist and neuroeconomist and a Professor of Microeconomics and Experimental Economic Research, as well as the vice chairman of the Department of Economics at the University of Zürich, Switzerland.His research covers the areas of the evolution of human cooperation and sociality, in particular fairness, reciprocity and bounded rationality.Think carefully about inviting us back after a first date – Yes, we might well ask you but that doesn’t necessarily mean we want you to say yes.

Fehr is an honorary member of the American Academy of Arts and Sciences, a member of the American Academy of Political and Social Sciences and visiting professor at the Massachusetts Institute of Technology.We show empirically that economists can fail to understand fundamental economic questions when they disregard social preferences, in particular, that without taking social preferences into account, it is not possible to understand adequately (i) effects of competition on market outcomes, (ii) laws governing cooperation and collective action, (iii) effects and the determinants of material incentives, (iv) which contracts and property rights arrangements are optimal, and (v) important forces shaping social norms and market failures.He conjectures that we could call economics "the dismal science" because it consistently assumes the worst in human motives, which contrasts sharply with the pervasive idea that consumer tastes are heterogeneous. First, because a great amount of evidence has contradicted the selfishness hypothesis; second, because failure to regard other-concerning behavior ignores central market activities.Never empty your glass – You might be shaking like a leaf and nothing would settle your nerves more than to knock back the glass of wine on your table, but trust me, it’s not worth it.If you want to stay in control of the date and keep him interested then take it easy and don’t overindulge.

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