We hate losses about twice as much as we enjoy gains, meaning we are more likely to act unethically to avoid a loss than to secure a gain. This phenomenon is known as loss aversion.
Ethics Unwrapped Blog
Financial journalist Bethany McLean has co-written two of the best books on recent financial scandals—The Smartest Guys in the Room about the Enron debacle and All the Devils Are Here about the subprime mess. In her blog, McLean recently addressed the question: “Does Jailing Executives Make Much Difference?” Judging from public reaction, jailing white collar […]