Lying - Module 7

Question 1

Characterise consequentialism

Answer 1

Actions should be evaluated solely on their consequences. Ends justifies the means

Question 2

Characterise utilitarianism

Answer 2

Maximising total happiness of all affected individuals

Question 3

Characterise principle-based ethics

Answer 3

Focus is on duties and principles, not outcomes

Question 4

Characterise parasitic value creation

Answer 4

Creating value by ignoring the unethical treatment of parties not at the table

Question 5

What is bounded ethicality?

Answer 5

The idea that individuals have limits to how ethical their behaviour is likely to be when considering themselves, even if they believe they are acting ethically

Question 6

What facilitates bounded ethicality?

Answer 6

Motivated reasoning

Question 7

How can seeming “mad” benefit you?

Answer 7

Makes threats credible if you claim to have extreme preferences
Creates potential risk which may influence other parties’ actions in your favour

Question 8

What is the main cost of behaving “mad”?

Answer 8

Reputational effects

Question 9

What are the four main concerns in bounded ethicality?

Answer 9

Conflicts of interests
Discrimination
Parasitism
Overclaiming credit