Index Investing News
Wednesday, April 1, 2026
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Usefulness of a Non-Lying Strategy: Two Examples

by Index Investing News
March 13, 2023
in Economy
Reading Time: 3 mins read
A A
0
Home Economy
Share on FacebookShare on Twitter


There is a rational, self-interested reason to choose a strategy, and establish a reputation, of non-lying. This idea been recently illustrated by the condemnation of Alex Murdaugh for the murder of his wife and son, and by Sergei Lavrov, the foreign minister of the Russian government during a conference in India.

The theory is that if one follows a strategy of non-lying and succeeds establishing his reputation for telling the truth, he is more likely to be believed in the future. And to be believed and trusted is useful in any social relation.

I have no special insight about the trial and condemnation of Alex Murdaugh, scion of a family of prosecutors and himself a former part-time prosecutor in South Carolina. And I have no reason to question the jury’s verdict. My point is that the jury had reasons to doubt Murdaugh’s testimony in his own defense if only because he repeatedly admitted that he had lied in several other occasions (see “Alex Murdaugh’s Trial Lasted Six Weeks. Two Days Mattered Most,” Wall Street Journal, March 3, 2022):

The jurors heard Mr. Murdaugh, turned toward them and in tears, say that he had lied to dozens of people, hundreds of times, but he would not lie to them about the brutal killing of Maggie and Paul, who were both fatally shot at close range.

He told jurors that he lied to law enforcement about his whereabouts the night of the shooting. …

One by one, [the local prosecutor] ticked off a series of dozens of names, asking Mr. Murdaugh if he had lied to that person’s face. With rare exception, Mr. Murdaugh said he had. He admitted to stealing money from friends and clients, including his close friend Barrett Boulware, who was nearly destitute and on his deathbed at the time, and Hakeem Pinckney, a deaf teenager who had been rendered a quadriplegic in a car crash.

As for Mr. Lavrov, as he was answering questions at a conference in Delhi after a G20 meeting, he mentioned that the war in Ukraine had been “launched against us.” The audience reacted with a short burst of laughter, which, for an instant, destabilized even a habitual liar like Lavrov. He is more used to be called “Excellency.” It is worth watching a video of the event—for example the one on the website of the BBC, or one of the many others available on YouTube. The Guardian reports (“Russian Minister’s Claim Ukraine War ‘Launched Against Us’ Met With Laughter,” March 4, 2023):

“The war, which we are trying to stop, which was launched against us using Ukrainian people, of course, influenced the policy of Russia, including energy policy,” he said, briefly stumbling over his words as people in the audience laughed.

If you become known as a liar, nobody will believe you. Lavrov, however, is hired by a state that requires that he lie. The penalty for not lying might be death or at least much discomfort, so his incentives are to try to square the circle: lie each time he is asked to, and try to maintain some credibility outside his den of liars.

Which brings me to my second general point: as game theory and ordinary economic reasoning suggest, the individual’s optimal strategy changes if a critical number of liars is reached in a society. At the limit, there is no reason to tell the truth because nobody will believe you anyway. This result has a bearing on the conditions, including possibly the moral conditions, for the maintenance of a free society. Both Friedrich Hayek and James Buchanan emphasized, from different viewpoints, the moral dimension.



Source link

Tags: ExamplesNonLyingStrategyUsefulness
ShareTweetShareShare
Previous Post

Top analysts are bullish on stocks like Snowflake & Salesforce

Next Post

VAR makes Chelsea error for missing red card foul on Joao Felix

Related Posts

Ritholtz Wealth Management Is Coming to San Francisco!   

Ritholtz Wealth Management Is Coming to San Francisco!   

by Index Investing News
March 28, 2026
0

    Ritholtz Wealth Management is heading west. The week of April 16, 2026, our team will be in San...

The Match That Lit the Flame: Hannah Senesh and the Creation of Modern Israel (with Matti Friedman)

The Match That Lit the Flame: Hannah Senesh and the Creation of Modern Israel (with Matti Friedman)

by Index Investing News
March 24, 2026
0

0:37Intro. Russ Roberts: Today is January 18th, 2026, and my guest is journalist and author, Matti Friedman. This is Matti's...

At the Money: Billionaire Divorce Planning

At the Money: Billionaire Divorce Planning

by Index Investing News
March 20, 2026
0

    At the Money: Divorce Planning for the Ultra Wealthy (March 18, 2026) DESCRIPTION:   Divorce is difficult under the...

The Economics of Scarcity and the UNC-Duke Basketball Game (with Michael Munger)

The Economics of Scarcity and the UNC-Duke Basketball Game (with Michael Munger)

by Index Investing News
March 16, 2026
0

0:37Intro. Russ Roberts: Today is January 4th, 2026, and my guest today is Michael Munger. This is Mike's 51st appearance...

At The Money: Pursuing Alpha through Exchange-Traded Funds

At The Money: Pursuing Alpha through Exchange-Traded Funds

by Index Investing News
March 12, 2026
0

     At The Money: Finding Alpha via Unique ETF Strategies  (March 12, 2026) If you want market performance...

Next Post
VAR makes Chelsea error for missing red card foul on Joao Felix

VAR makes Chelsea error for missing red card foul on Joao Felix

Sammi Sweetheart Giancola Returning to Jersey Shore After 10 Year Absence

Sammi Sweetheart Giancola Returning to Jersey Shore After 10 Year Absence

RECOMMENDED

Frank Advice on What to Do When a Real Estate Investment Goes Wrong

Frank Advice on What to Do When a Real Estate Investment Goes Wrong

November 22, 2022
Lenny Kravitz Describes His Relationship With Channing Tatum – Hollywood Life

Lenny Kravitz Describes His Relationship With Channing Tatum – Hollywood Life

March 21, 2024
Yogi Adityanath’s Election Win Raises His Profile Throughout India

Yogi Adityanath’s Election Win Raises His Profile Throughout India

March 11, 2022
How marginalised are the marginalised in India: Proof from the newest consumption information

How marginalised are the marginalised in India: Proof from the newest consumption information

November 14, 2024
Crypto Providing New Alternatives for Inflation-Anxious Indonesian Buyers; Bitcoin Is Flat

Crypto Providing New Alternatives for Inflation-Anxious Indonesian Buyers; Bitcoin Is Flat

April 5, 2022
Virginia School Shooting Preceded by Series of Lapses, Grand Jury Report Finds

Virginia School Shooting Preceded by Series of Lapses, Grand Jury Report Finds

April 11, 2024
French riots spread in third night of unrest over police shooting

French riots spread in third night of unrest over police shooting

June 30, 2023
how does Temu reply to tariff threats?

how does Temu reply to tariff threats?

February 15, 2025
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In