Liar, Liar

Media Type: Film Clips Topic: Incentives, Behavioral Economics

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Jim Carrey, a compulsive liar, is forced to tell the truth for 24 hours after his son makes a birthday wish. In this scene he is stopped for speeding and ends up telling the cop that he also ran a red light, failed to yield at a crosswalk, and that he has many unpaid parking tickets. He ignores most traffic laws because he is always running late and hence his behavior reflects his short-run incentive to try to make up time by driving faster. This is a good starting point for a discussion of the economics of crime. 

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