Ultimatum Game I recall Warren Buffet remarking on something similar:
“I always look at IQ and talent as representing horsepower of the motor, but then in terms of the output, the efficiency with which the motor works, depends on rationality. That’s because a lot of people start out with 400- horsepower motors and get a hundred horsepower output. It’s way better to have a 200 horsepower motor and get it all into output. So why do smart people do things that interfere with getting the output they’re entitled to? It gets into the habits, and character and temperament, and it really gets into behaving in a rational manner. Not getting in your own way.”