Monthly Archives: November 2008
The Normative Claims of Behavioral Economics
It is often unstated, but nonetheless true, that the fundamental normative claim of behavioral economics is that people should be rational. The guiding aim of every “nudge” is to make neoclassical economics true.The behavioral economic utopia coincides with the neoclassical. Insofar … Continue reading
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Romanette (i) and (ii)
Eugene Volokh points to a lexicographically riveting exchange at oral argument before the Supreme Court: MS. SAHARSKY [of the Solicitor General's office]: What I’m suggesting, Your Honor, is that the “that” refers to everything that is in Romanette (i) and … Continue reading
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To What Extent Does Behavioral Economics Explain Mania in Finance?
I say very little, but I’m willing to be convinced. One very implausible, but popular line of reasoning runs along these lines: neoclassical economics assumes every agent is rational and fully informed; the euphoria inflating the real estate bubble was … Continue reading
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Paulson Yells Mulligan On Bailout
The New York Times demands a two stroke penalty on TARP (The Act Rewarding Plutocrats). Gretchen Morgenson reports: While the government still declines to say exactly how it has spent your funds, or who all the beneficiaries are, Mr. … Continue reading
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Does Democracy Corrode Moral Character?
Yes, and I’ll offer a few points as to why. Consider it the flip side to the forum hosted by the Templeton Foundation on a different, though also important, question. They ask whether liberty corrodes moral character; I take it … Continue reading
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Radical Chic and Mau-Mauing The Incredible Hulk
Yes, it’s true, Tom Wolfe used to appear in Marvel comic books.
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Gladwell on Capitalization Rates
Another riveting talk from Gladwell on unexploited potential.
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The Science of Push and Pull
Two fascinating articles. First, the mysterious push. Princeton chemists and biologists have discovered an engine within the mitochondria that serves to push organisms towards greater evolutionary fitness. The press release is a bit opaque, but the men in New Jersey … Continue reading
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The Knobe Effect
Thought provoking video demonstrating the so called Knobe Effect, a strange intuition we have about ascribing intentions to actors.
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Dionysian Yea-Saying
Through the lens Mad Men provides, we get a magnified view of rectilinear office norms. It’s part of the shows appeal. But contrast that staid atmosphere with today’s office weltanschauung at the internet start ups founded by freewheeling freebooters. I … Continue reading
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