Behavior, Economics, Models, and Humans
Behavior, Economics, Models, and Humans
H/T Hart GA
Economist Richard Thaler visited Google's office in Cambridge, MA to discuss the topic "The Behaviorializing of Economics: Why Did It Take So Long?".
The talk is an introduction to his book "Misbehaving". He points out that economic models are based on ideal entities he calls "econs". But maybe economic choices are made by entities we might call "humans".
Misbehaving: The Making of Behavioral Economics
Amazon Review Link >> http://goo.gl/gtGfhB
#economics #models
Originally shared by Hart GA
Economist Richard Thaler visited Google's office in Cambridge, MA to discuss the topic "The Behaviorializing of Economics: Why Did It Take So Long?".
The talk is an introduction to his book "Misbehaving". He points out that economic models are based on ideal entities he calls "econs". But maybe economic choices are made by entities we might call "humans".
Misbehaving: The Making of Behavioral Economics
Amazon Review Link >> http://goo.gl/gtGfhB
#ReadMore #Economics #Behavior #econs #Modeling
H/T Hart GA
Economist Richard Thaler visited Google's office in Cambridge, MA to discuss the topic "The Behaviorializing of Economics: Why Did It Take So Long?".
The talk is an introduction to his book "Misbehaving". He points out that economic models are based on ideal entities he calls "econs". But maybe economic choices are made by entities we might call "humans".
Misbehaving: The Making of Behavioral Economics
Amazon Review Link >> http://goo.gl/gtGfhB
#economics #models
Originally shared by Hart GA
Economist Richard Thaler visited Google's office in Cambridge, MA to discuss the topic "The Behaviorializing of Economics: Why Did It Take So Long?".
The talk is an introduction to his book "Misbehaving". He points out that economic models are based on ideal entities he calls "econs". But maybe economic choices are made by entities we might call "humans".
Misbehaving: The Making of Behavioral Economics
Amazon Review Link >> http://goo.gl/gtGfhB
#ReadMore #Economics #Behavior #econs #Modeling
Thaler has an interesting perspective on "econs" and their "expressive thoughts"
ReplyDeleteHart GA Listening now. :)
ReplyDeleteNice presentation, I had to stop watching because my mobile battery is running low. This talk also reminds me bitcoin mining problem because its involve two trick elements, energy prices and market value. Miners suppose to switch off their equipment if the cost to mining is lower than the value of bitcoin in the market. Although we often had observed mining at loss behaviour. I wonder if a analogie could be done to petrol prices.
ReplyDelete