Category Archives: behavioral economics

Is personality psychology just a baloney sandwich?

I say no, although it is not like physics. We are talking about modest correlations, not strict laws. What made the marshmallow test famous was the follow-up work which suggested that a child’s ability to defer gratification on the test … Continue reading

Posted in behavioral economics, statistical methods | 4 Comments

Me vs. Steven Pinker

In an interview, Pinker says, I’m skeptical about that we’re going to see enhancements of human nature by genetic engineering, nanotechnology, or neural implants (though these technologies may be used to mitigate disabilities, a different matter). We now know that … Continue reading

Posted in behavioral economics, Economics of Education | 11 Comments

McArdle’s Rules for Life

She writes (among other suggestions), Always order one extra dish at a restaurant, an unfamiliar one. You might like it, which would be splendid. If you don’t like it, all you lost was a couple of bucks. …Go to the … Continue reading

Posted in behavioral economics, business economics | 4 Comments

The back-sleep ideologues

This story says, The American Academy of Pediatrics, or AAP, recommends that babies always be placed on their backs to sleep, even for just a nap. I think this is worst advice ever. I don’t find convincing the evidence that … Continue reading

Posted in behavioral economics, links to my essays | 23 Comments

My essay on financial bubbles

For Medium, I wrote on financial bubbles, with plenty of Bitcoin trolling thrown in. it is mathematically impossible for all of the bullish investors to get out with a profit. If a stock goes from $10 a share to $100 … Continue reading

Posted in behavioral economics, financial markets | 3 Comments

Social validation media

Orge Castellano writes, The only purpose of these apps — thriving in the attention economy market — is to trigger our brains into the instant gratification lifestyle, ultimately exploiting our mind’s weaknesses. Whether in the form of a like (Facebook), a binary like/dislike format … Continue reading

Posted in behavioral economics, business economics, Internet | 4 Comments

Nobel Thoughts

1. I think that behavioral economics is over-rated, but otherwise I don’t begrudge the award to Richard Thaler. There have been worse recipients, and there will be worse recipients in the future. 2. I think that Edward Leamer deserves an … Continue reading

Posted in behavioral economics | 1 Comment

Aaron Ross Powell on the X

He emails gotta say, I think you’re completely misreading Apple’s motives for releasing the iPhone X, and so misreading their strategy for the device. The iPhone X is out now, instead of seeing similar features roll out in a year … Continue reading

Posted in behavioral economics, business economics | 7 Comments

Does America over-incarcerate?

Joseph M. Bessette writes, only two fifths of those convicted of felonies in state courts are actually sentenced to prison. Of the rest, about half receive no incarceration (mainly probation) and half are sentenced to a short term in a … Continue reading

Posted in behavioral economics | 29 Comments

Reading our own minds

Thanks to a commenter, I found a paper by Peter Carruthers. metacognition always results from people turning their mindreading abilities upon themselves. By metacognition he means our description of our own mental processes. We call this introspection, although his theory … Continue reading

Posted in behavioral economics | 7 Comments