Archivio per 2 dicembre 2015

02
Dic
15

All the Signs That Economics Is a Lost Field – Evonomics

See on Scoop.itBounded Rationality and Beyond

Economists are divided on both fiscal and monetary policy, the most important economic issues of the day. The divide is on the direction of policy, not on some detail. A field cannot be more lost than to be clueless on its most important issues. This is the equivalent of Lewis and Clark disagreeing on whether they are going to the Mississippi or the Pacific. When you don’t know east from west, you are lost.

The fiscal policy question is the impact of government deficits and debt on the size of the economy. A concrete fiscal question is to determine the impact of an additional dollar, or trillion dollars, of spending and debt by the US federal government. In economic parlance if the government spends an additional $1, and borrows the $1, what is the impact on the economy?

The answer depends on whom you ask. Keynesian economists believe the $1 of extra spending is ‘stimulus’ that gets multiplied to become something more than $1. On the other extreme, some economists believe that the $1 has to come from somewhere. If the government uses the $1 to create, for example, an IRS Star Trek video (click here), then the additional spending makes the society poorer, because the $1 would have been used better by the private sector.

 

See on evonomics.com

02
Dic
15

TED Talks on Behavioral Economics

See on Scoop.itWith My Right Brain

here you go peeps, run these in the background this morning and i’ll guarantee your mind will be reeling for the rest of the week 🙂

Dan Ariely asks, Are we in control of our decisions? – http://www.youtube.com/watch?v=9X68dm92HVI

Dan Ariely: Why we think it’s OK to cheat and steal (sometimes) – http://www.youtube.com/watch?v=nUdsTizSxSI

Barry Schwartz: The paradox of choice – http://www.youtube.com/watch?v=VO6XEQIsCoM

Dan Gilbert: Why are we happy? Why aren’t we happy? – http://www.youtube.com/watch?v=LTO_dZUvbJA&feature=channel

Daniel Kahneman: The riddle of experience vs. memory – http://www.youtube.com/watch?v=XgRlrBl-7Yg

Sendhil Mullainathan: Solving social problems with a nudge – http://www.youtube.com/watch?v=XBJQENjZJaA

Rory Sutherland: Sweat the small stuff – http://www.youtube.com/watch?v=dkLcwHmnPV4

02
Dic
15

Evolving Foraging Behaviors of Virtual Creatures in a Simulated Ecosystem

See on Scoop.itCenter for Collective Dynamics of Complex Systems (CoCo)
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Center for Collective Dynamics of Complex Systems (CoCo) Seminar Series December 2, 2015 Nesrine Ouannes (Computer Science, University of Biskra, Algeria) “Evolving…

See on vimeo.com

02
Dic
15

Democracy-Growth Dynamics for Richer and Poorer Countries

See on Scoop.itPapers

We study the empirical relationship between democracy and growth using grid-based panel regression and regime-transition frameworks. Our set-up nests several existing approaches, such as Barro (1996) and Gerring et al. (2005), and reconciles their conflicting messages in a more general model, and we identify the best-fitting discounts and memories. Our main finding is that democracy –best-modelled as a stock variable– does cause growth, especially beyond the immediate short-run, by enabling the accumulation of physical, human, social and political capitals. Beyond threshold levels of democratic and economic development, however, there are incentives for de-democratization in order to boost short-run growth at the cost of higher sustained long-run growth.

Democracy-Growth Dynamics for Richer and Poorer Countries

Heinrich H. Nax, Anke B Schorr

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2698287

See on papers.ssrn.com

02
Dic
15

» Can psychology help reduce the gap between the rich and poor kids? | The Behavioural Insights Team

See on Scoop.itBounded Rationality and Beyond

Robert Putnam, Harvard Professor and author of Bowling Alone and several other important works, came in to BIT last week to discuss his new book – Our Kids. His latest work reflects on the growing gulf between the lives and expectancies of the rich and poor youth in today’s America. It has already attracted widespread attention in the USA, not least among several of the leading Presidential candidates.

Putnam opens his case by contrasting the greater opportunities available to his grand-daughter with that of the grand-daughter of a lower middle-class schoolmate from his own childhood. Taken alone, it is a shocking contrast. But when situated in his trademark wall of graphs that shows that this example is not a one-off, it is breath-taking.

He shows how the gap has grown across a wide range of measures, not just educational attainment but: time spent with parents; enrichment expenditure; participation in extracurricular; having family dinners together; and even social trust (see last week’s blog). For example: while children with parents from all backgrounds spent a similar amount of time with their parents in the 1960s, today more affluent parents (those with degrees) spend 40 minutes a day more with their children than those whose parents are just High School educated. Over a childhood, that’s roughly a year of full-time attention difference, leaving aside important qualitative differences such as words spoken and quality of interaction, or degree of focus undistracted by other worries.

See on behaviouralinsights.co.uk




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