In which I “attack old-fashioned economics,” i.e. utility maximization, by Nick Krafft: At an off-campus discussion toward the end of my senior year of college, the topic of behavioral economics came up. Leading the discussion was a professor of mine, David Ruccio- whose blog I link to regularly- who argued that to really move forward with these iconoclast ideas, we still have to get rid of the max u thing- it’s holding everything back. I didn’t really agree with him at the time, or I just didn’t know, but a recent panel I attended helped clarify why Ruccio, and other heterodox economists before him, are right, even if the panelists themselves don’t want to see it it or admit.
Comments, observations and thoughts from two bloggers on applied statistics, higher education and epidemiology. Joseph is an associate professor. Mark is a professional statistician and former math teacher.
Friday, April 30, 2010
Prelinking Nick Krafft
When I get my thoughts on the subject sorted out I plan to write some posts on maximum utility and fitness landscapes. When I do, I'll certainly want to link to this post I saw on Economist's View:
Posted by Mark at 11:12 PM
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