we, the people, who make mistakes–economists included

Andrew Gelman discusses a “puzzle that’s been bugging [him] for a while“: Pop economists (or, at least, pop micro-economists) are often making one of two arguments: 1. People are rational and respond to incentives. Behavior that looks irrational is actually completely rational once you think like an economist. 2. People are irrational and they need … Continue reading we, the people, who make mistakes–economists included

to each their own addiction

An only slightly fictionalized story, for my long-suffering wife. “It’s happening again,” I tell my wife from the couch. “I’m having that soul-crushing experience again.” “Too much work?” she asks, expecting the answer to be yes, since no matter what quantity of work I’m actually burdened with at any given moment, the way I describe … Continue reading to each their own addiction