Wednesday, May 21, 2008

What I Learned Today, Email To Sam, And Thoughts On Experimental Economics

Sam said I needed to expand on these, but expansion is overrated.

1. Being professional and organized are the keys to success. It is all about time management and getting something done everyday.

2. Someone needs to really reexamine experimental economics. Levitt and List (2007) tried to do this, but they miss the point. Field experiments are as uninteresting and uninformative as laboratory experiments and econometric analysis on revealed preferences. McCloskey's rhetoric argument comes to mind. We are all telling stories. The beauty of stories is that at the end the reader defines what the moral (meaning) is.

3. I readily admit I am an idiot, but "bias" has no relevance in economics. This is also a big problem with experimental economics. The experimenter has to define "bias." This makes "bias" subjective.

4. I want to be an applied economist. I want to apply the "economic way of thinking" to relevant problems. Yes, "economic way of thinking" and relevant are subjective.

I will settle for a job that pays well and has good benefits.

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