Cass Sunstein is a law professor who worked in the Obama White House. He dealt with matters of regulation, and has a keen interest in how (generally bad) program design and administration prevents action, e.g., sludge. He also is an expert on behavioral economics — he wrote Nudge with Richard Thaler. The idea of sludge…
Category: Decision Making
What If I’m Wrong?
The Population Bomb shared Paul Ehrlich’s predictions about the future. After his doom-laden warnings about mass starvation and the need for population control, by compulsion if necessary, Ehrlich asked, “What if I’m wrong?” What if his Malthusian thinking is a mistake? (See here for Malthus). The author was trying to make the point that it…
Just Say No
Vanessa Patrick is a marketing professor at the University of Houston. She used to be at the University of Georgia, where I now am, but that was before my time. (One of her stories in her book, The Power of Saying No, does involve an Athens, Georgia restaurant. The restaurant was meaty, so not really…
Zero Sum Thinking
Heather McGhee has a popular book on the problem of zero sum thinking. Her specific focus is on racism in the US. The argument is quite simple. Racism prevents policies that would benefit everyone. Zero Sum Thinking People often have a tendency to think of the world as having a fixed amount of a certain…
Epidemiological Transition
A second post on Angus Deaton’s The Great Escape. Here I discuss the epidemiological transition that he notes. There is a general movement in the way disease tends to afflict a country (and indeed across the whole world). The problems of disease, what the diseases are, and who they target, have a distinct pattern. Epidemiological…
Must Firms Maximize Shareholder Value?
What is the purpose of a firm? Given we have so many firms and business schools are such a sizable chunk of many universities, you might think that we all agree what firms are for. You would be wrong. There is a surprising amount of disagreement as to the purpose of firms. What are they…
People Aren’t Getting Worse
Ever since I was in secondary school (high school in US terms) I have thought it is bizarre that people think that humans are getting worse. Adam Mastroianni and Dan Gilbert wrote a paper in Nature on this phenomenon which they call The Illusion of Moral Decline. In many ways, they have written the paper…
Clear Data-Driven Stories
Scott Galloway has a book on where the US is currently. He provides a useful example of clear data-driven stories. A Famous Marketing Professor Galloway is a marketing professor and as such I am naturally supportive. It is great that he is famous and appears in the media so much. I’m all for it. We…
Do People Vote With Their Wallets?
One of the classic problems in understanding voter behavior is whether people vote with their wallets. Bascially, do voters make choices that depend heavily upon their own economic self-interest? Like almost any social science question you are never going to get 100% compliance with any idea. One can almost certainly find someone who calculates what…
GMOs Forget The Science
Scientists including biologists, medical doctors, and geneticists have many wonderful qualities. Yet, if the public policy response to Covid-19 taught us anything it was that some people who are great in their scientific fields have communication problems. This isn’t just a shame. It often undermines everything that they are trying to do. I see a…
