Economics 102 with Prof Abhijit Banerjee [S2 Ep.31]
Conversations With Coleman
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Is There a Point Where Economists Really Expected the Full Range of Human Behavior to Be Fully Explained by Financial Incentives?
Is there a point where economists actually expected the full range of human behavior to be fully explained by financial incentives? I think people always knew in their hearts that this was not true, but i think it was a good device because it went with a lot of policy prescriptions. And once you wade into the world where people have complicated preferences and, you know, some things other than money matter, then all kinds of interventions are needed. For example, just in the context of what we are talking about, isth usually conomis sawel. Why would we support a dying community? But, and shouldn't they all move to ajo places where they can earn more, will be more
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