Comments on: Economists respond to incentives http://blogs.reuters.com/justinfox/2010/10/29/economists-respond-to-incentives/ Wed, 03 Nov 2010 15:52:22 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: bxg5 http://blogs.reuters.com/justinfox/2010/10/29/economists-respond-to-incentives/comment-page-1/#comment-166 Sun, 31 Oct 2010 19:35:55 +0000 http://blogs.reuters.com/justinfox/?p=50#comment-166 I don’t like feeling the need to speak up for the economic profession, but this is seems ridiculous.

“Incentives matter” – if this is a ‘valuable and durable lesson’ then it presumably means more subtle than “some people will sell out their principles and their friends if offered enough”. Because if that’s what you really mean, you’re basically making a none-too-witty claim that economics is worthless (i.e. that their most valuable lesson to us is something the average caveman already was in no doubt about.)

Your point three links to someone angry at being accused (in his mind) of “literally of adopting ideas for pay”. Most academics would be outraged at this. Yet somehow because he works in an area which believes in a far more interesting, subtle, view of “incentives matter” – this is hypocrisy? For the record, the article linked to in #3 seems in my opinion to be thoroughly deranged … but I still think this is an totally superficial, thoughtless, attack.

If you would like to be constructive, please try to explain WHY you think “incentives matter” is a valuable lesson economics offers to us? In doing so, you should constantly apply the test ‘is the average 5-year old aware of this?’ noting that where this is so, you are either not saying anything interesting or are condemning economic research.

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By: rjs0 http://blogs.reuters.com/justinfox/2010/10/29/economists-respond-to-incentives/comment-page-1/#comment-153 Sat, 30 Oct 2010 10:47:42 +0000 http://blogs.reuters.com/justinfox/?p=50#comment-153 yep, economists are people who respond to incentives; as a result, they believe everyone else does…

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By: BarbaraKiviat http://blogs.reuters.com/justinfox/2010/10/29/economists-respond-to-incentives/comment-page-1/#comment-149 Fri, 29 Oct 2010 23:21:11 +0000 http://blogs.reuters.com/justinfox/?p=50#comment-149 Incentives, eh? See Mankiw’s Principle 4: http://www.youtube.com/watch?v=VVp8UGjEC t4&feature=player_embedded#!

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By: Anal_yst http://blogs.reuters.com/justinfox/2010/10/29/economists-respond-to-incentives/comment-page-1/#comment-147 Fri, 29 Oct 2010 21:42:08 +0000 http://blogs.reuters.com/justinfox/?p=50#comment-147 No mention of @Nouriel v. @thestalwart battle royale today (and the former’s accidential or otherwise mistake that there is nothing on teh interwebs that is “off the record”)???

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