May 2010
2 posts
Where neuroscience meets microeconomic theory...
In microeconomic theory, price is an exogenous variable, an unexplained variable. I read an essay recently in which the author claimed that neuroscience seems to have derived where the price arises: behavioral tension motivates both the buyer and the seller. The implications of this essay lead to a focus on ethics within the firm, something I have rarely, if ever, heard in the classroom...
WOW! Just WOW....
I am posting a quote from, I hate to admit, the Texas Governor Rick Perry in response to the the BP disaster and in support of his favorite ideology: “We don’t know what the event that has allowed for this massive oil to be released…[could have been] just an act of God that [caused this]..and politically driven decisions could put the U.S. in further economic peril. From time to time...