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The Network Economy: Session Three. Challenging Behavioral Assumptions. The Role of Theory. Domino Theory at Work: Courtesy of Rosendahl. All Social Sciences Make Behavioral Assumptions. Economic Man. business man with a dollar symbol
from filipinoj. What Do We Mean By Rational?.

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the network economy session three

The Network Economy: SessionThree

Challenging Behavioral Assumptions

the role of theory
The Role of Theory

Domino Theory at Work: Courtesy of Rosendahl

economic man
Economic Man

business man with a dollar symbol
fromfilipinoj

what do we mean by rational
What Do We Mean By Rational?

Spock: Courtesy Wikipedia

why is rationality a critical assumption
Why is Rationality a Critical Assumption?

Equilibrium: Courtesy of Rebranca36

Equilibrium: Courtesy of Rebranca36

veblen s famous caricature
Veblen’s Famous Caricature

The hedonistic calculator of man is that of a lightening calculator of pleasure and pains, who oscillates like a homogenous globule of desire and happiness under the impulse of stimuli that shift him about the area, but leave him intact. He has neither antecedent nor consequence. He is an isolated definitive human datum in stable equilibrium except for the buffets of the impinging forces that displace him in one direction or another. Self imposed in elemental space: he spins symmetrically about his own spiritual axis until the parallelogram of forces bears down upon him, whereupon he follows the line of the resultant. When the force of the impact is spent, he comes to rest, a self-contained globule of desire as before.

to the rescue bounded rationality
To The Rescue? Bounded Rationality

Do We Need a Guide if Everyone is Blind. (Courtesy of Jeanfou)

but what about social man
But What About Social Man

Hillel Social Group
fromHillelUW

picking the appropriate path
Picking the Appropriate Path

Two Roads Diverged: Courtesy of mhwildwood

testing assumptions
Testing Assumptions

Photo “Don’t Assume: Courtesy of Teotwawki

measurement tools
Measurement Tools

Photos Courtesy of Wikipedia

interdisciplinarity behavioral economics
Interdisciplinarity & Behavioral Economics

Harvard Business Review (Courtesy of Run Comrad)

empirical experiment based
Empirical/Experiment-based

Magnifying Glass: Courtesy of FMackinlay

the role of imprinting
The Role of Imprinting

Goslings: Courtesy of Red Star

self herding
Self Herding

Elephant Herd Coming for Water in the Late Evening: Courtesy of Wild Images

free lunch
Free Lunch?

Free Lunch (courtesy of LexenGer)

the cost of a turkey
The Cost of a Turkey?

Wild Turkey
fromamkhosla

arousal at what cost
Arousal—At What Cost?

Dr. Jeykell and Mr. Hyde? (courtesy of New Yorkled)

valuing possessions
Valuing Possessions

Worldly Possessions: Courtesy of Dessertdiva

the open door
The Open Door

Opening doors: Courtesy of Blurred Photo-Aron

lies and half truths
Lies and Half Truths

Lies & Half Truths: (courtesy of Blistered.Skies)

predictions or explanations
Predictions or Explanations?

Tarot Cards (Courtesy of bdwilson)

blogging question
Blogging Question

To what extent do social norms enter into your economic decision making process. Are they more influential under some circumstances than others. Explain. Have you ever blundered, and failed to recognize that a given situation called for a specific type of response? Tell all!