Despite economists’ frequent assumption that humans are rational economic agents, let’s admit it, we have limitations; we may be weak, altruistic, easily manipulated or scatter-brained among many other things. Thus, results based on, say field experiments relying on one-off interviews may tend to miss a lot of that important human behavior.
Back in grade school, I was the kind of kid who got excited about things like fractal geometry. I even went so far as to attend math camp one summer on the Eastern Shore.
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Columbia University's Geoffrey Heal asks, "can renewable energy save the world?". The answer is dependent on infrastructure and technology, rather than cost:
Not too long ago, Bill Easterly and Justin Lin squared off at an event at the World Bank over the wisdom of industrial policy in developing countries. While I am sympathetic to Bill's position, judging by the mood of the crowd in the room, I would have to call the debate a tie.