By exploring the philosophical and psychological foundations of Utility Theory, we can better understand human happiness and behavior.
This paper asks, how empirical evidence does or does not influence economic thinking and theory. In particular, which role do calibration, statistical inference, and structural change play? Read more
“Look! Up there in the sky! What is it? Is it a plane? Is it a bird?” No, it’s a distraction from the robbery that is taking place in broad daylight on the ground. Read more