The Network Economy: Session Three

1. The Network Economy: SessionThree Challenging Behavioral Assumptions

2. The Role of Theory Domino Theory at Work: Courtesy of Rosendahl

3. All Social Sciences Make Behavioral Assumptions

4. Economic Man business man with a dollar symbol
fromfilipinoj

5. What Do We Mean By Rational? Spock: Courtesy Wikipedia

6. Why is Rationality a Critical Assumption? Equilibrium: Courtesy of Rebranca36 Equilibrium: Courtesy of Rebranca36

7. 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.

8. To The Rescue? Bounded Rationality Do We Need a Guide if Everyone is Blind. (Courtesy of Jeanfou)

9. But What About Social Man Hillel Social Group
fromHillelUW

10. Picking the Appropriate Path Two Roads Diverged: Courtesy of mhwildwood

11. Testing Assumptions Photo “Don’t Assume: Courtesy of Teotwawki

12. Measurement Tools Photos Courtesy of Wikipedia

13. Interdisciplinarity & Behavioral Economics Harvard Business Review (Courtesy of Run Comrad)

14. Empirical/Experiment-based Magnifying Glass: Courtesy of FMackinlay

15. Predictably Irrational

16. Choices are Relative & Relationally Based Courtesy of Meg and Fred

17. The Role of Imprinting Goslings: Courtesy of Red Star

18. Self Herding Elephant Herd Coming for Water in the Late Evening: Courtesy of Wild Images

19. Free Lunch? Free Lunch (courtesy of LexenGer)

20. The Cost of a Turkey? Wild Turkey
fromamkhosla

21. Arousal—At What Cost? Dr. Jeykell and Mr. Hyde? (courtesy of New Yorkled)

22. Valuing Possessions Worldly Possessions: Courtesy of Dessertdiva

23. The Open Door Opening doors: Courtesy of Blurred Photo-Aron

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

25. Predictions or Explanations? Tarot Cards (Courtesy of bdwilson)

26. 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!