THE NETWORK ECONOMY: SESSION THREE Challenging Behavioral Assumptions

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<ul><li> Slide 1 </li> <li> THE NETWORK ECONOMY: SESSION THREE Challenging Behavioral Assumptions </li> <li> Slide 2 </li> <li> The Role of Theory Domino Theory at Work: Courtesy of Rosendahl </li> <li> Slide 3 </li> <li> All Social Sciences Make Behavioral Assumptions </li> <li> Slide 4 </li> <li> Economic Man business man with a dollar symbol from filipinoj filipinoj </li> <li> Slide 5 </li> <li> What Do We Mean By Rational? Spock: Courtesy Wikipedia </li> <li> Slide 6 </li> <li> Why is Rationality a Critical Assumption? Equilibrium: Courtesy of Rebranca36 </li> <li> Slide 7 </li> <li> Veblens 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. </li> <li> Slide 8 </li> <li> To The Rescue? Bounded Rationality Do We Need a Guide if Everyone is Blind. (Courtesy of Jeanfou) </li> <li> Slide 9 </li> <li> But What About Social Man Hillel Social Group from HillelUWHillelUW </li> <li> Slide 10 </li> <li> Picking the Appropriate Path Two Roads Diverged: Courtesy of mhwildwood </li> <li> Slide 11 </li> <li> Testing Assumptions Photo Dont Assume: Courtesy of Teotwawki </li> <li> Slide 12 </li> <li> Measurement Tools Photos Courtesy of Wikipedia </li> <li> Slide 13 </li> <li> Interdisciplinarity &amp; Behavioral Economics Harvard Business Review (Courtesy of Run Comrad) </li> <li> Slide 14 </li> <li> Empirical/Experiment-based Magnifying Glass: Courtesy of FMackinlay </li> <li> Slide 15 </li> <li> Predictably Irrational </li> <li> Slide 16 </li> <li> Choices are Relative &amp; Relationally Based Courtesy of Meg and Fred </li> <li> Slide 17 </li> <li> The Role of Imprinting Goslings: Courtesy of Red Star </li> <li> Slide 18 </li> <li> Self Herding Elephant Herd Coming for Water in the Late Evening: Courtesy of Wild Images </li> <li> Slide 19 </li> <li> Free Lunch? Free Lunch (courtesy of LexenGer) </li> <li> Slide 20 </li> <li> The Cost of a Turkey? Wild Turkey from amkhoslaamkhosla </li> <li> Slide 21 </li> <li> ArousalAt What Cost? Dr. Jeykell and Mr. Hyde? (courtesy of New Yorkled) </li> <li> Slide 22 </li> <li> Valuing Possessions Worldly Possessions: Courtesy of Dessertdiva </li> <li> Slide 23 </li> <li> The Open Door Opening doors: Courtesy of Blurred Photo-Aron </li> <li> Slide 24 </li> <li> Lies and Half Truths Lies &amp; Half Truths: (courtesy of Blistered.Skies) </li> <li> Slide 25 </li> <li> Predictions or Explanations? Tarot Cards (Courtesy of bdwilson) </li> <li> Slide 26 </li> <li> 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! </li> </ul>