Hyperbolic discounting happens because we consider the future as far less salient than the present. Figuring out if we ourselves are hyperbolic discounters may change what we think about whether we should withdraw our money at 55 or at 60.
Hyperbolic discounting happens because we consider the future as far less salient than the present. Figuring out if we ourselves are hyperbolic discounters may change what we think about whether we should withdraw our money at 55 or at 60.
The reason the counterfactual is important to know in any empirical research project, especially in the social sciences, is that it gives us a basis in which to compare outcomes of policy.
Even pure, free market competition, sans oligopolies and monopolies, may lead to sub optimal outcomes from the perspective of the collective.
I have some issues with recent policies in Malaysia, particularly those that deal with government revenue and government expenditure.
In principle, I am all in favor of decentralization. I think far too much is centralized in Malaysia, and that includes examinations.
if we are to be consistent in our principles behind supporting Uber, we must acknowledge as well that those same principles apply to illegal immigrants in Malaysia.
The reason that the election manifestos are so far apart is not because the Median Voter Theorem does not hold but rather, it is because there is incomplete information and different presumptions by both parties as to “who” exactly the Malaysian Median Voter is.
I got to witness firsthand, different anecdotes on how economic hardships can influence behavior among people and how these behaviors can manifest in significantly different ways.
In the Indian public sphere, two highly-respected Indian economists, Amartya Sen and Jagdish Bhagwati, have launched into a fascinating debate on the appropriate path for India’s development.
This note does not seek to critique our Ministers’ views of the homeless but rather to evaluate the economic rationale on homelessness and the ban on soup kitchens.
What the Albanian government is trying to do is somewhat similar to what the Malaysian government tried to do and is currently doing, via its Economic Transformation Program (ETP), is essentially industrial policy.