Thaler’s work provides a more realistic understanding of human behavior in economic theory.
The Psychology of Outsourcing, Part 10: Daniel Kahneman – Bridging Economics and Psychology
I’ll close this 10-part series with a bang: a Nobel Laureate in economics who also happens to be a psychologist, Daniel Kahneman. Kahneman, a professor emeritus of Psychology at Princeton University, questioned the assumption of rationality behind the decision-making process and the “cognitive traps” that make it virtually impossible to think clearly about happiness and […]
Steven D. Levitt: It’s All About Incentives
Next in my mini-series on the seminal economic thinkers who prepared the way for outsourcing I’d like to look at the more current and less theoretical side of the economics of outsourcing and there’s no better place to start than with Freakonomics and the followup mega-bestseller, SuperFreakonomics. Steven D. Levitt and his sidekick and co-writer […]
Robert M. Solow: Brains are Better than Brawn
Most – OK many – of us can remember when there was no Internet, when email was a clunky toy for a few that could never revolutionize communication, when computers were huge, slow and really annoying, when wireless was just another word for radio, when a phone sat on a table, hung on a wall […]