Losses 0.9 Beta.
Something like this is probably going out.
Monday, August 6, 2007
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About Me
- Karl Smith
- Professor of Economics and Government at the School of Government at the University of North Carolina at Chapel Hill.
About
Contact:
karl at sog dot unc dot edu
The opinions expressed here are mine and mine alone and should in no way be construed as representing the position or views of the UNC School of Government.
UNC Webpage
karl at sog dot unc dot edu
The opinions expressed here are mine and mine alone and should in no way be construed as representing the position or views of the UNC School of Government.
UNC Webpage
6 comments:
You misspell "lose" as "loose." Just a heads up.
Wouldn't this be an example of a 'nested games' framework?
Snipped from Chris Coyne paper: "The nested game framework is best developed by Tsebelis (1990) and the logic behind this approach is straightforward. While an actor’s decision may appear suboptimal to
outside observers, it is often the case that the observer has an incomplete perspective. While the observer focuses on one specific game, the actor is involved in a
network of embedded or nested games. Numerous games are played simultaneously and the resulting meta-game may be too complex for a general characterization. In short, the nested game framework provides a means of understanding why an actor, faced with a series of choices, does not select the option that appears to be superior to the outside observer."
I like it. Simple and fairly elegant explanation that rationalizes the actions of what is generally represented as an unreasonable mob, which begs the question, how can the actors coordinate so that productivity gains are maximised... I know you are thinking about wage insurance, and look forward to hear your thoughts.
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