Word: laibson
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Dates: during 2000-2009
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...salient example of this piece of advice: when superstar economics professor David I. Laibson ‘88 told the students of “Psychology and Economics” how he treated reading when he was a Harvard undergrad...
...Okay, Professor Laibson. Now that we know that the highly academically successful, tenured, and nationally-renowned leader of our course never did the reading in college, we’ll be sure to take that advice seriously. Isn’t this supposed to be a class about effective means of persuasion...
...computer on and walks out the door.”But in the last few years, a trickle of physicists, computer scientists, and mathematicians to Wall Street has diluted the level of understanding of the formulas and algorithms processed by their high-powered computers, says economics professor David I. Laibson ’88. In certain cases, some economists say, their lack of economic intuition may have caused them to make incorrect assumptions that biased the models.One of the quantitative modeling concepts that has come under heaviest fire is Value at Risk, which, unlike Black-Scholes, was born...
...professor of management science at MIT, later redeeming the postulates behind economics by saying that “without those false assumptions, we could not have been making the progress we have been making.” Others voiced similar criticisms of economics. Harvard Economics Professor David I. Laibson ’88 noted that economics reduces individuals into simple decision-makers instead of acknowledging that people have several competing mental processes. Brown Neurobiology Professor Peter E. Politser argued that economics ignores the nuances of decision making. “To understand decisions across many contexts, we often have...
...David I. Laibson, a professor in the department who specializes in behavioral economics, said tax cuts for low-income households will likely be spent in the first year, rather than in the first months after...