Word: laibson
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...Professor of Economics David I. Laibson ’88, who gave the added Ec 10 lecture this year, has built a career out of proving all the old assumptions wrong. “The big picture is trying to make economics more realistic by incorporating more psychological realism,” Laibson says...
Addressing the rationality assumption through psychology was a further step away from the past. “This is all very new stuff,” says Daniel Benjamin, a graduate student who has been working with Laibson since his freshmen year as an undergraduate. “Economists have suspected that psychology may be important for a lot of economics, but it’s only recently that this kind of work has become the frontier of economic research...
Professor of Economics David I. Laibson said in February that the council fills three functions: it operates as a “sounding board” for economic policies proposed by the president; it initiates new ideas and economic policies; and it serves as a liaison between the president and Congress, the public and the United States’s allies...
...Marglin, who has said that Ec 10 fails to sufficiently question the assumptions of economics, wrote in an e-mail that the addition of Laibson to the lineup of lecturers would only go so far in helping to broaden the course...
Several Members of SHARE said they were pleased that Laibson will serve as a lecturer in the course...