Econ 490 Fall Alan Krueger

It's been a good semester blogging for Prof. Arvan's class, we've covered a lot of interesting topics and for the last prompt we've been asked to evaluate some course policies, specifically attendance and mobile devices. The way that I often tend to approach situations like attendance in classes is starting with the pre-supposition that adults are rational. We’re taught starting in Econ 102 that we make the assumptions of rationality and ranked preference before we can begin any sort of analysis on behavior. When it comes to attendance, I think it would be silly not to continue to hold them. So, if a student is able to make rational choice, and is able to properly rank their preferences, then the discussion really hinges on whether attendance is a behavior which needs to be incentivized. Part of me thinks its really an issue of free association, the student should be free to choose where they go and what they do at all points, with whomever they so choose. From...

Reading about the triangle principal agent model is reminding me of one of my favorite pieces of theatre that I’ve seen over the last few years. Originally starring James Corden (now a late night tv host), One Man, Two Guvnors , which itself is based on an Italian commedia dell’arte entitled The Servant of Two Masters . Both versions revolve around a lower class young man who finds himself in the employ of two different people, who are at odds with one another. The comedy in the plays extend from the extreme measures in which he has to go to in order to keep them from finding out about his employment for the other, as each would question his loyalty and the motives behind his actions. In One Man, Two Guvnors , the people he is working for also happen to be involved in illegal activity, which further complicates the moral hazards. Now, most people don’t tend to find themselves indentured to rival mobsters, but they can often find themselves in situations where they serve sometime...