Is it advisable to apply game theory to parenting (a) from the point of view of the parents but more importantly (b) from the point of view of the children?
Foul! I attempted to withdraw the Ayn Rand request (see comment 20 in that thread) because I remembered that there was a previous post on the declassified website. Furthermore, since the cost of entry into this oeuvre is the purchase of a certain book, using the book as a response to a request seems to be a solipsism.
I think secret blog readers really are owed a post today. It's been, what, practically months since a post here.
Otherwise, the marginal cost of this maintaining this secret will be below its value. (of course, the marginal cost of bean spilling is still too high.)
Oi, achei teu blog pelo google tá bem interessante gostei desse post. Quando der dá uma passada pelo meu blog, é sobre camisetas personalizadas, mostra passo a passo como criar uma camiseta personalizada bem maneira. Até mais.
Sam, could you please do a post on cats? What do you think of cats? How about okapis? Aren't they splendid creature, much more natural and beastly than any zebroid.
If the bonus 6th reader request is to be wasted on cats, it should at least include a section explaining whether they are allowed to eat spaghetti. I always forget.
Derek, Tyler's book hasn't been released yet, so you actually haven't paid anything yet. You are always welcome to cancel your pre-order at amazon until it ships. I too would feel cheated except for the fact that I would have bought his new book anyway.
Sameer, while I have not paid anything yet, it would be immoral to cancel given that I have access to the secret blog on the condition of my purchasing. I cannot express buyer's remorse (now that I know this blog does not have any new posts) and cancel my order. That would just be catty.
Keep in mind, the original promise was that the secret blog has 43 posts and that I might (as in "might") continue posting there a bit more...or take some reader requests...
The best thing about this blog is that we can talk about it with our grandchildren when we are old.
"I once prepaid a pre-VR "book" on the old internet so I could access a secret forum. Imagine that! We could still have secret exchanges back then. Very dangerous :)"
if bill and jessica's request pertains to cats then that could be a backdoor way of sneaking a cat question to sam. bill and jessica, whoever you are, please ask a feline-related question.
Is there any research on non-human economic decisions?
I believe Adam Smith did some research on bone bartering among dogs.
However, a JSTOR search reveals that no significant research has yet to be done on hairball bartering among cats. (Thus, the Literature Review portion of your paper will be quite easy to write.)
I wonder if Sam now regrets opening the comments up to anonymous posters.
This blog finally prompted me to get a feed-reader, which was really long overdue, so I guess I'm grateful for that.
Sam is right, though, he said:
"My secret blog has 43 posts, plus who knows I may blog there a bit more or take special requests"
And he also said that it would be taken down at some point.
So, while I expected something different from the world's most consistent blogger (and from the term "blog" even, this was mostly a blog-archive or a defunct blog), I blame myself. In any event, I would have made the same trade even with a clearer understanding and am happy with the value received and the opportunity to contribute to science.
I believe Adam Smith did some research on bone bartering among dogs.
Adam Smith wrote in Wealth of Nations:
"(...)Nobody ever saw a dog make a fair and deliberate exchange of one bone for another with another dog. Nobody ever saw one animal by its gestures and natural cries signify to another, this is mine, that yours; I am willing to give this for that. When an animal wants to obtain something either of a man or of another animal, it has no other means of persuasion but to gain the favour of those whose service it requires. A puppy fawns upon its dam, and a spaniel endeavours by a thousand attractions to engage the attention of its master who is at dinner, when it wants to be fed by him(...)"
Adam Smith may have been wrong: http://news.yahoo.com/s/ap/20070710/ap_on_fe_st/odd_kitten_dog_nursing_4
In this case, we see a mature, female dog willingly giving her milk to a young kitten in return for affecttion and love. Perhaps, animals do indeed engage in trade all the time. Or, perhaps it is just the unique intelligence of felines that facilitates such transactions.
Cheers to cat-lovers! Jeers to cat-hating economists!
I don't know about cats, but capuchin monkeys are economic agents. The first Freakonomics column in NY Times magazine was on this, "But in a clean and spacious laboratory at Yale-New Haven Hospital, seven capuchin monkeys have been taught to use money, and a comparison of capuchin behavior and human behavior will either surprise you very much or not at all, depending on your view of humans."
http://www.freakonomics.com/times0605col.php
If I recall, there was also a study by a Fordham economist on koala bears that were taught to play a simple card game where the winner got peanut chips.
SAM has marginalized this blog. Let's start a revolution to overthrow him and appoint someone else who will actually post. I suggest a cat-lover who is very unlike Adam Smith.
The most recent Nobel prize in economics was awarded to Edmund Phelps, an economist who has done research on cats.
"There were some clues in those formative years that I might become an economist. In the evening walks we took when I was four my father taught me to identify the automobile models we saw on the street. Later, at age seven or so, there was my admired survey of all the cats in the complex of apartments where we lived."
http://www.columbia.edu/~esp2/auto.pdf
In addition to his analysis of cats, the polymathic Phelps also contributed to economics with some stuff on inflation dynamics.
Bryan Caplan recently wrote about the economics of selling hypoallergenic cats.
"A cute story about how a company captured the profits of developing a hypoallergenic cat: "In order to forestall the creation of a secondary market by customers who buy the cats [$3950 + $900 shipping] and then breed them themselves, Allerca simply neuters all the cats it sells."
Very unethical, immoral, weird, and irreverent trade in cats ...
[In Guangdong Province, cats are sold for their meat at 15 yuan per kg. "Many people are involved in the business. A teenager once told me he could make 20,000 to 30,000 yuan per month doing this," Huo said.]
Now that we have all of our cat questions answered by Tyrone (surely Tyler couldn't have posted that answer), on to the next question.
Fixed price long term contracts for gasoline, rather than what is essentially a retail spot market: Where's the market? They could be hedged with futures contracts.
Fed Chairman Bernanke metaphorically referenced cats in his speech this week ...
"Notably, in a world with rational expectations and in which private agents are assumed already to understand all aspects of the economic environment, cats are not safe."
(1) Can a central bank actually set *real* interest rates in anything other than the short-term? Or in the long-run would the rate of inflation adjust to enforce the real rate that would arise in the absence of initial governmental attempts to control the cost of credit?
The belief that the central bank can set the long-run unemployment rate through a manipulation of the inflation rate is fully discredited (i.e. widespread acceptance of a vertical long-run Phillips curve). Is the belief that central banks can control real rates next to go?
(2) Do public inflation expectations become almost meaningless under a system of targeting monetary aggregate growth instead of a system of targeting rates?
Sam, since this is your secret blog, could you please tell us 3 things that you are embarrassed to admit, at least in public, you like? Start with one, please, if 3 are too embarrassing.
Clearly I would prefer to be a bumble bee, since I am already familiar with mammalian existence. Furthermore in the world of bumble bees, central banks can exert long-run control over real interest rates; in the mammalian world they can only do this in the short run, and only for the short rate at that.
Sam, will my girlfriend become like her mother if I marry her? And does the fact that she's an outdoors girl and I'm a city guy spell doom for our relationship?
[Elsewhere, Tyler ##### blogs on The Economics of Cats. I'm not sure I actually follow his logic, but since his conclusion is that "we have too few cats in the world, relative to dogs," I declare his logic impeccable anyway. Inkblot and Domino heartily agree.]
http://tinyurl.com/yr73rp
[Great blog post by Tyler #####. Although he approaches the topic of pet ownership from a broad perspective and not a utility-maximizing one. While your own preferences dictate your own level of happiness, I believe it's the unconditional love given by dogs (or their willingness to be our slaves as Tyler puts it) that make them more popular than independent-minded cats.]
A few days ago Brad DeLong wrote a good blog entry about a guy in China who really liked cats.
"Deng sought to maintain the Communist Party oligarchy's control over China's politics while also seeking a better life for China's people, and he is guided by two principles: (i) be pragmatic ("what matters is not whether the cat is red or white, what matters is whether the cat catches mice)"
What chimpanzees do not have in common with left-wing economists...
"The study showed chimpanzees would seek retribution when wronged but did not punish others out of spite, for instance if another chimpanzee was better off, said Keith Jensen, an evolutionary biologist at the Max Planck Institute in Germany, who led the study."
http://tinyurl.com/2nqpyd
I would like to see this study replicated on both cats and koala bears before more definitive conclusions are drawn.
Your girlfriend probably will become like her mother, yes.
On MR, I wrote the following of the blog of Megan Non-McArdle:
"The underlying model? Nathan Zook's first point is right on. I also like a later point: "I think of MR more as a podium, with Tyler speaking to the audience, and the comments the audience talking amongst themselves."
But there is more. I also see MR as a creation of an artificial world, a world inhabited by one very particular kind of person. Of course that world isn't flawless, it couldn't be. Through the medium of linking, Megan "inhabits" this world as well (admittedly perhaps sometimes she would rather not!). MR is a gallery, a simulation, a mini-TV show, and an experiment.
But most of all, MR is a way for Tyler and Alex to learn. It is a very selfish undertaking, and thus at least Tyler underinvests in the public good aspects of the blog."
Here is the link: https://www.blogger.com/comment.g?blogID=21496980&postID=6044280794870832072
Sam, I would make sure your daughter stays away from cats at F&M. There are some very fierce cats there and I would not want her to get mixed up with the wrong cats:
Sam, here is my dilemma: I love my mother to death. But the prospect of me ultimately turning into her also scares me to death. Frankly, I do not think she would like it either. What should I do? Please don't say "do nothing" because, I have thought that one through, and the model of my mother is so vivid that if I do nothing, I will ultimately turn into her. Please also do not recommend "try to die soon so you will never catch up with her." That would be a social welfare negative solution because neither she nor I would like it. What should I do, assuming I cannot really change her? Thank you very much in advance.
[Anonymous who doesn't want to become her mother: I'm the anonymous who asked whether his girlfriend would ultimately become her mother. My girlfriend would never say "social welfare negative solution," so just in case you thought perhaps your boyfriend was the anonymous poster who asked about his girlfriend... I'm not him, and you're not her.]
[But I will definitely be paying close attention to Sam's answer, because there is just no way I would ever marry my girlfriend's mother (well, the younger version thereof, of course, but you know what I mean).]
Here's a post I'm not going to use on MR, I would have titled it "Are Psychiatrists Disgusting?":
"We psychiatrists are disgusting. Everything reminds us of sex. Even when we are in bed with a naked woman, we think of sex."
That is from Edith Templeton's intermittently fascinating Gordon, not recommended for the children in the house. You also might try the less explicit but still interesting Uncommon Arrangements: Seven Portraits of Married Life in London Literary Circles, 1910-1939, by Katie Roiphe.
In an artifical world of mostly nefarious cats, should the central bank target CPI futures? (I say "artificial world" because in the real world most cats are nice.)
Sam, I'd like your thoughts on whether the universal cultural restriction on eating ravioli with your hands is arbitrary? Could society have evolved such that it was acceptable to eat ravioli with your hands? Or like bans on incest is this just one of those things that needs to be enforced to discourage the breakdown of society? Thanks.
More support for the notion that Alan Greenspan surreptitously hated cats while running the Fed...
He once said in a speech: "The United States had come out of an antebellum period of so-called wild cat banking--which incidentally was far less wild than some historic lore would have it--and the safety of the nation's money was on the minds of both bankers and regulators as our financial system matured."
I just ordered Greg Clark's book as well as Sam's friend's book, Good and Plenty. I wonder if this latter purchase will get me access to a super-duper-secret-blog or whether I will get an extra podcast. I'd be satisfied if I were allowed to pet Sam's cat.
"Oscar the cat seems to have an uncanny knack for predicting when nursing home patients are going to die, by curling up next to them during their final hours. His accuracy, observed in 25 cases, has led the staff to call family members once he has chosen someone. It usually means the patient has less than four hours to live(...)"
Sam, what is the price of nonconformity to social norms? Actions that don't adhere to convention won't be perceived as well by others and will be valued less.
I've liked all the cats that I've had. As a child I had persians and angoras that used to sleep on my bed or even along side when it was the depth of winter. I've had cats more recently too. I like cats. Though I happen to like dogs more than cats and Australian Shepherds most of all. Heck even my last Aussie liked cats and didn't ever try to hurt the cats I had.
I did a search for "economists that really like cats," and this secret blog popped up. The funny thing is I wasn't even looking for it. What I was looking for (and what I still haven't found) is a list of the economists that appreciate cats the most.
Sam, I am in great need of a cat. Moreover, I guarantee that I will breed this cat like no one else thereby driving down the price of cats and making them accessible to more homeowners. Then, the wish of the great TC of MR will be fulfilled and we will have a land with more cats and the ratio of cats to dogs will increase. If you give a copy of you cat to me, it has positive marginal utility relative to other options even if it will not recover the cost of the cloning.
I am a second year econ PhD student, and will be teaching an undergrad cat grooming class in the fall. I was hoping to use excerpts from your cat as examples to my class. However, while I gratefully acknowledge the generosity of my university in extending to me a research assistantship, I cannot currently afford a cat. Also note that I reside in the United States, so there should be no problem shipping a cat to me. It would also be amazingly cool if you could autograph the cat before sending it.
Sam, are cats capable of overcoming bias? And do cats place too much emphasis on overcoming bias relative to overcoming laziness, fear, ad assorted peppers? My cat is very lazy.
Sam, my cat insists on eating only tuna finish every single night. I want him to expand his taste for more exotic cuisine. What should I do? Thanks so much.
As you know, I love cats. I already have 3 of them. I'd like to get a 4th, but my wife says 4 cats is to many. I think she is being completely ridiculous. My question for you is there ever such a thing as to many cats?
"(...)Professor Gunn-Moore said: "Cats are now the number one pet, they are more popular than dogs. People get in late and they don't want to walk the dog(...)"
Frank, I feel for you. By the way, you can always get another cat. My cat just got fired from GS Global Alpha after the margin call and my family is in serious trouble. We think we may have to steal our next meal. Fortunately, it does not look like our cat will need to rape anyone in the near future.
You know, speaking of cats eating cheeseburgers and jellybeans makes me want to go down to Wendy's for a bite to eat. Sam, I know you are quite the food critic; where would you recommend for a good cheeseburger in: 1) Boston, 2) Manhattan, 3) Philadelphia, and 4) DC?
I'd like to soon start the RBB BookForum on Cat in the Hat. The discussion will begin within 5-10 days with the first session touching upon setting and overview. You won't even need to have started the book by then!
My cat eats a lot of Mexican food. Trouble is, it is hard to find good Mexican food these days and, ergo, I find myself importing Mexicans in order to keep my cat sated. I would not want an angry cat, would you?
I once knew a cat that loved coffee. You could never leave a cup of coffee unattended, because if you did, the cat would drink it. (Well, not all of it, of course, but who wants to drink after a cat?)
My cat never used to like sour cream....and then he started eating a little on baked potatoes every once and a while. Now, it's practically an obsession...He even tried sour cream on pizza. It wasn't too good.
It's your own fault. What do you expect to read about on a cat blog, if not cats? People who are more interested in, say, the term structure of interest rates among bumblebees should read one of the fine econ blogs out there instead.
In the meantime, we'll be talking about cats. Sam, have you noticed that declawed cats will still attempt to sharpen their (nonexistent) claws? What does this tell us about human behavior?
I really like cats, but having never ownedone, and also being out of the house for a lot of the time during university term time it means that I can't have a cat. But I a question...
Sam, what happens when you put a big mirror somewhere and your cat sees himself in it? I respume all cats are different so please tell me what yours does
See this post entitled "Catonomics"-- http://tinyurl.com/2ar95y
"The the cost of goods rises, people look for substitutes. So do my cats. Recently, I moved one of the litter boxes from the third floor to the first, where the other litter box is. (Each cat has its own litterbox.) Annoyed at the new, higher cost of usage (”I have to go all the way down there to pee?”) the cat procured a substitute: a persian rug.
Litterboxes, apparently, are positional goods. How do I know? The other cat, annoyed that her rival had a “new” litter box (i.e., the rug), decided to keep up with the Joneses and began peeing on the persian rug, too."
My cat supports Michael Vick. I think that is because my dog (now dead) was very cruel to her when she was a kitten. This is all very hard on me because I am torn between supporting my beloved cat and honoring the memory of my trusted companion. Sam, what do I do in this ethical quandary?
Sometimes I wonder if this entire thread is written by just one person. I wonder if "anonymous" just keeps posting questions and then answering them him/herself.
I don't let my cat read my books anymore because he chews the pages as he reads them to track where he is. I wish he would use a bookmark like everyone else in the world.
Cats scale extremely well. Small cats are basically the same as large cats, only smaller. This is not true for dogs... what would a 500 pound dog look like?
My cat has discovered his inner economist and no longer rewards me with affection for feeding him, believing instead that I should do so out of a sense of shared commitment instead. However, he has yet to divulge in what sense this commitment is "shared."
)
442 comments:
1 – 200 of 442 Newer› Newest»Foul! I attempted to withdraw the Ayn Rand request (see comment 20 in that thread) because I remembered that there was a previous post on the declassified website. Furthermore, since the cost of entry into this oeuvre is the purchase of a certain book, using the book as a response to a request seems to be a solipsism.
That's a handy coincidence - I've already bought that book.
Bill and Jessica, I will offer you another request...just email it to me...Tyler
What, now you want us to READ the book TOO?
I just noticed that you put the URL of marginal revolution on the front cover of your book.
Might that be a first?
Buy the book AND read it? How absurd.
Nothing beats the sarcastic American sense of humor, right?
Attempting to read the book now might prove challenging, as it won't be released until August 2.
I think secret blog readers really are owed a post today. It's been, what, practically months since a post here.
Otherwise, the marginal cost of this maintaining this secret will be below its value. (of course, the marginal cost of bean spilling is still too high.)
I expect the next one to be extremely witty, too.
MORE POSTS! MOOOOOOOORRRRRRRRRRE POOOOOOOOOOOOOOSSSSSSSSSSSSSSSTS.
New content please.
I like cats.
Oi, achei teu blog pelo google tá bem interessante gostei desse post. Quando der dá uma passada pelo meu blog, é sobre camisetas personalizadas, mostra passo a passo como criar uma camiseta personalizada bem maneira. Até mais.
Sam, could you please do a post on cats? What do you think of cats? How about okapis? Aren't they splendid creature, much more natural and beastly than any zebroid.
I also like cats. But I would prefer a post on the degree to which the oddities of my girlfriend's mother should dissuade me from proposing marriage.
So this is called "fifth and final reader request."
I guess that means no more requests.
There seem to be a strange number of com-boxers interested in cats. Perhaps we could have a sixth reader request on cats?
If the bonus 6th reader request is to be wasted on cats, it should at least include a section explaining whether they are allowed to eat spaghetti. I always forget.
Sam, we have not had a post on food in quite some time. How about what the previous poster suggests? A post on pasta would be fascinating.
My cat's breath smells like cat food.
I think "Sam" is conducting an experiment a la this article from the Economist.
Apparently, faithful R&B readers care mainly about felines.
My feline question for Sam-- In a neoliberal capitalistic society what is the role of cats?
Today I walked into the kitchen and my cat was dancing on the table. This is why I should have ignored my wife and gotten a dog.
Enough about these f-ing cats! Let's see some more blog posts. Has this blog died? Is there a new secret blog. I want my money back...
1) My cat woke me up this early morning with its yowling and mewling.
2) I woke up and fed it.
3) Has my cat discovered its inner economist?
Cats. Cats. Cats.
Derek,
Tyler's book hasn't been released yet, so you actually haven't paid anything yet. You are always welcome to cancel your pre-order at amazon until it ships.
I too would feel cheated except for the fact that I would have bought his new book anyway.
It appears that Bill and Jessica are the only ones who Sam will respond to. See comment #3.
Sameer, while I have not paid anything yet, it would be immoral to cancel given that I have access to the secret blog on the condition of my purchasing. I cannot express buyer's remorse (now that I know this blog does not have any new posts) and cancel my order. That would just be catty.
Keep in mind, the original promise was that the secret blog has 43 posts and that I might (as in "might") continue posting there a bit more...or take some reader requests...
Tyler
The best thing about this blog is that we can talk about it with our grandchildren when we are old.
"I once prepaid a pre-VR "book" on the old internet so I could access a secret forum. Imagine that! We could still have secret exchanges back then. Very dangerous :)"
if bill and jessica's request pertains to cats then that could be a backdoor way of sneaking a cat question to sam. bill and jessica, whoever you are, please ask a feline-related question.
Sam,
Are cats rational in an economic sense? Is there any research on non-human economic decisions?
Thanks,
Fake bill and jessica
Is there any research on non-human economic decisions?
I believe Adam Smith did some research on bone bartering among dogs.
However, a JSTOR search reveals that no significant research has yet to be done on hairball bartering among cats. (Thus, the Literature Review portion of your paper will be quite easy to write.)
I wonder if Sam now regrets opening the comments up to anonymous posters.
I love cats. But Natasha doesn't want us to rent a cat, which I otherwise would do.
Tyler
Sam, animals get very nervous, happy or spoiled when they are on rent. They don't rewind so well. But it is so nice to know you like them!
This blog finally prompted me to get a feed-reader, which was really long overdue, so I guess I'm grateful for that.
Sam is right, though, he said:
"My secret blog has 43 posts, plus who knows I may blog there a bit more or take special requests"
And he also said that it would be taken down at some point.
So, while I expected something different from the world's most consistent blogger (and from the term "blog" even, this was mostly a blog-archive or a defunct blog), I blame myself. In any event, I would have made the same trade even with a clearer understanding and am happy with the value received and the opportunity to contribute to science.
I believe Adam Smith did some research on bone bartering among dogs.
Adam Smith wrote in Wealth of Nations:
"(...)Nobody ever saw a dog make a fair and deliberate exchange of one bone for another with another dog. Nobody ever saw one animal by its gestures and natural cries signify to another, this is mine, that yours; I am willing to give this for that. When an animal wants to obtain something either of a man or of another animal, it has no other means of persuasion but to gain the favour of those whose service it requires. A puppy fawns upon its dam, and a spaniel endeavours by a thousand attractions to engage the attention of its master who is at dinner, when it wants to be fed by him(...)"
http://tinyurl.com/yoe5th
Adam Smith may have been wrong:
http://news.yahoo.com/s/ap/20070710/ap_on_fe_st/odd_kitten_dog_nursing_4
In this case, we see a mature, female dog willingly giving her milk to a young kitten in return for affecttion and love. Perhaps, animals do indeed engage in trade all the time. Or, perhaps it is just the unique intelligence of felines that facilitates such transactions.
Cheers to cat-lovers!
Jeers to cat-hating economists!
I don't know about cats, but capuchin monkeys are economic agents. The first Freakonomics column in NY Times magazine was on this, "But in a clean and spacious laboratory at Yale-New Haven Hospital, seven capuchin monkeys have been taught to use money, and a comparison of capuchin behavior and human behavior will either surprise you very much or not at all, depending on your view of humans."
http://www.freakonomics.com/times0605col.php
If I recall, there was also a study by a Fordham economist on koala bears that were taught to play a simple card game where the winner got peanut chips.
SAM has marginalized this blog. Let's start a revolution to overthrow him and appoint someone else who will actually post. I suggest a cat-lover who is very unlike Adam Smith.
"Cat and Bone Buffet" anyone?
The most recent Nobel prize in economics was awarded to Edmund Phelps, an economist who has done research on cats.
"There were some clues in those formative years that I might become an economist. In the evening walks we took when I was four my father taught me to identify the automobile models we saw on the street. Later, at age seven or so, there was my admired survey of all the cats in the complex of apartments where we lived."
http://www.columbia.edu/~esp2/auto.pdf
In addition to his analysis of cats, the polymathic Phelps also contributed to economics with some stuff on inflation dynamics.
Bryan Caplan recently wrote about the economics of selling hypoallergenic cats.
"A cute story about how a company captured the profits of developing a hypoallergenic cat: "In order to forestall the creation of a secondary market by customers who buy the cats [$3950 + $900 shipping] and then breed them themselves, Allerca simply neuters all the cats it sells."
http://tinyurl.com/2xokwc
I'm sure he got the Nobel for the feline research?
Very unethical, immoral, weird, and irreverent trade in cats ...
[In Guangdong Province, cats are sold for their meat at 15 yuan per kg. "Many people are involved in the business. A teenager once told me he could make 20,000 to 30,000 yuan per month doing this," Huo said.]
http://tinyurl.com/2fb5vq
Ayn Rand likes cats.
"Rand had several pet cats over the years, including ones named Turtle Cat, Frisco, Thunderbird, Ali and Junior."
http://www.noblesoul.com/orc/bio/biofaq.html
Oh, Happy Day!
http://www.marginalrevolution.com/marginalrevolution/2007/07/the-economics-o.html
Now that we have all of our cat questions answered by Tyrone (surely Tyler couldn't have posted that answer), on to the next question.
Fixed price long term contracts for gasoline, rather than what is essentially a retail spot market: Where's the market? They could be hedged with futures contracts.
Retail gas futures here-- http://cfe.cboe.com/products/products_GAS.aspx ... Now back to cats please.
Fed Chairman Bernanke metaphorically referenced cats in his speech this week ...
"Notably, in a world with rational expectations and in which private agents are assumed already to understand all aspects of the economic environment, cats are not safe."
http://www.federalreserve.gov/boarddocs/speeches/2007/20070710/default.htm
So what do you all want to read about now?
So what do you all want to read about now?
(1) Can a central bank actually set *real* interest rates in anything other than the short-term? Or in the long-run would the rate of inflation adjust to enforce the real rate that would arise in the absence of initial governmental attempts to control the cost of credit?
The belief that the central bank can set the long-run unemployment rate through a manipulation of the inflation rate is fully discredited (i.e. widespread acceptance of a vertical long-run Phillips curve). Is the belief that central banks can control real rates next to go?
(2) Do public inflation expectations become almost meaningless under a system of targeting monetary aggregate growth instead of a system of targeting rates?
I'd like to read about the economics of giraffes.
In regards to long-necked mammals: Research on using economic models in biology and evolution?
Sam, since this is your secret blog, could you please tell us 3 things that you are embarrassed to admit, at least in public, you like? Start with one, please, if 3 are too embarrassing.
I am greatly embarrassed to like Gilbert O'Sullivan so much. The other two I will have to think about...
Sam, If for 3 hours you could be a bumble bee, a giraffe, or a koala bear, which would you be?
Clearly I would prefer to be a bumble bee, since I am already familiar with mammalian existence. Furthermore in the world of bumble bees, central banks can exert long-run control over real interest rates; in the mammalian world they can only do this in the short run, and only for the short rate at that.
bees knees, what a great answer.
Sam, what kind of cat would you be if you could be a cat?
It would not be proper to suggest I would be a tomcat!
Sam, will my girlfriend become like her mother if I marry her? And does the fact that she's an outdoors girl and I'm a city guy spell doom for our relationship?
[Elsewhere, Tyler ##### blogs on The Economics of Cats. I'm not sure I actually follow his logic, but since his conclusion is that "we have too few cats in the world, relative to dogs," I declare his logic impeccable anyway. Inkblot and Domino heartily agree.]
http://tinyurl.com/yr73rp
[Great blog post by Tyler #####. Although he approaches the topic of pet ownership from a broad perspective and not a utility-maximizing one. While your own preferences dictate your own level of happiness, I believe it's the unconditional love given by dogs (or their willingness to be our slaves as Tyler puts it) that make them more popular than independent-minded cats.]
http://tinyurl.com/2xdbww
A few days ago Brad DeLong wrote a good blog entry about a guy in China who really liked cats.
"Deng sought to maintain the Communist Party oligarchy's control over China's politics while also seeking a better life for China's people, and he is guided by two principles: (i) be pragmatic ("what matters is not whether the cat is red or white, what matters is whether the cat catches mice)"
http://tinyurl.com/2d2e8j
What chimpanzees do not have in common with left-wing economists...
"The study showed chimpanzees would seek retribution when wronged but did not punish others out of spite, for instance if another chimpanzee was better off, said Keith Jensen, an evolutionary biologist at the Max Planck Institute in Germany, who led the study."
http://tinyurl.com/2nqpyd
I would like to see this study replicated on both cats and koala bears before more definitive conclusions are drawn.
Your girlfriend probably will become like her mother, yes.
On MR, I wrote the following of the blog of Megan Non-McArdle:
"The underlying model? Nathan Zook's first point is right on. I also like a later point: "I think of MR more as a podium, with Tyler speaking to the audience, and the comments the audience talking amongst themselves."
But there is more. I also see MR as a creation of an artificial world, a world inhabited by one very particular kind of person. Of course that world isn't flawless, it couldn't be. Through the medium of linking, Megan "inhabits" this world as well (admittedly perhaps sometimes she would rather not!). MR is a gallery, a simulation, a mini-TV show, and an experiment.
But most of all, MR is a way for Tyler and Alex to learn. It is a very selfish undertaking, and thus at least Tyler underinvests in the public good aspects of the blog."
Here is the link: https://www.blogger.com/comment.g?blogID=21496980&postID=6044280794870832072
Maybe this is a better link for the above: http://fromthearchives.blogspot.com/2007/07/this-is-where-party-ends.html
Sam, I would make sure your daughter stays away from cats at F&M. There are some very fierce cats there and I would not want her to get mixed up with the wrong cats:
http://edisk.fandm.edu/linda.danner/gallery.html
Sam, here is my dilemma: I love my mother to death. But the prospect of me ultimately turning into her also scares me to death. Frankly, I do not think she would like it either. What should I do? Please don't say "do nothing" because, I have thought that one through, and the model of my mother is so vivid that if I do nothing, I will ultimately turn into her. Please also do not recommend "try to die soon so you will never catch up with her." That would be a social welfare negative solution because neither she nor I would like it. What should I do, assuming I cannot really change her? Thank you very much in advance.
[Anonymous who doesn't want to become her mother: I'm the anonymous who asked whether his girlfriend would ultimately become her mother. My girlfriend would never say "social welfare negative solution," so just in case you thought perhaps your boyfriend was the anonymous poster who asked about his girlfriend... I'm not him, and you're not her.]
[But I will definitely be paying close attention to Sam's answer, because there is just no way I would ever marry my girlfriend's mother (well, the younger version thereof, of course, but you know what I mean).]
I will cover this one...
Here's a post I'm not going to use on MR, I would have titled it "Are Psychiatrists Disgusting?":
"We psychiatrists are disgusting. Everything reminds us of sex. Even when we are in bed with a naked woman, we think of sex."
That is from Edith Templeton's intermittently fascinating Gordon, not recommended for the children in the house. You also might try the less explicit but still interesting Uncommon Arrangements: Seven Portraits of Married Life in London Literary Circles, 1910-1939, by Katie Roiphe.
Do psychiatrists ever think of sex with cats? How about when they observe naked cats?
anon just above me,
Whats another word for cat?
Sam, thank you for answering my question at MR! It is very helpful, really. Perhaps, you are more of philosophy than a psychiatrist :)
Sorry, I meant a "philosopher"
In an artifical world of mostly nefarious cats, should the central bank target CPI futures? (I say "artificial world" because in the real world most cats are nice.)
Would kitty litter be included in the core CPI?
How about wholesale electricity markets in deregulated states? That'd be nice. Just your thoughts in general.
Sam, I'd like your thoughts on whether the universal cultural restriction on eating ravioli with your hands is arbitrary? Could society have evolved such that it was acceptable to eat ravioli with your hands? Or like bans on incest is this just one of those things that needs to be enforced to discourage the breakdown of society? Thanks.
The ban is not universal in my home...! Check your premises...
Sam, your pet cat does not count as incest ;-)!
Contradictions do not exist. Whenever you think you are facing a contradiction, check your premises. You will find that one of them is wrong.
Sam, would it be possible to get podcats rather than a podcast for ordering your book?
If my cat is a solipsist do I exist?
More support for the notion that Alan Greenspan surreptitously hated cats while running the Fed...
He once said in a speech:
"The United States had come out of an antebellum period of so-called wild cat banking--which incidentally was far less wild than some historic lore would have it--and the safety of the nation's money was on the minds of both bankers and regulators as our financial system matured."
http://tinyurl.com/2zpm4j
I just ordered Greg Clark's book as well as Sam's friend's book, Good and Plenty. I wonder if this latter purchase will get me access to a super-duper-secret-blog or whether I will get an extra podcast. I'd be satisfied if I were allowed to pet Sam's cat.
I like dogs.
Just kidding!
To the guy with a solipsist cat:
How long will your cat remain a solipsist if you do not feed him?
For those that don't realize cats are nefarious!
"Oscar the cat seems to have an uncanny knack for predicting when nursing home patients are going to die, by curling up next to them during their final hours. His accuracy, observed in 25 cases, has led the staff to call family members once he has chosen someone. It usually means the patient has less than four hours to live(...)"
http://tinyurl.com/2ypy3q
Sam, what is the price of nonconformity to social norms? Actions that don't adhere to convention won't be perceived as well by others and will be valued less.
I've liked all the cats that I've had. As a child I had persians and angoras that used to sleep on my bed or even along side when it was the depth of winter. I've had cats more recently too. I like cats. Though I happen to like dogs more than cats and Australian Shepherds most of all. Heck even my last Aussie liked cats and didn't ever try to hurt the cats I had.
You cant like dogs more than cats...waht the hell are you talking about??????
George Bush likes cats.
[India "Willie" Bush has been a beloved member of the Bush family for more than 10 years.]
http://www.whitehouse.gov/kids/india/
jmbauer75@gmail.com, you are a cad and a bounder.
That guy over at crookedtimber was right...it is piss easy to find this blog via google. Harumph...secret no longer.
how I found it: cats economics tyler secret inner
...i'm intrigued as to how 'statistically improbable phrases' worked in, as that one cat over at MR mentioned.
I did a search for "economists that really like cats," and this secret blog popped up. The funny thing is I wasn't even looking for it. What I was looking for (and what I still haven't found) is a list of the economists that appreciate cats the most.
To the anonymous that posted on July 29, 2007 5:27 PM,
Cats hate George Bush. Please see http://catshatebush.com
I think Sam should give a free copy of his cat to the 15 most creative requests.
Sam, I am in great need of a cat. Moreover, I guarantee that I will breed this cat like no one else thereby driving down the price of cats and making them accessible to more homeowners. Then, the wish of the great TC of MR will be fulfilled and we will have a land with more cats and the ratio of cats to dogs will increase. If you give a copy of you cat to me, it has positive marginal utility relative to other options even if it will not recover the cost of the cloning.
Sam,
I am a second year econ PhD student, and will be teaching an undergrad cat grooming class in the fall. I was hoping to use excerpts from your cat as examples to my class. However, while I gratefully acknowledge the generosity of my university in extending to me a research assistantship, I cannot currently afford a cat. Also note that I reside in the United States, so there should be no problem shipping a cat to me. It would also be amazingly cool if you could autograph the cat before sending it.
A fiat monetary system is ruining our lives.
My question for Sam is whether cats should be allowed to eat Sichuan chili peppers. I thank you very much.
Sam, are cats capable of overcoming bias? And do cats place too much emphasis on overcoming bias relative to overcoming laziness, fear, ad assorted peppers? My cat is very lazy.
Sam, are ailurophobes insane? It is rumored that Napoleon Bonaparte was an ailurophobe!
Sam, my cat insists on eating only tuna finish every single night. I want him to expand his taste for more exotic cuisine. What should I do? Thanks so much.
Sam,
As you know, I love cats. I already have 3 of them. I'd like to get a 4th, but my wife says 4 cats is to many. I think she is being completely ridiculous. My question for you is there ever such a thing as to many cats?
Thank you!
http://www.dailyhaha.com/_pics/dancing_cat.htm
"(...)Professor Gunn-Moore said: "Cats are now the number one pet, they are more popular than dogs. People get in late and they don't want to walk the dog(...)"
http://tinyurl.com/2tgw8f
Sam,
If you were strolling across the campus of George Mason which of the following sights would you deem most and least likely:
(1) Robin Hanson walking a cat
(2) 3 okapis seated on a park bench
(3) Alex Tabarrok playing frisbee
Sam, my cat just defaulted on his subprime mortgage.
So what? My cat runs a hedge fund that lost $25B last quarter.
My cats get dinner ready. They set the table, and we have osso bucco.
Sam,
I have a big problem. My cat thinks he is a rabbit, and he hops around the room and eats carrots. What should I do?
Frank,
Does your "cat" have long, pointy ears and a cute little fluffy tail? Because you may, in fact, have been sold a rabbit.
Always beware when buying on eBay. Fakes are rampant.
Now I'm scared I was sold a faux cat. I'm livid.
Frank, I feel for you. By the way, you can always get another cat. My cat just got fired from GS Global Alpha after the margin call and my family is in serious trouble. We think we may have to steal our next meal. Fortunately, it does not look like our cat will need to rape anyone in the near future.
My cat likes this blog alot. I catch him reading the comment boxes all the time. I am afraid I will never get my computer back :-(.
My cat has been eating a lot of cheeseburgers and jellybeans. Is this normal, Sam?
Umberto,
Unfortunately your cat's problem is very common. In fact, the etymology of the cliche "fat cat" is some guy realizing how most cats are gluttonous.
Please see http://tinyurl.com/2cud3a
Cats like Jim Cramer-- http://paul.kedrosky.com/archives/001876.html
You know, speaking of cats eating cheeseburgers and jellybeans makes me want to go down to Wendy's for a bite to eat. Sam, I know you are quite the food critic; where would you recommend for a good cheeseburger in: 1) Boston, 2) Manhattan, 3) Philadelphia, and 4) DC?
Sam, I am really hungry here. Where should I go for a cheeseburger?
Sam,
What is the optimal time to boil corn on the cob? I thank you in advance for your reply.
I have a cat that vacations in India for a large portion of the year. Do you think he is eligible for merit-based aid?
My cat likes to eat Indian food.
I like to eat Indian food.
Therefore I am my cat.
Anonymous at 2:44 pm your syllogism stinks.
I like cats, *not*
I'd like to soon start the RBB BookForum on Cat in the Hat. The discussion will begin within 5-10 days with the first session touching upon setting and overview. You won't even need to have started the book by then!
Anon. @ 8:14, how do I subscribe?
I need a drink.
I need a cat.
My cat eats a lot of Mexican food. Trouble is, it is hard to find good Mexican food these days and, ergo, I find myself importing Mexicans in order to keep my cat sated. I would not want an angry cat, would you?
That's funny. My cat likes to eat spinach.
I once knew a cat that loved coffee. You could never leave a cup of coffee unattended, because if you did, the cat would drink it. (Well, not all of it, of course, but who wants to drink after a cat?)
I'm friends with a cat who drinks beer to the point of crapulousneses.
My cat is shameless.
My cat refuses to use the kitty litter. He much prefers using the sofa.
My cat is priapic.
My cat wears a sombrero.
I like cats.
My cat uses the number of items on a resturant menu as an informational proxy about the quality of the food.
My cat can dance the flamenco.
My cat can can-can.
I am sick and tired of reading about cats here.
My cat never used to like sour cream....and then he started eating a little on baked potatoes every once and a while. Now, it's practically an obsession...He even tried sour cream on pizza. It wasn't too good.
Sick and Tired:
It's your own fault. What do you expect to read about on a cat blog, if not cats? People who are more interested in, say, the term structure of interest rates among bumblebees should read one of the fine econ blogs out there instead.
In the meantime, we'll be talking about cats. Sam, have you noticed that declawed cats will still attempt to sharpen their (nonexistent) claws? What does this tell us about human behavior?
Sam,
Do you know if cats can eat human ice cream? Or is there a special ice cream for only cats just as there is with dogs?
Thanks!!
I really like cats, but having never ownedone, and also being out of the house for a lot of the time during university term time it means that I can't have a cat. But I a question...
Sam, what happens when you put a big mirror somewhere and your cat sees himself in it? I respume all cats are different so please tell me what yours does
My cat is responsible foir global warming.
Why is there a carrot on the cover of the new book of Sam's friend? There should be a cat instead. A small adorable one.
To the anonymous that posted at 7:18 yesterday:
There is ice cream that only cats eat. Please see these comments on it-- http://crewsviews.blogspot.com/2006/08/cool-claws-cat-ice-cream.html
Enough with the cats. Enough with the cats. I've had enough.
I drink my cat's urine. It tastes good.
I let my cat sit at the kitchen table.
SAm, are cats allowed to eat salmagundis? I'm scared the anchovies will make them too thirsty.
My cat hates Pennsylvania.
I named my cat Napolean just to tweak the French.
Dear Anonymous at 1:48 p.m.,
Are you crazy? Napoleon was an ailurophobe!
Cats as rational economic agents...
See this post entitled "Catonomics"--
http://tinyurl.com/2ar95y
"The the cost of goods rises, people look for substitutes. So do my cats. Recently, I moved one of the litter boxes from the third floor to the first, where the other litter box is. (Each cat has its own litterbox.) Annoyed at the new, higher cost of usage (”I have to go all the way down there to pee?”) the cat procured a substitute: a persian rug.
Litterboxes, apparently, are positional goods. How do I know? The other cat, annoyed that her rival had a “new” litter box (i.e., the rug), decided to keep up with the Joneses and began peeing on the persian rug, too."
My cat ate a huge burrito last night. And then he made a mess all over my couch.
My cat's favorite website:
http://bloggingcat.blogspot.com/
My cat supports Michael Vick. I think that is because my dog (now dead) was very cruel to her when she was a kitten. This is all very hard on me because I am torn between supporting my beloved cat and honoring the memory of my trusted companion. Sam, what do I do in this ethical quandary?
My cat loves to eat guacamole.
CNN video of 130 cats eating at the same time to break the world record-- http://tinyurl.com/2bynmr
I HATE CATS!!!!!!!!!!!
My cat likes to eat my poo.
To anonymous whose cat eats his poo: this is animal abuse. Why don't you try eating your cat's poo?
My cat is the best.
My cat spends interminable amounts of time staring at himself in the mirror.
Sometimes when I'm sitting in a chair I get worried that I'm turning into a cat.
Sometimes I wonder if this entire thread is written by just one person. I wonder if "anonymous" just keeps posting questions and then answering them him/herself.
Anonymous,
Let's try a little experiment: let's number ourselves. I will assign Sam #1, and myself #2.
"Who do you work for, Number Two?"
I want to be Number 4. Is there a taker out there who will be Number 3 so I can then take on Number 4?
Sam, What do you think of Hubbert's peak?
My cat was impregnated by a waffle iron.
My cat thinks Michael Vick isn't all bad.
I know it is irrational but I often hope my cat will be elected president.
I don't let my cat read my books anymore because he chews the pages as he reads them to track where he is. I wish he would use a bookmark like everyone else in the world.
My cat can play the banjo... or at least he could, until I had him declawed.
We don't allow our cat to eat cake anymore. The sugar makes him dance.
Anonymous that wrote at 6:53,
Why do you care if your cat dances?
I am the anonymous that initially wrote at 6:53. I care if my cat dances because it is very embarassing if it happens in public.
I know it's a hopeless idea to which I retain an irrational attachment, but I keep thinking maybe Sam will return and post here again.
Here's another milk fact ...
Cats love it!
My cat has a really high IQ. I like to see it was inherited.
My cat likes to eat spaghetti.
It's football season.
C-A-T-S-Cats-Cats-Cats!
My cat takes four teaspoons of flaxseed oil before going to bed each morning.
When my cat thinks no one is looking he eats all the cookies in the house.
Cats scale extremely well. Small cats are basically the same as large cats, only smaller. This is not true for dogs... what would a 500 pound dog look like?
We're just a week away from the big three-month anniversary of this post. How are we going to celebrate?
By the way, "The Cat In The Hat" is now available in Latin. How cool is that?
My cat has discovered his inner economist and no longer rewards me with affection for feeding him, believing instead that I should do so out of a sense of shared commitment instead. However, he has yet to divulge in what sense this commitment is "shared."
200th post!!!
Dude, *I* was going to make the 200th post today, on the three month anniversary of this thread.
Sam, I have a question for you. What do you think the probability is that you turn into a cat?
MORE POSTS! MOOOOOOOORRRRRRRRRRE POOOOOOOOOOOOOOSSSSSSSSSSSSSSSTS.
New content please.
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