Economics Job Market Rumors Forum: Microeconomics - Recent Posts
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Economist on "Applied Theory vs. Pure Theory"
https://www.econjobrumors.com/topic/applied-theory-vs-pure-theory/page/2#post-5481825
Sun, 29 Mar 2020 10:20:54 +0000Economist5481825@https://www.econjobrumors.com/<p>Akerlof is pure theory. It doesn't have to be hard to be pure theory. Akerlof provides a general theory concept, "adverse selection", which can be applied to many different settings.</p>
<p>A paper which then takes the concept of adverse selection, and applies it to a particular setting, airline insurance, along with some particular features regarding the insurance of airliners in order to explain some features of the airline insurance market. That's applied theory.
</p>Economist on "Applied Theory vs. Pure Theory"
https://www.econjobrumors.com/topic/applied-theory-vs-pure-theory/page/2#post-5481811
Sun, 29 Mar 2020 09:58:59 +0000Economist5481811@https://www.econjobrumors.com/<p>When people say that the theory job market is bad, do they mean both applied and pure theory?
</p>Economist on "Applied Theory vs. Pure Theory"
https://www.econjobrumors.com/topic/applied-theory-vs-pure-theory/page/2#post-5480515
Sat, 28 Mar 2020 22:55:18 +0000Economist5480515@https://www.econjobrumors.com/<p>Yes</p>
<blockquote><p>So is Akerlof's market for lemons applied theory? It seems more similar to Moriss' "Political Correctness" than Weinstein & Yildiz's "A structure theorem for rationalizability with application to robust predictions of refinements"</p>
<blockquote><p>
Applied theory = the mathematics associated with a particular concrete economic story<br />
Pure theory = the mathematics motivated by the type of stories economists as a group like to tell<br />
Good work of either group can be of interest to the other.<br />
Morris wrote an applied theory paper called "Political correctness". It's applied theory, because he had a concrete story of a policy-maker dealing with a better informed advisor who wants his future advice taken seriously. It's still of interest to pure theorists because it makes a deeper theoretical point about how reputational motives can destroy cooperation even between people with aligned interests.<br />
Weinstein & Yildiz wrote a pure theory paper called "A structure theorem for rationalizability with application to robust predictions of refinements". It's pure theory, because it's about solution concepts of abstract games of incomplete information. It's still of interest to applied theorists because it says that any but our weakest solution concepts is extremely sensitive to the finer details of how we model players' beliefs.<br />
</blockquote></blockquote>Economist on "Applied Theory vs. Pure Theory"
https://www.econjobrumors.com/topic/applied-theory-vs-pure-theory/page/2#post-5480452
Sat, 28 Mar 2020 22:26:31 +0000Economist5480452@https://www.econjobrumors.com/<p>What's pure theory? Re-inventing some real analysis that mathematicians knew about for 200 years?
</p>Economist on "Applied Theory vs. Pure Theory"
https://www.econjobrumors.com/topic/applied-theory-vs-pure-theory/page/2#post-5480423
Sat, 28 Mar 2020 22:18:43 +0000Economist5480423@https://www.econjobrumors.com/<p>So is Akerlof's market for lemons applied theory? It seems more similar to Moriss' "Political Correctness" than Weinstein & Yildiz's "A structure theorem for rationalizability with application to robust predictions of refinements"</p>
<blockquote><p>
Applied theory = the mathematics associated with a particular concrete economic story<br />
Pure theory = the mathematics motivated by the type of stories economists as a group like to tell<br />
Good work of either group can be of interest to the other.<br />
Morris wrote an applied theory paper called "Political correctness". It's applied theory, because he had a concrete story of a policy-maker dealing with a better informed advisor who wants his future advice taken seriously. It's still of interest to pure theorists because it makes a deeper theoretical point about how reputational motives can destroy cooperation even between people with aligned interests.<br />
Weinstein & Yildiz wrote a pure theory paper called "A structure theorem for rationalizability with application to robust predictions of refinements". It's pure theory, because it's about solution concepts of abstract games of incomplete information. It's still of interest to applied theorists because it says that any but our weakest solution concepts is extremely sensitive to the finer details of how we model players' beliefs.
</p></blockquote>Economist on "Doctors told the general public masks weren't needed so they could have them"
https://www.econjobrumors.com/topic/doctors-told-the-general-public-masks-werent-needed-so-they-could-have-them#post-5461064
Mon, 23 Mar 2020 10:26:40 +0000Economist5461064@https://www.econjobrumors.com/<p>medical doctors = tradesmen in white coats
</p>Economist on "Doctors told the general public masks weren't needed so they could have them"
https://www.econjobrumors.com/topic/doctors-told-the-general-public-masks-werent-needed-so-they-could-have-them#post-5461058
Mon, 23 Mar 2020 10:18:44 +0000Economist5461058@https://www.econjobrumors.com/<blockquote><p>They sure did that with masks. Evil. Link to reports about hoarding chloroquine?
</p></blockquote>
<p>Pharmacists are discussing it here.</p>
<blockquote><p>Meanwhile doctors are frantically trying to hoard it for themselves. They're trying to prescribe it for themselves and their families, #180 of it for 3 months for each person. And these aren't even hospital employees! Random primary care docs, podiatrists, everyone's coming out of the woodwork.</p>
<p>My pharmacy only has about #800 of it in stock, and about 5 Lupus/Rheumatoid Arthritis patients that take it. Oh and it's also on a backorder right now.</p>
<p>I and my partner pharmacists have denied over two dozen scripts for it in the last two days. I have had to take a scorched earth policy, telling all these new Rheumatoid Arthritis patients that if this is fake, They and their entire families will be banned, as well as their doctor and their doctor's families, and their doc will get a Board of Medicine complaint for each script I get. Suddenly no one's interested any more.</p>
<p>And that was just the last two days. Next week will be worse.
</p></blockquote>Economist on "Doctors told the general public masks weren't needed so they could have them"
https://www.econjobrumors.com/topic/doctors-told-the-general-public-masks-werent-needed-so-they-could-have-them#post-5461041
Mon, 23 Mar 2020 10:01:38 +0000Economist5461041@https://www.econjobrumors.com/<p>They sure did that with masks. Evil. Link to reports about hoarding chloroquine?
</p>Economist on "Doctors told the general public masks weren't needed so they could have them"
https://www.econjobrumors.com/topic/doctors-told-the-general-public-masks-werent-needed-so-they-could-have-them#post-5461038
Mon, 23 Mar 2020 10:00:22 +0000Economist5461038@https://www.econjobrumors.com/<p>Along with their AMA cartel, there are now reports of them hoarding hydroxychloroquine for themselves and their family members. LOL at these vultures.
</p>Economist on "Arzela Ascoli in theory papers"
https://www.econjobrumors.com/topic/arzela-ascoli-in-theory-papers#post-5454083
Sat, 21 Mar 2020 15:08:15 +0000Economist5454083@https://www.econjobrumors.com/<blockquote><p>It is in baby Rudin, theorem 7.25.
</p></blockquote>
<p>So it is. Thanks for pointing that out. I don't see how this version of the theorem is useful?
</p>