My del.icio.us bookmarks for September 15th
17 09 2007These are my links for September 15th:
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These are my links for September 15th:
An amusing excerpt from something I was listening to while walking to work this morning:
One of the earliest and most aggressive exponents of this economic imperialism was Gary Becker, the Chicago economist par excellence, who in an article published in one of the profession’s most prestigious journals applied the principles of microeconomics and consumer behaviour to what he called the market for marriage. Becker defined marriage as an arrangement to secure the mutual benefit of exchange between two agents of different endowments. In other words, people marry in order more efficiently to produce ‘household commodities’, including ‘the quality of meals, the quality and quantity of children, prestige, recreation, companionship, love, and health status’. The rational person will base any marriage decision on quantifiable costs and benefits. The gain from marriage has to be balanced against the losses – including legal fees and the costs of searching for a mate – to determine whether marriage is worthwhile.
Becker went on to analyse the effect of ‘love and caring’ on the nature of the ‘equilibrium in the marriage market’. To do so he defined love as ‘a non-marketable household commodity’, noting that more love between potential partners increases the amount of caring and that this in turn reduces the costs of ‘policing’ the marriage. Policing, of course, is needed ‘in any partnership or corporation’ because it ‘reduces the probability that a mate shirks duties or appropriates more output than is mandated by the equilibrium in the marriage market’. There’s no need to put a padlock on the fridge if your partner loves you. After pages of differential calculus, Becker reaches a triumphant conclusion: since love produces more efficient marriages, ‘love and caring between two persons increase their chances of being married to each other’.
What Becker’s wife thought about this analysis is not recorded, but in 1992 the Royal Swedish Academy of Sciences was sufficiently impressed to award him the Nobel Prize for Economics for this and related work.
These are my links for September 12th:
Which College Major Should You Be? |
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Your major should be part Biology. You work hard, and you’re gonna keep working hard for many years to come. That’s why you keep your work organized and your health in good shape. |
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Your major should be part Engineering. Logic is your friend. With enough work, you can find a solution to anything… Unless it involves dating or parties. |
| Find Your Character @ BrainFall.com | |
These are my links for September 9th: