Tags » David Friedman

The power and self-discipline of parsimonious analysis

Some bristle over the small size of the basic analytical tool kit of economists and the leanness of the behavioural assumptions therein (Stigler 1987). 

Simpler explanations and more parsimonious abstractions are better ‘engines for the discovery of concrete truth’ about how people will respond to changes in their economic and social environments. 282 more words

Economics

Review: Elizabeth of Starland

So in one of life’s gentle ironies, Alma Boykin reviewed one of my books this week, when I was planning to review hers. We hadn’t talked about it beforehand, nor did I realize that today is the launch day for her new book in the Colplatschki series. 582 more words

Fiction

David Friedman - Application of Economic Analysis to the Law

Legal rules exist to change what people do…

Economics deals with how people respond to incentives…

Economics can both help make sense of the law and help decide what the law should be…

37 more words
Law And Economics