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Comments on: Economists and values http://www.tvhe.co.nz/2010/07/01/economists-and-values/ The Visible Hand in Economics Fri, 16 Jul 2010 08:06:50 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Elcid http://www.tvhe.co.nz/2010/07/01/economists-and-values/#comment-26456 Fri, 16 Jul 2010 08:06:50 +0000 http://www.tvhe.co.nz/?p=5133#comment-26456 Nice cartoon and funny…
Hahahahhah good post
Thank you for the funny posted
Elcid

]]> By: hansol http://www.tvhe.co.nz/2010/07/01/economists-and-values/#comment-26440 Thu, 15 Jul 2010 05:25:37 +0000 http://www.tvhe.co.nz/?p=5133#comment-26440 Great webcomic 🙂

]]> By: Jeremy http://www.tvhe.co.nz/2010/07/01/economists-and-values/#comment-26437 Wed, 14 Jul 2010 21:36:28 +0000 http://www.tvhe.co.nz/?p=5133#comment-26437 Amusing comic. It may make the economist look cold, but he is just being a realist as his profession trained him to be.

]]> By: Locksmiths http://www.tvhe.co.nz/2010/07/01/economists-and-values/#comment-26428 Tue, 13 Jul 2010 00:42:27 +0000 http://www.tvhe.co.nz/?p=5133#comment-26428 Yep, I’m definitely a “normal person” and I’m guilty of sometimes hiding the trade-offs. Now that you mention it, that does make my agenda and my recommendations less transparent.
Hmmm, something else to think about.

]]> By: rainer http://www.tvhe.co.nz/2010/07/01/economists-and-values/#comment-26411 Sun, 04 Jul 2010 17:05:45 +0000 http://www.tvhe.co.nz/?p=5133#comment-26411 like this one… just like my teacher always said :

“when everyone said something same. just see their background, and you will know what they actually want to says.”

nice

]]> By: Eric Crampton http://www.tvhe.co.nz/2010/07/01/economists-and-values/#comment-26406 Fri, 02 Jul 2010 11:29:31 +0000 http://www.tvhe.co.nz/?p=5133#comment-26406 $1.54 m is way too low. Viscusi’s estimates are around $7 million, which is also then about the figure used in government cost-benefit analyses.

Go check on SSRN. The Ashenfelter number is way on the low side.
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=379270

Oh: and Cowen agrees with me on which team ought win the soccer thing.

]]> By: Matt Nolan http://www.tvhe.co.nz/2010/07/01/economists-and-values/#comment-26404 Fri, 02 Jul 2010 02:52:10 +0000 http://www.tvhe.co.nz/?p=5133#comment-26404 @steve

Surely that only provides an upper limit on the value of a life, as an individual is likely to be subject to the endowment effect with their own lives 😉

We need to ask a person BEFORE they are alive how much they would be willing to trade to not live 😛

]]> By: steve http://www.tvhe.co.nz/2010/07/01/economists-and-values/#comment-26403 Fri, 02 Jul 2010 02:47:00 +0000 http://www.tvhe.co.nz/?p=5133#comment-26403 If you’re interested ediwm discussed the same cartoon and linked to a study with the value of a human life http://www.dailyprincetonian.com/2002/10/09/5646/

The value of an average life in the US is 1.54 million. Its based on how much people increase their speed of driving compared to time saved due to speeding, average wage and the increase in risk of losing one’s life.

]]> By: Tony Accardo http://www.tvhe.co.nz/2010/07/01/economists-and-values/#comment-26401 Thu, 01 Jul 2010 16:26:18 +0000 http://www.tvhe.co.nz/?p=5133#comment-26401 Hehe! This is really pun-ny! Love this kinda humor. Keep posting. The error bar could be as wide as Bill Gates’ worth, or all the property on the Earth 😛

]]> By: Matt Nolan http://www.tvhe.co.nz/2010/07/01/economists-and-values/#comment-26394 Wed, 30 Jun 2010 22:11:49 +0000 http://www.tvhe.co.nz/?p=5133#comment-26394 @Eric Crampton

Agreed. We had the same conversation about the size of the error bands at work 😛

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