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Comments on: Splitters and lumpers http://www.tvhe.co.nz/2012/11/16/splitters-and-lumpers/ The Visible Hand in Economics Fri, 16 Nov 2012 15:47:00 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: jamesz http://www.tvhe.co.nz/2012/11/16/splitters-and-lumpers/#comment-40218 Fri, 16 Nov 2012 15:47:00 +0000 http://www.tvhe.co.nz/?p=7740#comment-40218 In reply to Matt Nolan.

I was saying that. But it could still be that the expected income of each type is very close and people choose between them largely based on risk preference.

]]> By: Matt Nolan http://www.tvhe.co.nz/2012/11/16/splitters-and-lumpers/#comment-40217 Fri, 16 Nov 2012 11:54:00 +0000 http://www.tvhe.co.nz/?p=7740#comment-40217 In reply to jamesz.

Sorry I assumed your comment was stating that we only provide, ex-ante, a positive probability of superstardom to lumpers. As a result, this potential benefit only exists if you decide to take the lumper path rather than the splitting path.

]]> By: jamesz http://www.tvhe.co.nz/2012/11/16/splitters-and-lumpers/#comment-40216 Fri, 16 Nov 2012 07:00:00 +0000 http://www.tvhe.co.nz/?p=7740#comment-40216 In reply to Matt Nolan.

I don’t know much about superstar effects, but doesn’t it depend on the risk preferences of the economist population? Assuming that only the few superstars achieve more than the average economist.

]]> By: Matt Nolan http://www.tvhe.co.nz/2012/11/16/splitters-and-lumpers/#comment-40210 Thu, 15 Nov 2012 20:06:00 +0000 http://www.tvhe.co.nz/?p=7740#comment-40210 “Perhaps the real problem is that we provide stardom to one group, while
passing over the importance of all the splitting that came before.”

This would lead to too many lumpers right, interesting.

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