Tuesday, October 05, 2010

Psychology, Virtual Money and Curbing Inflation

I know, I have to go back to work, but I have to share this story about Psychology, Virtual Money and Curbing Inflation.

It reminds me one of my prof did a study about media and recession. The more media talks about recession, the longer the recession lasts.

2 comments:

colson said...

You rightly pointed out placebo/make belief sometimes can do the trick.

However.

In my professional years one of my motto was 'don't be too naive in the company of economists but by all means keep all psychologists at bay'.

(Btw: As far as I know it was only after Lula became president that Brazil prospered and became an economic tiger)

triesti said...

By that account, what would you make of Kahnemann's field?