Assorted links

1) Cass Sunstein, someone “whose philosophies have captured the moment,” says Newsweek, which named him one of its thinkers of 2008.

2) May everyone be quoted this accurately (and literally) by USA Today.

When you diversify, you spread risk among several different types of investments. And diversification is a good strategy. Don’t believe it? Ask someone whose entire retirement plan was in Bear Stearns stock. Or in Lehman Bros. stock.

“Puh-leeze,” says Richard Thaler, professor of economics at the University of Chicago. “Any mutual fund is more diversified than the company you work for.”

3) Behavioral Bias 1004: On average, when asked, people overestimate the length of time they stood in a line by 50 percent.  From a talk by about airport design by Paco Underhill at the 2008 New Yorker Festival.

4) Another economist with a commitment strategy for publishing.

David Laibson knows that when he procrastinates, mere deadlines are not always enough to get him going. So, when this Harvard economics professor collaborates on a major project, he’ll sometimes promise to deliver a finished product by a certain date — or else pay his co-authors $500.

From CNN.


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