Monday, February 29, 2016

Animations of agents subject to a budget contraint

Since Noah Smith wants to see slides, I'm going to try and put some together (in part for my talk in June). Here's an animation of when an information equilibrium description of economics would apply for agents that have a choice of two goods with the same price and a budget constraint:


And here's what it could look like if behavioral economics got involved. These could represent a recession (left) or a shift in preferences (right) from both goods to a single good (e.g. betamax vs VHS):





5 comments:

  1. Jason, were you in contact with Noah?

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  2. Neat animations. :)

    It seems to me that behavioral economics includes all three of them. :)

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  3. I think that, when Noah was talking about slides, he meant something more like this, but maybe I'm wrong...

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    1. Oh, yes, that's what I was doing ...

      http://informationtransfereconomics.blogspot.com/2016/02/slides.html

      The above post just represents an experiments in graphical information transfer ... (and didn't end up getting used)

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