Dr. Joy Buchanan on Understanding Economics through Experiments
Dr. Joy Buchanan on Understanding Economics through Experiments
Episode #006
Introduction
Dr. Joy Buchanan is a renowned economist, currently serving as an Assistant Professor at Samford University's Brock School of Business. Her research focuses on behavioral and experimental economics, exploring how individuals make decisions in various economic and social contexts. Dr. Buchanan is known for her work on the experimentalist school of economics, which examines economic phenomena through controlled experiments, providing valuable insights into human behaviour and decision-making processes.
In this episode of The Inductive Economy, Dr. Buchanan discusses a variety of topics exploring the depths of economic theory and its application in today's world. From discussing Tyler Cowen's "GOAT" to diving into the experimentalist school of economics, and examining the influence of media on learning, this episode is packed with insightful discussions. We also explore how technology affects job training, particularly in countries like India, and delve into the role of intellectual property in wealth creation. Tune in for a comprehensive analysis and enjoy a rapid-fire segment to wrap up our discussion.
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Selected Links
Books and Movies Mentioned
G.O.A.T: Who is the Greatest Economist of all Time and Why Does it Matter?
by Tyler Cowen
The View from the Cheap Seats
by Neil Gaiman
The Complacent Class: The Self-Defeating Quest for the American Dream
by Tyler Cowen
Society of Mind Lectures by Marvin Minsky | MIT OCW
What is generative AI and how does it work? [The Turing Lectures with Mirella Lapata]
Taylor Swift: The Eras Tour (2023)
People Mentioned
Ideas & References Mentioned
Replication Crises in Social Sciences
Willingness to Be Paid: Who Trains for Tech Jobs?
by Joy Buchanan, Labour Economics (2022)
What is Generative AI and How Does it Work? (The Turing Lectures with Mirella Lapata)
Do People Trust Humans More Than ChatGPT?
by Joy Buchanan, William Hickman, GMU Working Paper in Economics No. 23-38 (2023)
Oppenheimer Film Thoughts
by Joy Buchanan
Joy on the Barbie Movie
by Joy Buchanan
Claudia Goldin on the Economics of Inequality [Conversations with Tyler]
Competition as a Discovery Procedure
by F.A. Hayek
An Experiment on Protecting Intellectual Property
by Joy A. Buchanan and Bart J. Wilson, Experimental Economics (2014)
Time Stamps
00:00 - 01:13 - Cold Open and Theme
01:14 - 05:59 - On ‘GOAT’ by Tyler Cowen
06:00 - 07:39 - Joy answers: ‘Who’s the GOAT?’
07:40 - 11:42 - Joy answers: ‘Who’s an Underrated GOAT Candidate?’
11:43 - 15:46 - What’s the Experimentalist School of Economics?
15:47 - 34:11 - Tech Jobs, Training, and India: What drives the Training Needs of the Future?
34:12 - 38:35 - The Impact of Media on Learning
38:36 - 41:36 - Learning: Project-based Path vs. Prestige-based Path
41:37 - 49:04 - Leisure, Abundance, and the Barbie Movie
49:05 - 54:55 - What if Economists influenced the Barbie movie screenplay?
54:56 - 01:05:12 - On Hayek’s ‘Competition as a Discovery Problem’ paper
01:05:13 - 01:16:16 - Intellectual Property and Wealth Creation
01:16:17 - 01:17:09 - On Elinor Ostrom
01:17:10 - 01:28:23 - Rapid Fire Segment and Thanks
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