Thursday, December 7, 2017
Another Video on the Shapiro and Stiglitz Model
This one is about social efficiency in their model. Here it is:
Reminder: A totally optional discussion group
If you are interested, please indicate that either by commenting on this post or by sending me an email.
For your convenience, the previous post about the discussion group is reproduced below.
* * * * *
I normally make this announcement at the start of December, but this year we seem to have a large number of students who will graduate after this semester. I wanted those students to be aware of this possibility, in case you do stick around town for the spring. You would be more than welcome to be part of the group, although you would no longer be enrolled at the U of I.
The last few years I have invited students to join me in the spring for a weekly discussion group on the topic of how they might get more out of their learning. Four years ago, I didn't get enough nibbles. Three years ago I had three takers. We met each Friday afternoon throughout the spring semester. It was an interesting experience, unusual for both the students and for me. Two years ago I had two takers initially, but one soon dropped. The other person was extremely shy and it was kind of odd to have conversations with him. We went for a while but didn't meet quite as regularly. Likewise, last year I had one student in the spring and it was more mentoring than discussion group. I have another student this fall, where again it is more mentoring. The mentoring thing is okay, but for students with an eye on the job market, I'm probably not the right person to mentor that. I think the discussion group approach would be more interesting, but it does take a few students to make a group.
This year I'd like to do something similar but on a different topic. I maintain a reading list on leadership and learning. We might start with a few pieces from there to help us find a rhythm. After that, I'd hope that students would offer up their own pieces for us to discuss.
When the group seemed to work well we went for somewhere between 90 minutes and two hours and met in BIF. That much of what we did I'd like to keep. Based on that experience the ideal number of students is at least 3 and probably no more than 5. If we can get that this time around we'll be a go.
For your convenience, the previous post about the discussion group is reproduced below.
* * * * *
I normally make this announcement at the start of December, but this year we seem to have a large number of students who will graduate after this semester. I wanted those students to be aware of this possibility, in case you do stick around town for the spring. You would be more than welcome to be part of the group, although you would no longer be enrolled at the U of I.
The last few years I have invited students to join me in the spring for a weekly discussion group on the topic of how they might get more out of their learning. Four years ago, I didn't get enough nibbles. Three years ago I had three takers. We met each Friday afternoon throughout the spring semester. It was an interesting experience, unusual for both the students and for me. Two years ago I had two takers initially, but one soon dropped. The other person was extremely shy and it was kind of odd to have conversations with him. We went for a while but didn't meet quite as regularly. Likewise, last year I had one student in the spring and it was more mentoring than discussion group. I have another student this fall, where again it is more mentoring. The mentoring thing is okay, but for students with an eye on the job market, I'm probably not the right person to mentor that. I think the discussion group approach would be more interesting, but it does take a few students to make a group.
This year I'd like to do something similar but on a different topic. I maintain a reading list on leadership and learning. We might start with a few pieces from there to help us find a rhythm. After that, I'd hope that students would offer up their own pieces for us to discuss.
When the group seemed to work well we went for somewhere between 90 minutes and two hours and met in BIF. That much of what we did I'd like to keep. Based on that experience the ideal number of students is at least 3 and probably no more than 5. If we can get that this time around we'll be a go.
Tuesday, December 5, 2017
Why people don't engage more in experimental consumption.
This piece is interesting - both because it ties into what we were saying in class today - name brands want repeat customers and get them if people don't experiment with the knock-off brands that are really just as good - and because it says something about a certain type of risk aversion.
I will note here that when I was your age (or a year or two older in graduate school) I did experiment eating spicy food. Then, there was good Thai places in Chicago that were inexpensive, so a grad student could go out and have an interesting meal. I would never eat that stuff today, my body can no longer handle spicy stuff. So in that dimension I am much more risk averse than I once was.
In other dimensions, I believe, I still like to experiment. The quiz of the day that we've been doing the last couple of weeks gives an experimental approach of sorts. I suspect you won't see something like that in your other classes. I wonder if participating in it will encourage you to do a bit more experimental consumption on your own - and not just in the food you consume, but in the activities you undertake.
I will note here that when I was your age (or a year or two older in graduate school) I did experiment eating spicy food. Then, there was good Thai places in Chicago that were inexpensive, so a grad student could go out and have an interesting meal. I would never eat that stuff today, my body can no longer handle spicy stuff. So in that dimension I am much more risk averse than I once was.
In other dimensions, I believe, I still like to experiment. The quiz of the day that we've been doing the last couple of weeks gives an experimental approach of sorts. I suspect you won't see something like that in your other classes. I wonder if participating in it will encourage you to do a bit more experimental consumption on your own - and not just in the food you consume, but in the activities you undertake.
Submissions for today's quiz.....And the winner is...
1. From L - When is a door not a door?
2. From E - Imagine you are in a dark room. How do you get out?
This next one is not an official submission since it is from my brother and he got a prize recently so he doesn't need bonus points from me. But, sequentially, it came in the middle of the pack. And quality-wise it fits.
3. From A - How do you make 30 cents out of two coins, if one of the coins isn't a nickel?
4. From R - Why is a sandbox so expensive at Whole Foods?
It's sold as gluten-free pancake mix.
And from Professor Arvan - no joke but a serious question.
What does the word copacetic mean?
2. From E - Imagine you are in a dark room. How do you get out?
This next one is not an official submission since it is from my brother and he got a prize recently so he doesn't need bonus points from me. But, sequentially, it came in the middle of the pack. And quality-wise it fits.
There are 10 types of people in the world, those who understand binary and those who do not.
3. From A - How do you make 30 cents out of two coins, if one of the coins isn't a nickel?
4. From R - Why is a sandbox so expensive at Whole Foods?
It's sold as gluten-free pancake mix.
And from Professor Arvan - no joke but a serious question.
What does the word copacetic mean?
Sunday, December 3, 2017
Principal not Principle/Submissions for In Class Quiz
As many students have confounded the two words in the most recent blog posts, I thought I'd belabor the meaning. There are many possible definitions of principal. For us, definition 6 is the most relevant one.
In contrast, principle has really only one meaning, though they give three ways for providing that meaning. A principle is an underlying rule or tenet. In our class you have been exposed to the Efficiency principle, given in M&R.
It would be good to keep these straight in the future.
* * * * *
There are now two submissions for the in class quiz on Tuesday. Get your submission in, to make it a real contest.
a person who takes a leading part in any activity, as a play; chief actor or doer.
In contrast, principle has really only one meaning, though they give three ways for providing that meaning. A principle is an underlying rule or tenet. In our class you have been exposed to the Efficiency principle, given in M&R.
It would be good to keep these straight in the future.
* * * * *
There are now two submissions for the in class quiz on Tuesday. Get your submission in, to make it a real contest.
Quite an interesting piece about gender bias and venture capitalism.
I thought this Op-Ed relevant to the class because one team wrote their paper on venture capitalism. So while we haven't discussed it in class, it is something students should be aware of. The author has quite strong credentials to write this piece:
What she describes is a kind of market failure based on gender bias. Hmmm.
"I have seen it up close in the two worlds I know best: Wall Street, where I was chief executive of Smith Barney and of Merrill Lynch Wealth Management, and in Silicon Valley, where I’ve raised money to run my start-up, Ellevest."
What she describes is a kind of market failure based on gender bias. Hmmm.
Points on the Second Quiz - Update
It looks like I was able to change the scale to 50 points (what it should have been) with a simple adjustment. I did that a few minutes ago. So now the grade book is correct.
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