Tuesday, September 30, 2014
Maddie Binning, Chapter 2, Question #7
The analysis of incentives and how they can often be misused was very enlightening to me. While it seems obvious that offering benefits or restrictions on an act or product could persuade a person to do something, the complexities of how humans may respond are often overlooked. It seems that this is one of the primary reasons that economists are still essential to the functioning of a country. If requiring car seats for young children on planes could cause more deaths, that is a determination that must be made. It has introduced the deep analysis of human motive to me. As formerly mentioned, while it's obvious that humans react to incentives, the economic thought process brings in a new element in the consideration of alternatives, evasions and the like.
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