Economists Do It With Models

Warning: “graphic” content…

Bookmark and Share
A Simple Guide For Locating Your Economic Spirit Animal…

August 21st, 2013 · 4 Comments
Fun With Data · Policy · Uncategorizable

As someone who not only wants to learn as much as possible about academic research in economics but also understand where the prominent thought leaders in the field stand, I’ve been fascinated for a while now with the University of Chicago’s Initiative on Global Markets Economics Experts Panel. (If you’ve been playing along at home, you may notice that I brought this resource to your attention a while ago.) This dataset is cool because it asks a bunch of hotshot economists a number of policy-related questions and then collects their answers in agree/disagree form as well as a rating of their confidence in their answers and comments on the issue at hand.

It’s not particularly surprising to me that the economists surveyed have a clear consensus on some issues but are more divided on others. Also, as I look through the responses, I usually take stock of which economists answered in the way that I would have answered. (Narcissistic, but true.) As such, I was super excited to learn that there is now a home version of the game that allows you to answer the questions posed to the expert panel and keeps track of which economist you are most similar to overall. Why didn’t I think of this????

One helpful thing to note is that the tool doesn’t force you to answer all of the questions, so you’ll probably get a more accurate match if you omit rather than guess. (If you look at the original survey, “neutral” actually maps to “uncertain,” and there is an option for “no opinion,” so keep this in mind when you answer the questions yourself.) I also wish the system would also weight by degree of confidence, but that’s just being kind of greedy. In any case, I definitely think that this is a better use of time then all of those “Which Spice Girl Are You?” quizzes (Can someone please explain why there is no Behavioral Spice?), so you should definitely check it out.

In case you’re curious, Richard Thaler is my spirit animal. *nudge*

Tags: Fun With Data · Policy · Uncategorizable

4 responses so far ↓

  • 1 Jeff // Aug 22, 2013 at 3:05 am

    Wow, intense! Now I know exactly how much I disagree with the economics community and in what ways. I started to write a long response but emailed it to myself instead. Highlights?

    * it seems those silly economists have some strange ideas concerning the benefits of free trade.
    * we might have to agree to disagree on health care
    * Have they been looking at the same tax cuts that I have?
    * Re: the sequester. Oops, I seem to have accidentally peaked at the answer.
    * Are we talking about monetary policy for the same Japan?
    * Are we seriously having a discussion on whether ticket scalpers will provide better prices and be easier to locate than Ticketmaster? Anybody know any music economists???
    * Seems like a lot of questions about what conventional analysis thinks… Objection! Hearsay!
    * did I mention free trade issues?

    Net result? About 40 bright yellow boxes with probably about 5-10 that I decided were either my bad or a difference of interpretation of the question. Also, Emmanual Saez was my closest with mentions from Hyun Song Shin and Richard Thaler during the process.

    Oh, and we’ve got to do something about this weird free trade consensus.

  • 2 mike shupp // Aug 22, 2013 at 9:11 pm

    Apparently my views are closest to Barry Eichengreen. I recognize the name but he doesn’t pop up that often on the internet. YOU’RE at Berkeley — why don’t you persuade him to start a blog, so I’ll have an easier time figuring out what my opinions are?

  • 3 mike shupp // Aug 23, 2013 at 3:52 am

    Oh shucks — I confused you with Carola Binder. Sigh! Is there some famously unobservant economist I should be comparing myself to?

  • 4 the Hornets jersey // Jun 4, 2014 at 9:37 pm

    womens Oilers jersey With Paypal Payment

Leave a Comment