The “mystery” of the endowment effect

posted by
December 28, 2011
Ludwig von Mises Institute
by Per Bylund  
Posted in Commentary

"The development of modern neoclassical economics is the story of how a discipline lost its way. Before the mathematization of economics, economists tried to explain prices and macro patterns in the market place from individual human action. But modern 'mathonomics' has evolved into a subfield of mathematics with no obvious ties to the real economy." (12/28/11)

http://mises.org/daily/5839/The-Mystery-of-the-Endowment-Effect  

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