ccgoal

Thanks, you guys! I can see people almost back up the validity of economic modelling since it indeed is the sign of economics. However, I have one question that's been puzzling for a long time. Is there any research that shows the relationship between the (neo-classical) modelling and the actual behavior? By this I mean on the one hand we make our decisions in the real world almost doing no calculations (Bayes Rule, complicated probability and so on), while on the other hand, in economic models, each step is math intensed. Without such connection, how can the results of researches that build on these models with smart agents (even for many BE models as mentioned) be reliable? So far, I can only recall John List' s paper on the comparison between Neoclassical and Prospect theory in the field showing that for experienced subjects neoclassical theory works well.:hmm:

I would like to hear you guys' opinion on behavioral economics (BE). Though under the name of behavioral, I see little difference between BE and Neo-classical style in terms of the ability to solve complicated optimization problem of agents. (For example, say, in Laibson's hyperbolic discounting paper). I think this point is also emphasized in one of Rubinstein's working paper. I guess one of the reasons it to get published in mainstram journals using such math. But other than that, do you think it's really necessary to use math like this just to describe the real behavior, which is simple and random in most cases (I think)?

I will be there, too, Econ!

Thanks a lot for all these vauable input, hopefully it will be automatically taught if my class needs it.

Hi all, just want to check whether this is worth learning, and also the subsequential optimal control. I know little about that, but one of my professors said that it's kinda out of date. But Even in Acemoglu's book one can still find related chapters. And what is the role of optimal control? Is it replaced by dynamic programming or otherwise? I don't have any clue.:hmm: Thanks for your comment;)

Congratulations!!!

Congrats! I also applied TAMU, hope to get some news in a few days.

Congrats, econphillomath:tup:, pray for us then...

I chose to apply "real estate" of this program.

You mean for GRE, I guess 84 for econ may be the code for TOEFL?

Thanks! I don't know why I cannot find it on their website, so I only have to locate it from the GRE Bulletin.

Anyone could kindly give me the info? I emailed them but got no response:hmm:Their website says those scores should be sent to the department, so I guess there would be department code for UCLA econ program. Thanks:)

You can choose to upload in the online application system, it does not hurt to add one, though:)

Thanks,I already found Vanderbilt:)

Would someone who plans to apply these two places give me some hint? I failed to find a copy of the form from both the website and the online application system (my refree prefer submitting by paper). Thanks:)