Mapping Economics

Jessica YungEconomics, EducationLeave a Comment

Scroll down for sample diagrams. Motivation: How can I contribute with my meagre knowledge of Economics? When you spend over twenty hours a week studying, you cannot help but ask, ‘Am I going to use a significant proportion of this later on in life, especially if I don’t become an economist? (No.) If not, why am I spending time learning … Read More

A critique of the Ellsberg Paradox

Jessica YungEconomicsLeave a Comment

Ellsberg Paradox We discussed the following version of the Ellsberg paradox in a microeconomics lecture yesterday: There is an urn with 100 red balls and 200 balls that are each either blue or green. (e.g. may have 100 red and 200 blue or 100 red, 199 green and 1 blue.) You have two choices. Choice 1: (a) ┬áReceive 1,000 if … Read More