Behavioral Economic Theory and In Particular Prospect Theory

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UtahOwl
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Posts: 82
Joined: Mon Jul 28, 2008 10:48 pm

Behavioral Economic Theory and In Particular Prospect Theory

Post by UtahOwl »

.
Re my request in the following e-mail exchange with John Karls for his help in “chasing the rabbit” researching whether behavioral economic theory, in general, and prospect theory, in particular, are taught in current MBA and finance courses, since John did not have time to help “chase that rabbit” I am issuing a general SOS for anyone else to help.


---------------------------- Original Message ----------------------------
Subject: Behavioral Economic Theory and In Particular Prospect Theory
From: June Taylor (aka Utah Owl)
Date: Sat, December 10, 2016 9:12 am - MST
To: ReadingLiberally-SaltLake@johnkarls.com
Attachment:
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Dear John,

Thank you for your usual good efforts to facilitate a fruitful discussion. While I enjoyed the book much more than you evidently did, I am happy to see your list of off-limits topics & agree with them.

I would like you …if you are willing…to address the author's criticisms of the current MBA & finance education - because you appear to have substantial contacts in that area & could speak to whether the current education in the B-School has the properties the author alleges (specifically that it gives short shrift to developments in behavioral economic theory, most especially prospect theory).

I will endeavor to pick out one topic & share which one in a future email, although I cannot promise to come up with a solution - these are tremendously complex issues, and unlike Robt McNamara, I do not think enough data - even Big Data - will be sufficient to frame the problem well enough to generate a clear solution.

Looking forward to Wednesday!

Best regards,

June


---------------------------- Original Message ----------------------------
Subject: Re: Behavioral Economic Theory and In Particular Prospect Theory
From: ReadingLiberally-SaltLake@johnkarls.com
Date: Sun, December 11, 2016 7:22 am - MST
To: June Taylor (aka Utah Owl)
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Dear June,

Thank you very much for your e-mail.

Although I taught part-time for both NYU Law School's graduate tax program and Fordham U's Graduate School of Management (an old resume is posted as Ref M in the third section of www.ReadingLiberally-SaltLake.org), I have not done either since 2006 when I was forced to sue 15 of the world's largest financial institutions as described in that section.

And since the lawsuits were concluded in 2011, I am ashamed to admit that I have not been doing much more than any person in her/his 70's should be doing = skiing and sailing.

Accordingly, I won't be able to provide much information about current MBA curricula.

See you Wed,

Your friend,

John K.

UtahOwl
Site Admin
Posts: 82
Joined: Mon Jul 28, 2008 10:48 pm

Re: Behavioral Economic Theory and In Particular Prospect Th

Post by UtahOwl »

I volunteer to try to flesh out the arguments in Chapter 2: The Fall of Business, with examples in particular from the Pharmaceutical industry. I challenge the rest of you to take other chapters and see if we can convince John that some of the author's "alleged facts" are facts indeed.

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