Tuesday, April 21, 2009

Note to self

Lloyd Morgan (via DeLong) quotes a new book by John Kay:
I once debated the relationship between the social sciences with some anthropologists. We adjourned to the pub, and someone bought a round of drinks: the discussion naturally turned to the reasons why. For the economists, the explanation was obvious: the practice of buying rounds minimized transaction costs, reducing the number of exchanges between the patrons and the bar staff. The anthropologists saw it as an example of ritual gift exchange and described the many tribes that had developed similar customs. I proposed a test between the competing hypotheses: did you feel cheated or victorious if you bought more rounds than had been bought for you? Unfortunately, the economists and the anthropologists gave different answers to that question.
Note to self: accept pubcrawling invitation from anthropologists; decline same from economists.

But isn't that economist thinking? Maybe the anthro guys will rub off on me.

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