monday and a snowing day

I had two classes in Behavioral Economics from 10.15 to 12 and from 13.15 to 15, then Recursive Macro from 15.15 to 18. I would have been very tired if the macro lecturer were not Lars Ljungqvist. Currently I am not so interested in macro labor. I take this course only because he is such a good teacher and I would like to do some recursive exercises. Today’s exercise is a research question: try to think of a divisible labor model with heterogeneous agents in complete markets which might be isomorphic to the indivisible labor model.

Behavioral Economics is interesting, I would say. However, I find it hard to be convinced by those experiments. Take the most simple ultimatum game for example: I think the scale matters a lot. For 100 SEK, I would reject any less than 20 as a receiver. But for 1000000 SEK, I would accept 1000 SEK. btw, I got 30 SEK from the experiment because the other student offered a 70'30 split. As a person who has never won any lottery, I am quite lucky today.

I should email Jorgen tonight no matter he replies or not, which will not affect my admiration of him.