Poets as consultants? Economic contract theory in German literature
In German literature, particularly in poetry, an amazing wealth of illustrations for economic contract theory can be found. Signaling, screening, incentive contracts, the winner's curse, and even the prisoner's dilemma within a team are treated by different writers. The respective examples are attractive for at least two reasons: First, for their clear representation of economic or game theoretic structures; and second, for their interdisciplinary nature, combining economics with law and psychology. Should we thus look at writers as consultants superior to economists? The answer is "no" in the sense that writers do not tell us how to behave in any particular situation, but "yes" in the sense that they remind us to be modest with respect to our strategic faculties; an advice not necessarily welcome to the economists' profession.
|Date of creation:||May 2002|
|Contact details of provider:|| Postal: Dufourstrasse 50, CH - 9000 St.Gallen|
Phone: +41 71 224 23 25
Fax: +41 71 224 31 35
Web page: http://www.seps.unisg.ch/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Rubinstein, A., 1998.
"Economics and Language,"
14-98, Tel Aviv.
- Ariel Rubinstein, 2000. "Economics and Language," Online economics textbooks, SUNY-Oswego, Department of Economics, number lang1, June.
- Rubinstein,Ariel, 2000. "Economics and Language," Cambridge Books, Cambridge University Press, number 9780521789905, December.
- Rubinstein,Ariel, 2000. "Economics and Language," Cambridge Books, Cambridge University Press, number 9780521593069, December.
- Benny Moldovanu & Manfred Tietzel, 1998. "Goethe's Second-Price Auction," Journal of Political Economy, University of Chicago Press, vol. 106(4), pages 854-859, August.
When requesting a correction, please mention this item's handle: RePEc:usg:dp2002:2002-10. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joerg Baumberger)
If references are entirely missing, you can add them using this form.