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303. The Selection Markets, Corruption, and Toy Models feat. Raymond Fisman
How do economists understand complex phenomena like selection markets and corruption? With frameworks often called toy models. These models often point toward unexpected consequences and help us to design better markets and incentives. Raymond Fisman is the Slater Family Professor in Behavioral Economics at Boston University and the co-author of many books, including Economic Gangsters: Corruption, Violence, and the Poverty of Nations, The Org: The Underlying Logic of the Office, and his new book Risky Business: Why Insurance Markets Fail and What to Do About It.Raymond and Greg discuss…
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