I think the understanding of the role of markets has really helped advance the values of entrepreneurship. Its helped shape public policy discussions in a whole variety of ways.

If you simply announce that things are irrational, then that alone doesnt get you very far. You have to replace rational agents with some concrete notion of what it means to be irrational.

I think the understanding of the role of markets has really helped advance the values of entrepreneurship. Its helped shape public policy discussions in a whole variety of ways.

A lot of my colleagues have been people with broad interests in economics, not just narrowly focused interests.

I work on the boundary between economics and statistics in this field called econometrics. Part of my interest is understanding how you use statistics in productive ways to analyze dynamic economic models.