I remember my economics…

In these days, when the fundamentals of financial economics are getting a public bashing by adacemics and laypeople alike, it is confiding to turn to those great works that cuts across disciplines and streams of though alike, and tells us something important.

For example, have a look at the Akerlof and Kranton paper on the economics of identity, which incorporates social identity to agent-principal models to investigate the consequences of when employees consider themselves insiders or outsiders. A simple yet beautiful economic model with implications for a HRM, entrepreneurship, feminism and other important topics. Citing Mahatma Ghandi and Jacob Mincer in the same paper is always nice

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