Akerlof: SINS OF OMISSION
SINS OF OMISSION George Akerlof INET Edinburgh: October 22, 2017
https://www.ineteconomics.org/uploads/downloads/AKERLOF-Presentation.pdf
This paper advances the general proposition that full coverage of the subject matter of economics requires a combination of two types of task: Hard and Soft. Rewards in publication and in promotion are accorded to Hard tasks; denied to Soft. These incentives have biased the practice of economics. Thus this essay is an application of the theory of multi-tasking, with agents dividing their effort between tasks, according to the respective rewards. It will give examples of resultant sins of omission.