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Domain: aeaweb.org
Stories and comments across the archive that link to aeaweb.org.
Stories · 4
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Nonmonetary Incentives and the Implications of Work as a Source of Meaning (aeaweb.org)
From a research paper [PDF]: Many workers care about more than financial compensation in their job. Nonmonetary incentives often matter, too. A firm's mission and the design of one's job can create meaning and purpose for employees. As a result, firms will have reason to care about meaning of work. We believe economists can usefully contribute to the debate about the implications of meaningful work. We are not arguing that financial compensation is unimportant. Lazear (in this volume) provides an excel- lent review of monetary incentives in certain organizations. But we believe that in order to manage modern organizations and understand the future of work, studying workers' nonmonetary motives will be crucial. -
Patents That Kill
wabrandsma (2551008) writes From The Economist: "The patent system, which was developed independently in 15th century Venice and then in 17th century England, gave entrepreneurs a monopoly to sell their inventions for a number of years. Yet by the 1860s the patent system came under attack, including from The Economist. Patents, critics argued, stifled future creativity by allowing inventors to rest on their laurels. Recent economic research backs this up." -
Economists Argue Patent System Should Be Abolished
nukem996 writes "Two economists at the St. Louis Federal Reserve have published a paper arguing that the American patent system should be abolished. The paper recognizes the harm the current patent system has caused not only to the technology sector but the health sector as well." -
Statisticians Investigate Political Bias On Wikipedia
Hugh Pickens writes "The Global Economic Intersection reports on a project to statistically measure political bias on Wikipedia. The team first identified 1,000 political phrases based on the number of times these phrases appeared in the text of the 2005 Congressional Record and applied statistical methods to identify the phrases that separated Democratic representatives from Republican representatives, under the model that each group speaks to its respective constituents with a distinct set of coded language. Then the team identified 111,000 Wikipedia articles that include 'republican' or 'democrat' as keywords, and analyzed them to determine whether a given Wikipedia article used phrases favored more by Republican members or by Democratic members of Congress. The results may surprise you. 'The average old political article in Wikipedia leans Democratic' but gradually, Wikipedia's articles have lost the disproportionate use of Democratic phrases and moved to nearly equivalent use of words from both parties (PDF), akin to an NPOV [neutral point of view] on average. Interestingly, some articles have the expected political slant (civil rights tends Democrat; trade tends Republican), but at the same time many seemingly controversial topics, such as foreign policy, war and peace, and abortion have no net slant. 'Most articles arrive with a slant, and most articles change only mildly from their initial slant. The overall slant changes due to the entry of articles with opposite slants, leading toward neutrality for many topics, not necessarily within specific articles.'"