Saturday, June 11, 2005

Primal Economics

I got this link from Marginal Revolution. I love this kind of stuff. My friend and I were talking and we would like to see some more experiments:

1. Build a machine that has some sort of task attached. Whenever a monkey completes the task, a coin is dispensed. Some interesting things might happen:
I. We could get an idea of their consumption/liesure tradeoff
II. We might see the beginnings of monkey income disparity and see what happens.
III. More inter-monkey commerce, like the monkey prostitution, might take place.

2. Run a centipede experiment with the monkeys. Start with one coin, give two monkeys buzzers, double the amount of coins ever n seconds. You get the idea.

3. Inflation shocks, if 1. is effective... lots of things could be done if 1 above is effective.

This is really interesting stuff.


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