The issue Scott Irwin, an economist, is considering is how farmers decide(d) either to plant corn late or to go with prevented planting. The earlier tweets in this thread all considered rational calculations of return, but this tweet is his final thought:
I view myself as a rational human being, but over my life I've often not acted as such. I'm not sure whether social norms, habit, or psychology were at work13. Last, but not least, I don't think we can discount the social norm of not leaving ground bare here in the Corn Belt. I can't tell you how many emails and messages I have gotten from farmers considering PP who were absolutely in personal anguish about doing so.— Scott Irwin (@ScottIrwinUI) June 24, 2019
No comments:
Post a Comment