2010 American Economic Association humor session

[eacans]

what a nerd.

P.S: I was the first one to dislike.

[CommunityGameplays]

@eacans Wow, your life must suck!

[eacans]

@CommunityGameplays well my life is ok but your mommy does most of the sucking for me...

[CommunityGameplays]

@eacans Congrats, you proved my point.

[eacans]

@CommunityGameplays so you made a point about your mommy sucking dick?

[CommunityGameplays]

@eacans I feel genuinely sorry for you.

[minervx]

"if you're a keynesian, make sure to turn off the stove"

"the republicans are destroying america cookbook by paul krugman"

"eat more, weigh less: secrets of the laffer curve diet"

[LongLastRevolution]

It is really funny...Even I can understand....:)

[republicausp]

5:55 Nice jab at Greg Mankiw!

[pigberto]

Can anyone please explain the "convex hull" joke? I understand it is a mathematical concept, but have not idea where it stands in economics.

[Thedreamshaperabc]

@pigberto

A convex set in which all lnear combinations of it resides within the same set, however what economists usually use convex(or more commonly its oposit concave) is for maximising or minimising a function. Loosely speaking if you take the first derivative(ie. the slope) of a function which is convex and set it equal to zero, then you have found the bottom. Think of a mountain as hill as concave, when your walking across it and your neither going up or down, your exactly at the top :)

[DrFruedienslip]

@Thedreamshaperabc Economics lies withi the despotism of human transfers' which is a complex conundrum' and affects all species' so its not really math but is predictible

[jhlbjaaa]

@pigberto I guess it's a production function joke.

[DrFruedienslip]

@pigberto Mathematics has nothing to do with economics] Economics has everything to do with human emotions so its not really funny

[pigberto]

@DrFruedienslip I am going to ignore your misunderstanding of economics and just say this: You understand human emotions can be mathematically modelled if the math and our understanding of human emotions is rich enough, right?

[DrFruedienslip]

@pigberto i dont know what you mean by mathematics? Can you elaborate?

[cmleung123]

@pigberto a choice set in economics is usually convex ....

[dvching90]

@pigberto ussually in economics we use different production and indifference curves which are supposed to be convex.

What we implied supposing convexity is that the more you use one factor of production (or consume one good) the less marginal production (utility) you can get out of it.

The thing is if you make a graph of it, you can see it sort of has the shape of a hull.

Hope it asnwers you something, I'm sorry for any mistake, English is not my native lenguage :)

[dvching90]

@pigberto Convexity is a property that describes a function... it's actually more a mathematical joke than an economic joke because it's more of a mathematical concept economist (and students of economy such as myself) use to find a way to mathematically describe the behaviour of consumers and producers.... hope it helps you

[calthedog]

My daughter is suffering through freshman econ at Willamette University. They should just have Yoram teach the class!

[UriaHammonRaviel]

Brilliant

[kumaxtreme]

funny video!

[CroswhiteK]

Yes, finally, another video!