Robert Harris Frank (born January 2, 1945) is Management Professor Henrietta Johnson Louis and Professor of Economics at the Graduate School of Management Samuel Curtis Johnson at Cornell University. She contributed to the "Economic View" column, which appears every fifth Sunday in The New York Times . Frank's 2011 book is about wealth inequality in the United States.
Video Robert H. Frank
Careers
Born in Coral Gables, Florida, Frank graduated from Coral Gables High School in 1962. Frank received a B.S. in mathematics from Georgia Institute of Technology in 1966, M.A. in statistics from the University of California, Berkeley in 1971, and Ph.D. in economics from UC Berkeley in 1972. Until 2001, he was Professor of Economics, Ethics, and Public Policy of Goldwin Smith at Cornell University's School of Arts and Sciences. For the 2008-09 academic year, Frank was a visiting professor at the Stern Business School of New York University.
Frank has also been a Peace Corps volunteer in the Nepalese countryside, chief economist for the Civil Aeronautical Council, a colleague at the Center for Advanced Study in Behavioral Science (1992 to 1993), and an American Civilization Professor at ÃÆ' â € ° cole des hautes ÃÆ' tudes en science sociales in Paris (2000-01).
In 2008, Robert H. Frank received an honorary doctorate in Economics from St. University. Gallen.
Maps Robert H. Frank
Important theory
The arms race position
This theory is an analytical examination of the socioeconomic concepts following Joneses and conspicuous consumption. His book Choosing the Right Pond discusses the importance of status, and how many people pay status. Frank argues that races for bad status for society as a whole, because there is no increase in the overall status available, because every time someone A rises above person B, the amount of their status remains the same. The only thing that changes is where people are in the hierarchy.
He reasoned that the race for this status explains some of the reasons why increased wealth does not improve welfare, or does not increase it much. According to Frank, if most income is spent pursuing status, there will not be much improvement in the quality of intrinsic life.
Winner takes all
In his book The Winner-Take-All Society, he discusses the contemporary trend toward concentration of wealth. He argues that more and more current economies and other institutions are moving towards a state where very few winners take very much, while the rest is left with little. He attributes this, in part, to the modern structure of the market and technology.
The strategic role of emotion
In various economic papers and in Passion Within Reason, he discusses the idea that emotions play an important role in personal decision-making and interaction, even when they seem irrational. For example, the emotion of love gives more value to a long-term romantic commitment. A "rational" person will break his partner once he finds a better partnership. Emotional attachment gives more long-term meaning to the relationship. Put poetically: "Those who are sensitive about love can not do it." Similarly, anger can be used as a pre-commitment tool. Frank states that envy can be useful because it encourages a more equitable distribution. By acting "irrationally" when treated unfairly, one can get better results in situations that resemble an ultimatum game if their opponent anticipates their emotional response and adjusts their strategy appropriately.
Dilemma and cooperation of inmates
Frank, Gilovich, and Regan (1993) conducted an experimental study of the prisoners' dilemma. Research subjects are students in their first and last year in the field of undergraduate economics, and students in other fields. Subjects paired, placed in a typical game scenario, then asked to choose "cooperate" or for "disabled". The subject pair is notified that if they both choose "defect", then the result for each will be 1. If both work together, the rewards for each will be 2. If one defects and the others work together, the result will be 3 for the defector and 0 for cooperators. Every subject in the couple makes his choice without knowing what the other members choose.
First-year economics students, and students who do disciplines other than economics, prefer to work together. But the 4th year students in economics tend not to cooperate. Frank et al. concluded, that with "an eye towards both the social goodness and the well-being of their own students, economists may want to emphasize a broader view of human motivation in their teaching."
Negative effects of studying economics
In his highly quoted work, Frank points out that economic studies reduce cooperation in the game. The idea is that most of the time cooperation and other people's perspective considerations do not make sense in the narrow sense of the word. Thus, learning that co-operation does not make sense in some situations affects students' behavior toward lack of cooperation, perhaps down to negative.
Publications
Books
- Choosing the Right Pond: Human Behavior and Quest for Status. New York: Oxford University Press 1985
- Passion in Reason: The Role of Strategic Emotions. New York: W.W. Norton 1988
- with Philip J. Cook: Community Winner-Take-All. New York: Martin Kessler Books at The Free Press 1995
- with Philip J. Cook: The winner-take-all community. Why some at the top get more out of the rest of us New York: Penguin Books (1995) ISBNÃ, 0 -14-025995-3
- Luxury Fever: Money and Happiness in an Excess Era. Princeton: Princeton University Press 2000
- How Much High Ground Prices? Ethical Dilemmas in Competitive Environments. Princeton: Princeton University Press 2004
- Microeconomics and Behavior. 6th ed. New York: McGraw-Hill 2005
- with Ben Bernanke: Principles of Economics . New York: McGraw-Hill (2003) ISBN: 0-07-121459-3
- with Ben Bernanke: Macroeconomic Principles. New York: McGraw-Hill (2006) ISBN: 0-07-319397-6
- The Economic Naturalist: Finding Solutions for Everyday Enigma. New York: Basic Book 2007
- Falling Inside: How Increased Inequity Endangers Middle Class. Berkeley: University of California Press 2007
- Economic Economical Return. How the Economy Helps Make Your World Work. Virgin Books, London 2009 ISBN: 978-0-7535-1966-0
- Darwin Economy: Freedom, Competition, and Common Good. Princeton: Princeton University Press (2011) ISBNÃ, 0-691-15319-1
- Success and Luck: Good Fortune and the Myth of Meritocracy. 2016
Articles
- Time etc. Article by Robert Frank 2005-2014 (PDF format)
- Robert Frank, Thomas Gilovich & amp; Dennis Regan: Do Learning Economy Inhibits Cooperation at:?. Journal of Economic Perspectives Volume 7, Number 2. Spring 1993. pp.Ã, 159-71 (PDF; 788 KB)
References
External links
- Robert H. Frank's personal site
- "Economic Naturalist" a lecture given by Frank on June 22, 2009 (audio).
- Biography of Professor Cornell University, Robert H. Frank
- Robert H. Frank's view of Tax Policy - a critique
- Ordering quotes and audio interviews on NPR
- Robert H. Frank on Radio Rag, December 11, 2011, interviewed by Thorne Dreyer and Roger Baker (57:25)
- Roberts, Russ. "Robert Frank Podcast". EconTalk . Library of Economy and Freedom.
Source of the article : Wikipedia
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