Re: [Pen-l] Bubble Psychology [was: thinking the unthinkable

[Doyle Saylor <doylesaylor@xxxxxxx>]

Greetings Economists,
On Oct 23, 2008, at 11:44 AM, Max Sawicky wrote:

> Right.  My point.  You're better off doing a mixture of stuff, some  
> of which goes south, than doing nothing.

Doyle;
Well over confidence is just a word description of a state of  
feelings.  Without knowing 'states' of feeling one can't even say what  
over confidence is.  It sounds like you are talking about an aggregate  
of people doing something together rather than nothing.  In effect  
asking if feelings are shared or autonomous.

To me it is inevitable that you can't define over confidence without  
defining the state of feeling in a more measurable way.  I presume  
economics focused on brain studies would end up 'engineering' over  
confidence into economic activity.  In the sense being depressed stops  
people, selling pills activates them again.
thanks,
Doyle Saylor
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