osewalrus (osewalrus) wrote,

Identity Economics -- Interesting

I flag this as something I'm clearly going to have to read more about, but it appeals to me from what little I've seen. Akerloff (of "Market for Lemons" fame) and Rachel Kranton have written a book about how the concept of "identity" influences economic behavior. This goes beyond traditional ideas about taste or preference. It explains why people will, for example, needlessly run up their electric bill to demonstrate their opposition to what they see as an opposing movement asking everyone to turn off their lights for one day.

Review and links here: http://www.openleft.com/diary/18984/identity-economicsa-major-breakthrough

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