Hubnomics: Chapter 3 - The Economy and the Beauty of Time with YZCOIN Behavior Dimension

Omar Alfarisi ()

No 6sgxf, OSF Preprints from Center for Open Science

Abstract: It was a beautiful sunny London morning. Well, you would be thinking about sunny London, as such weather might fall under the third probability sector of the Gaussian bell curve. Let's say I was lucky that day. What would you suggest to me to do that morning, a Monday morning? Hoping not to remind me that I should go to work. I will do something else: a morning run in the Regent Park. This Monday appears to be especially lucky. But my wife, Eve, is calling me now, asking me to take our daughter to the new school bus stop. I love to be with my daughter in the morning; she has many funny stories. And I wish that life, the market, and the economy would not change her spirit of fun as days pass, so what I can do for her and all world children is keep that positive eye on our world. Not only a positive look but a positive reality for their future. The mornings are the best time for everything. The best time to do sport. The best time to work. The best time to study. The best time to write. The best time to be with my family. The best time to call my parents. The best time to do a new interview. The best time to … But how many mornings do we have in the year for going to work, and how many times do we have for all the other good things to do in the mornings? Of course, we have more mornings at work than mornings for doing other things. Can economists solve this? Someone would ask, "Why do you think that economists can solve everything?" the same person may try to answer, "Is it because economists can structure a good incentive system that drives people's behavior to change?". I think it is an acceptable answer. I would give an example from a class activity of a live experiment with a simulator. We did it in the Operation Management course at London Business School. The professor has set the live exercise with specific incentive and punishment schemes. The structure of the incentive and the punishment managed to change the behavior of each member accordingly. The behavior here means the decision taken by each student based on the incentive and punishment schemes.

Date: 2023-10-22
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Persistent link: https://EconPapers.repec.org/RePEc:osf:osfxxx:6sgxf

DOI: 10.31219/osf.io/6sgxf

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