Fix the incentives, fix the incentives, fix the incentives ...

When he gets around to economics, Cochrane aims his blows at two points Krugman s attack on the efficient market theory and his advocacy of fiscal stimulus for depressed economies.

Catalysts

A delightful theory. A dangerous theory.

Table 4.

The State Incentives Programme

Elimination of perverse incentives

You need to have incentives.

For once, your incentives are aligned.

String theory, we think, is a theory of everything.

Pythagorean theorem.

Squeeze theorem.

Squeeze theorem.

Pythagorean theorem.

Pythagorean theorem.

'Theory of mind'

The Quantum Theory

The quantum theory

I've a notion. Where's that map?

I have a theory.

What theory?

The second tool we reach for is incentives.

Now, how about incentives?

They had a notion, a Platonic notion, of what tomato sauce was.

They had a Platonic notion of what tomato sauce was.

It's only a theory.

Social Learning Theory .

It is not a theory.

And that's the squeeze theorem.

It's just the Pythagorean theorem.

We just use the Pythagorean theorem.

We can use the Pythagorean theorem here

So f might look something like that right over there so that might be f at that point and we're gonna dot it with the unit normal vector at that point so the unit normal vector might look something like that that would be n hat at that point this is the vector field at that point

There was a theory.

It was a complicated theory

And that's the Pythagorean theorem.

I hope I'm not abusing your hospitality but your maid offered me a drink earlier.

Provision of adequate financial incentives Incentives must be sufficient to stimulate a change in the behaviour of the herders.

(i) Regulatory framework and incentives structures

The reason for this is incentives.

Some of the motivating examples included the Riemann Roch theorem and its generalization the Hirzebruch Riemann Roch theorem, and the Hirzebruch signature theorem.

In the context of explaining price, the marginal utility theory is not a normative theory of value.

If you think you understand quantum theory, you don't understand quantum theory.

Years later, I began to realize that it was the theory of everything the Unified Field Theory.

(ii) Use of economic and other innovative incentives for prevention and mitigation of pollution and other environmental damage