History of Behavioral Economics

Below is my presentation, which I made using new software from Prezi. It was a little bit difficult than my thought, but after adapting myself to new software it would be fine.
Just click within the screen and advance to the next slide.

Click here to see the presentation full-screen.

Here is my presentation script at LanguageCast MultiLingua.

Also, I embed my first recording result powered by Sun,Hyunwoo from LanguageCast MultiLingua on 15Jan.


If you want to listen more from other people, please click here.

Learning Korean

Sun, Hyunwoo is one of my awesome motivators. He runs some blogs and websites. Someday in 3 years ago, a senior recommended Hyunwoo's blog why-be-normal.com. Taking this opportunity, I began to keep watching him. When I first visited his blog, he had interesting about learning foreign languages like Japanese, Chinese, as well as English. He has bloged what he learn, how to learn foreign languages, and even how to live in web2.0 ecosystem. Now he is named as 2008 power blog by NAVER, the first search engine company in Korea. He started from scratch, but he achieves good. And he keep running to great.

Here is his self-introduction in youtube.


Also here is website's list run by Mr.Sun.
1. koreanclass101.com
Mr.Sun uploads podcasts of learning Korean as second language for foreigners. If you want to learn Korean daily, you need to subscribe his podcast.

2. sendmetokorea.com
Mr.Sun and his friends take and upload some photos on Korean streets. They don't try to disguise the street photos in fancy like a typical tour magazine. Instead, they show the real Korea.

3. languagecast.net
Mr.Sun makes multi languages group. They meet together every Friday's night at Sinchon and record their voice in multi languages.

[Interview] Richard Thaler

A month ago, I read some books about behavior economics include "Nudge - Richard Thaler & Cass Sunstein" that becomes hot book now because the President of S.Korea Lee, Myung Bak recommended it to staffs of the Blue House.

Here is my review of the book. When I bloged it, I had a question

'When Nudge works effectively and efficiently?'

When the choice architect like government design nice nudge in order to make people move on their way, it should take cost. So, there is trade off between cost of designing nudge and value from designed nudge. That's reason why we cannot use nudge everytime.

As backing to the question, we need to know when Nudge is really necessary. I found the answer of the question from the interview with Richard Thaler.
He said it depends on the complexity of the problem. For example, here is a simple problem like which apple has better taste. We can easily find the way to get solution. However, here is a much difficult problem like which medical surgery is better for me? Unless we have some knowledge in the medical area, it's really hard problem. Like this medical problem, there are some complex problems that is happened barely sometime and have no enough feedback to make learning effect. At solving this kind of problems, we need nudge.

Here is the full text of interview from the Chosun Ilbo.

Embed Creative Thinking

When the google opened the google earth service, people were stunned by enabling to see the earth on God's view. Furthermore, people go crazy as the google share the source of the map for FREE.

From now on, there are many variation of the google earth customized each one's needs. For example, some want to pin their nationwide chicken franchise on the map. They embed some codes about the location of chicken shops on the open source of the google earth. We call it API, Appilcation Progamming Interface.

By using API, unskillful people also can make their own program after a little discipline. API change the world. It's a great tool to encourage people to express their creative thinking.

Here are two websites offering fancy goods for your blog:
widgetbox.com
widgetbank.daum.net
wzdfactory.com

We call the fancy goods widget or gadget. Based on the dictionary, a gadget means a small machine or device which does something useful. You sometimes refer to something as a gadget when you are suggesting that it is complicated and unnecessary. The definition of a widget is nothing different with that of a gadget.

People make a widget, and share it with many and unspecified persons for advertisement, volunteer, or even just fun. Besides, some groups use a widget for making money. I'm also adding some of those on my blog.

First enjoy it, sencond embed our creative thinking in a widget. Furthermore, it will spread around. Therefore, we can share our creative thinking.

The Snowball

I can't wait to read it. I found it in USAG -yongsan library, Seoul. It is The Snowball. The book is a biography about Warren Buffett by Alice Schroeder. Warren Buffett say this on the book:

"Life is like a snowball. The important thing is finding wet snow and a really long hill"

I'm amazed and excited at the volume of the book, more than 900 pages. It takes a couple of weeks to read through the book. There is, however, my EVEREST I have to overcome.

Platform Thinking

I usually don't like a middleman, especially I hate a real estate broker. They are the typical example of becoming moral hazard easily in the information asymmetry.

I understand that the middleman has information capability connecting with both seller and buyer, besides they are important information hubs. However, they are impatient of sharing their data because they are afraid of losing their dominant position. That's reason why they're easy to fall into greed for dominating.

Their fears are groundless. The world is changing. Our problems is much more complicate and fussier than before. It's hard to solve those problems by one brain. According to Wikinomics, people would like to contribute to the community.
Collaborationism blow up now.

At this state, what the middleman should do? Should they adhere to the old way keeping barrier or change to open it?

Here is a good example, instead of answering. Innocentive.com connects companies, academic institutions, public sector and non-profit organizations, all hungry for breakthrough innovation, with a global network of more than 180,000 of the world's brightest minds on the world's first Open Innovation Marketplace.
That's the platform thinking. Innocentive read both opportunity and risk on open innovation marketplace. But, they succeed in their business model by enabling solvers to receive professional recognition and financial awards for solving R&D challenges. It also works for ensuring organization sharing their difficult question to get a right answer. Innocentive satisfy both side with incentive and assurance.

Go back to the middleman problem. There are the billion of middleman on the whole kind of area. It means there are potential marketplaces if the middleman share their data to the public. Instead of commision, the middleman will get an advanced data from a bunch of traffic. The middleman can make higher value by processing the advanced data. I call it the value-up strategy.

The Art of War

The art of war(손자병법) is a Chinese military treatise that was written by Sun Tzu(손무) in the 6th century BC. The Art of War is one of the oldest and most successful books on military strategy in the world.

If you know your enemy and yourself, you can win every battle.

This is one piece of his Analects. As he said, he always emphasize military intelligence.

As focusing that Sun Tzu tried to figure out an optimum solution under many constraints like a food capacity and a number of soldiers, we call the Art of War "Operations research" in modern science terminology. But, Sun Tzu didn't focus on the tactics, also on person's mental attitude conducting a war.