Tipping Economics
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James Joyner | Tuesday, October 2, 2007 |
Greg Mankiw observes that “Economists do not have a good theory of tipping.” King Banian contends this is untrue and then demonstrates that economists have many theories of tipping.
Whether any of them amounts to a good theory, however, I shall leave to the reader to decide.
About the Author: James Joyner is the publisher of Outside the Beltway and the managing editor of the Atlantic Council. He's a former Army officer, Desert Storm vet, and college professor with a PhD in political science from The University of Alabama. He lives just outside the Beltway in Alexandria, Virginia with his wife and infant daughter.
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Comments
Mankiw's theory of tipping probably involves a pigouvian tax on the gasoline used by the waiters driving to work and writing a number of excuses for Bush's horrible fiscal policies on the check.
Posted by Andy | October 2, 2007 | 11:43 am | Permalink
In a *real* science, having *many* theories means that you don't have a *good* theory.
Posted by Anderson | October 2, 2007 | 12:26 pm | Permalink
I'm sorry could we get a list of those areas for which Economists *do* have good theories?
I promise it won't take long to compile.
Posted by Tlaloc | October 2, 2007 | 12:36 pm | Permalink
Do any of the economists involved have only one hand?
Posted by Dave Schuler | October 2, 2007 | 01:30 pm | Permalink
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