My words and behaviors may be very "Japanese like".
fact that I am a Japanese is true, but if you see me paying in cash, are
you really right in saying that it's because I am a "Japanese"?
Americans usually pay with credit card. I
am not talking about prejudice, but about kind of cognitive bias. Only
on the basis of that bias do we usually think. Don't we?
I found Dr Mankiw talking about this bias:
Why am I smiling? Because it is a sunny day.
Why is he smiling? Because he is a cheerful person.
I wonder if this common error can help explain some unfortunate impulses in economic policy.
Why did I raise my price? Because demand increased more than supply.
Why did the gasoline station raise its price? Because oil companies are greedy price gougers.
in judging policymakers, perhaps we give too much credit to those who
were simply lucky and too much blame to those who were unlucky
...I have long thought that Bill
Clinton gets too much credit for the booming economy of the 1990s, and
Jimmy Carter gets too much blame for the lousy economy of the 1970s. Now
I have a term for it: the fundamental attribution error.