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A bad week for good economists

Ray Battalio passed away yesterday. Ray was an innovative scholar, one of the first experimental economists. His lab was unique in that it employed animals - rats and pigeons - to study demand elasticities and search for conditions that might lead to Giffen goods.

I met Ray just once, and he confirmed all the good things that I'd heard about him over the years. By all accounts, he was a wonderful man. A eulogy page has been set up here. The page is empty now, but appreciations will be posted there soon.

It's been a bad week for good economists.