Alcohol use helps boost income
Alcohol use helps boost income: study - Yahoo! News. When I read this and the researcher's "explanation" I was staggered. And no I had not been drinking.
According to the research, "The study published in the Journal of Labor Research Thursday concluded that drinkers earn 10 to 14 percent more than teetotalers, and that men who drink socially bring home an additional seven percent in pay.
"Social drinking builds social capital," said Edward Stringham, an economics professor at San Jose State University and co-author of the study with fellow researcher Bethany Peters."
Think about this: which story is more consistent? Story A, social drinking builds social capital. Story B, if you drink in a bar, you have on average more money than someone who drinks at home, maybe even seven percent more pay. The facts described in the article are consistent with either story, but somehow story A is the more compelling one. We have seen this false inference before, we are more attracted to causal stories than diagnostic ones. We feel a need to explain correlations as causal rather than as diagnostic. Thus the attachment to Story A, even when upon reflection Story B provides a better explanation.
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Comments
LOVE this. But remember, the ridiculously wealthy legendary music executive, David Geffen, says he was successful in signing deals in the '60s because he was always the only sober person in the room.
So false inference or not, I'd say -- cocktail hour remains one of your best marketing opportunities, PARTICULARLY if you don't drink (and my field research of the last 12 years shows that NO ONE NOTICES YOU'RE not drinking).
Don't take advantage of the poor besotted souls, but so be of service to them (and to the rest of the community by serving as the designated driver).
Best, Vickie Pynchon, http:settleitnow.blogspot.com
Posted by: Vickie Pynchon | October 4, 2006 10:22 AM
http://settleitnow.blogspot.com/2006/10/false-inferences.html
MY BLOG on yours . . .
Posted by: Victoria Pynchon | October 4, 2006 10:57 AM
Vickie;
While Geffen may have been the only sober person in the room, it was in a room full of individuals who as a group were likely to be successful stars. So he could have got drunk and have done the same deals!
Posted by: Michael Webster | October 5, 2006 9:35 AM