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It’s not like I can’t relate, but I would have thought that this kid would have a bright future in finance rather than economics…the only question is whether she should be a trader or work for a hedge fund, since she has clearly figured out the concept of arbitrage:
I feel like there should be a [...]
Tags: Behavioral Econ · Decision Making · Incentives
I wrote about the tragedy of the commons a couple of weeks ago, and I even included a musical number for your viewing pleasure. (As a follow up to one of the reader comments on the earlier article, I am pretty sure that that is not Warren Buffet in the video, but it would [...]
Tags: Decision Making · Econ 101
Yesterday, Tony Cookson reminded us what role freedom plays in economics, at least according to Ed Glaeser:
But that shift doesn’t mean that there isn’t a deep moral tenet – a belief in the value of human freedom – at the core of our discipline.
Some economists made that belief explicit. In the 18th century, Smith wrote, [...]
Tags: Decision Making · Happiness · Policy
I want to like you, Ben Stein- you knew enough economics to not need a script for your role in Ferris Bueller’s Day Off, and I definitely wanted to win your money- but I’m guessing that your father Herb, who was an actual economist, would not have been pleased with your line of reasoning regarding [...]
Tags: Behavioral Econ · Decision Making · Incentives
My parents are from Ohio, and my best friend is from Kansas (damn army brats), so March Madness is a pretty lively time around these parts. I, of course, have a bet with him regarding which team will make it further in the tournament (ex ante, this was more or less a fair bet [...]
Tags: Behavioral Econ · Decision Making · Sports
