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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 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
Regulatory capture, according to Wikipedia, occurs when “a state regulatory agency created to act in the public interest instead advances the commercial or special interests that dominate the industry or sector it is charged with regulating.” In other words, regulatory capture is a fancy economic term for letting the foxes run the henhouse.
The term [...]
Tags: Incentives · Policy
This morning I saw the following picture on Greg Mankiw’s blog:
I don’t know about you, but I see these sorts of offers around every once in a while. Also, I don’t know about you, but *I* stop and ponder why these policies are in place. As it turns out, the explanation is both [...]
Tags: Incentives
Not surprising: that the Wall Street Journal would pick up a story about new research on the relationship between money and happiness:
The study, which analyzed Gallup surveys of 450,000 Americans in 2008 and 2009, suggested that there were two forms of happiness: day-to-day contentment (emotional well-being) and overall “life assessment,” which means broader satisfaction with [...]
Tags: Happiness · Incentives
