Economists Do It With Models

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Entries Tagged as 'Markets'

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Some Thanksgiving Wishful Thinking, Labor Markets Edition…

December 2nd, 2013 · 8 Comments

I feel like I’m going crazy- this is backwards, right? I’m pretty sure I was taught that one of the side effects of strong unions is that they discourage hiring, both because unions tend to lobby for above-market wages and because companies are hesitant to hire employees when they know that said employees will be [...]

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Tags: Markets

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The New (And Improved) Alan Greenspan Does The Daily Show…

October 24th, 2013 · 2 Comments
Behavioral Econ · Books · Finance · Markets · Policy

Oh man, this is great…it’s like watching everybody’s grandfather talk about bank regulation, AND Greenspan is basically saying that behavioral economists had it right all along: (Sidenote: the closed captions are really helpful if you are somewhere where audio is frowned upon.) Oh good, we’ve gotten to a point in the world where the guy [...]

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Tags: Behavioral Econ · Books · Finance · Markets · Policy

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Fun With Positional Goods, Coach Edition…

October 23rd, 2013 · 1 Comment
Buyer Beware · Markets

We talk about a lot of different types of goods in economics- normal goods, inferior goods, Giffen goods, Veblen goods, etc. So what is a positional good? I will let Sheldon from the Big Bang Theory explain: Raj: Dude, I’m glad you finally got a girlfriend, but do you have to do all that lovey-dovey [...]

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Tags: Buyer Beware · Markets

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A Lesson In Quality Over Quantity, Comic-Con Edition…

October 16th, 2013 · 4 Comments
Econ 101 · Markets

Preface: You know it’s gotten pretty bad when you’re overthinking a blog post written by a group called “Overthinking It.” One of my nerd soul mates over at Overthinking It put together some interesting data from New York’s Comic-Con, including some potential explanations for why the prices that celebrities charge for autographs are what they [...]

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Tags: Econ 101 · Markets

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Sooo…Does This Mean We’re In a Banksy Bubble?

October 15th, 2013 · 5 Comments
Behavioral Econ · Buyer Beware · Markets

While Eugene Fama may claim to not know what a bubble is, I’m pretty sure that the generally accepted definition is something along the lines of “a situation in which the price of an asset is significantly above its fundamental intrinsic value.” A couple of years back, Planet Money illustrated that a kitten bubble could [...]

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Tags: Behavioral Econ · Buyer Beware · Markets

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Well It Just Seems Silly When Others Do It, Shutdown Edition…

October 5th, 2013 · 1 Comment
Markets · Policy

From PhD Comics: Jorge Cham is not alone in his opinion…Emily Oster, for example: Was going to use jobs report in my Friday class. I guess not. Now it's getting personal. — Emily Oster (@ProfEmilyOster) October 2, 2013 Or John Whitehead: I’m actually trying to write something up and I need to figure out how [...]

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Tags: Markets · Policy