If you were paying attention in your econ 101 class, you probably remember that the supply and demand model was presented as a reasonably simple setup that explains how market prices and quantities get determined. What the model glosses over is the inherent chicken and egg problem with markets- for example, what’s the quote [...]
Entries Tagged as 'The Simpsons'
Supply And Demand, Chickens And Eggs…And Snowplows?
January 4th, 2011 · 8 Comments
Macroeconomics · Markets · The Simpsons
Tags: Macroeconomics · Markets · The Simpsons
Happy (Belated) Nobel Prize Day! And A Lesson On Unemployment…
October 13th, 2010 · 7 Comments
Macroeconomics · Markets · The Simpsons
Yes yes, I could have written this earlier, but I didn’t want to, uh, overshadow Columbus Day? (Technically Columbus Day was yesterday, since the first time one of Columbus’ crew members saw land was on October 12, 1492.) Actually, I haven’t been feeling well, but I didn’t want to leave you hanging forever, [...]
Tags: Macroeconomics · Markets · The Simpsons
Help! My City Is Turning Into Springfield, Soda Ban Edition…
September 23rd, 2010 · 7 Comments
Econ 101 · Policy · The Simpsons
If you’ve paid close attention in Econ 101, you may have noticed that economists mention two socially beneficial reasons for taxes- to collect money to pay for public goods and to internalize negative externalities. Sometimes, if we’re feeling frisky, we even talk about taxes in the context of income redistribution, but that is a [...]
Tags: Econ 101 · Policy · The Simpsons
Just For Fun: An EDIWM Tribute To The Simpsons…Or Is It The Other Way Around?
September 1st, 2010 · 2 Comments
Just For Fun · The Simpsons
I am currently finishing my chapter on the behavioral economics found in The Simpsons, since it’s due, well, today (whelp!), so I figured I would give you a little montage that explains why this really is the perfect project for me:
An EDIWM Simpsons Montage
I’ve clearly thought about this wayyyy too much. And, for the [...]
Tags: Just For Fun · The Simpsons
On The Popularity Of Pay-For-Performance And The Illusion Of Control…
August 30th, 2010 · 7 Comments
Behavioral Econ · Incentives · Press · The Simpsons
So I was quoted in Human Resource Executive Online:
Jodi Beggs, a researcher in the field of behavioral economics and incentives who focuses specifically on when, if and how incentive schemes work, says the jury is still out on whether pay-for-performance compensation plans will someday be the norm.
“The high-level summary of academic findings is that pay-for-performance [...]
Tags: Behavioral Econ · Incentives · Press · The Simpsons