Economists Do It With Models

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Entries Tagged as 'Uncategorized'

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Correlation Does Not Imply Causation, Reverse Causality Edition…

December 18th, 2011 · 12 Comments
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Since you seemed to like the correlation charts from yesterday, I figured I would give you one more related item. When two events A and B are correlated (i.e. happen together), we can’t tell whether event A caused event B (rain caused me to bring my umbrella), event B caused event A (bringing my umbrella [...]

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Economists, Charity And The Boston Marathon (And A Request For You)…

April 20th, 2009 · 6 Comments
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Today is Patriots Day in Massachusetts- yes, this is actually a state holiday, but what it really means is that the Greater Boston area shuts down for the running of the Boston Marathon. The Boston Marathon is one of the most popular marathons in the world, and it is one of the few marathons to [...]

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Bar Stool Economics…

November 18th, 2008 · 13 Comments
Behavioral Econ · Just For Fun · Uncategorized

A friend sent this to me, and I figured it was entertaining enough to warrant posting: Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this: The first four [...]

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Tags: Behavioral Econ · Just For Fun · Uncategorized

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More From the Land of Unintended Consequences…

June 12th, 2008 · 5 Comments
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As of today, two airlines have decided to start charging customers for all checked luggage. Okay, I get it, sort of- the airlines need to cover the increased cost of fuel, customers are more sensitive to base ticket prices than they are to the later add on components, especially when the point of purchase is [...]

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Fun With Gender Stereotypes…

September 24th, 2007 · No Comments
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As a female who used to have a job that paid pretty decently, I couldn’t help but find this article in the NYT interesting. Granted, the article doesn’t really bring up a new idea- it talks about the social awkwardness and frustration that can result from situations where women have higher earning power- but it’s [...]

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Who Needs Data Anyway?

September 4th, 2007 · 1 Comment
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This is disturbing (from the NYT): “Just before the break, the House of Representatives passed a bill that would cut $23.6 million from the bureau’s 2008 budget for compiling the nation’s most important economic statistics. A cut of that size would result in the largest loss of source data since the government started keeping the [...]

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