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Is the FISA court constitutional?
Congress created this court in 1978, so the real question is, does Congress have the power under the Constitution to create such a secret court? Also, what does this secret court say about our commitment to the rule of law, or … Continue reading
Tyler Cowen asks, “Where should Edward Snowden go?”
prior probability‘s second-favorite economist, Tyler Cowen, poses this question here, discussing the pros and cons of Bolivia, Nicaragua, and Venezuela. For our part, prior probability wonders whether this much-publicized list of countries is just a strategic ruse to divert attention … Continue reading
Why pay for iTunes when you can download music for free?
During the last two days I have been attending some lectures on price theory (or “microeconomics”) at the 29th Annual LEC Economics Institute for Law Professors. I teach torts and constitutional law, and my areas of research are the evolution … Continue reading
Why do brides buy dresses while grooms rent tuxedos?
Professor Eric Helland of Claremont McKenna College posed an interesting puzzle during today’s Law & Economics Institute: Why do most brides buy expensive wedding dresses while most grooms most rent tuxedos? What do you think? Now, let me ask you a … Continue reading
Should Tom Brady mow his own lawn?
For the next 12 days I will be attending the 29th LEC Economics Institute for Law Professors in Avon, Colorado. In preparation for this institute, I have been dutifully reading N. Gregory Mankiw’s textbook on price theory (“Principles of Microeconomics”), … Continue reading
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Tagged Law & Economics, N. Gregory Mankiw, Price Theory, Tom Brady
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Should there be a market in streets and parking spaces?
Alex Tabarrok posted the following yesterday on Marginal Revolution: Here from Alain Bertaud and the Urbanization Project is another way of thinking not just about the high cost of free parking but also the opportunity cost of streets. In New York City, a place … Continue reading
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A case of mistaken identity … Medema on Stigler on Coase
If you are interested in learning how the famous Coase theorem got its name, let me recommend the following paper by Stephen Medema, “A case of mistaken identity: George Stigler, ‘The problem of social cost,’ and the Coase theorem”. You … Continue reading
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Tagged Coase Theorem, George Stigler, harmful effects, Stephen Medema
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Model Thinking
prior probability has enrolled in Scott Page’s 10-week course on “Model Thinking” at Coursera … we really recommend his lectures on non-linear models and Markov processes … you can find the syllabus for the course here.
Visualizing ideas … images instead of words
This is prior probability‘s second blog post … we wanted our first post to be something visual because lawyers and law professors often tend to express our ideas solely in words, but sometimes, ideas can be communicated more directly and … Continue reading
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