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Tag Archives: Economics
“Economics of the Undead” update
Pssst … The “undead” have their own live blog now. So, if you are fascinated by vampire behavior or just want to prepare for the inevitable zombie apocalypse, check out econdead.com. Tell your friends too, but please enjoy responsibly.
“Beautiful Game Theory”
That is the title of this book which explores the relation between economics and football (or soccer, for sportifs in the US) and which we will be reading in the coming days … between first-stage matches, that is. “Beautiful Game Theory” was written by Ignacio … Continue reading
“The Economics of the Undead”
That is the title of this fun collection of essays edited by Glen Whitman and Jim Dow, which you can pre-order here. To our loyal readers, click here, if you dare, for a tantalizing and sexy preview (the chapter titled “Buy or Bite?”) from … Continue reading
The economics of Disneyland ticket prices
Given the increase in demand to visit Disneyland, are Disneyland ticket prices too high … or too low? By the way, what do these data above tell us about the price elasticity of Disneyland tickets?
Cuban Economics
In the United States, we have a minimum wage; Cuba has a maximum wage—$20 a month for almost every job in the country. (Professionals such as doctors and lawyers can make a whopping $10 extra a month.) Sure, Cubans get “free” health … Continue reading
Infinite regress in law (a theoretical critique of the Hand formula)
Adjudication is the process of making decisions in law, but decision-making is a costly activity. For simplicity, we can model the process of adjudication (and decision-making generally) as a function consisting of two costly inputs: (i) RESEARCH or information-gathering and (ii) … Continue reading
Don’t freak out …
Steven Levitt and Stephen Dubner’s third (and possibly last) “Freakonomics” book — Think like a freak — is out. It’s a breezy though entertaining mish-mash of assorted anecdotes and sundry stories … and an excellent graduation gift for any 6th graders you … Continue reading
If Steve Jobs were alive today, would he be in jail?
That is the provocative question raised in this report by James B. Stewart in today’s New York Times. The Times’ report notes that Steve Jobs, the co-founder of Apple, was the “driving force” in a conspiracy to prevent competitors from poaching Apple employees, a … Continue reading
Why are airline boarding procedures so inefficient?
Here is one hypothesis: Because consumers want and value assigned seats. Overhead bin space is scarce as well, and airlines allocate that to their best customers through early boarding. In other words, there are competing business objectives. It turns out that … Continue reading
More evidence that applied economics is not a science …
Economists still can’t agree on whether High Frequency Trading (HFT) is good or bad. Dude, where’s my trade?
prior probability 