The two giants of the mobile-ad economy have opposing philosophies on making money from your time. Namely, Google saves time while Facebook soaks it up.
Facebook, Google, and the Economics of Time — The Atlantic
17 Mar 2015 Leave a comment
in applied price theory, economics of media and culture Tags: Facebook, Google
Managerial Econ: Want a kidney? Wait six years.
17 Mar 2015 Leave a comment
in applied price theory, applied welfare economics, health economics Tags: organ donation
The policy world and academia offer widely different opportunities for early career researchers
15 Mar 2015 Leave a comment
in applied price theory, applied welfare economics, economics of bureaucracy, economics of education, occupational choice, organisational economics, politics, Public Choice
Academia rewards findings that are different and unexpected. In policy it is more important to be right than novel—after all, millions of lives may be impacted by a policy decision. In academia, people argue a lot about the direction of an effect but very little about the magnitude: in policy it’s the reverse…
A Price Is a Signal Wrapped up in an Incentive
14 Mar 2015 Leave a comment
in applied price theory, Austrian economics Tags: market process, The meaning of competition
Deirdre McCloskey on corruption and economic development
13 Mar 2015 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, development economics, economic history, economics of crime, growth disasters, growth miracles, law and economics, Public Choice, rentseeking Tags: corruption, Deirdre McCloskey, The Industrial Revolution
Do Paul Samuelson’s criticisms of behavioural economics make him a double secret Austrian economist?
13 Mar 2015 Leave a comment
in applied price theory, Austrian economics, behavioural economics, comparative institutional analysis, entrepreneurship, industrial organisation, survivor principle Tags: efficient markets hypothesis, entrepreneurial alertness, Paul Samuelson
via Samuelson vs. Friedman, David Henderson | EconLog | Library of Economics and Liberty and An Interview With Paul Samuelson, Part One — The Atlantic.
What’s the point of buying a driverless Mercedes if you can’t be seen inside it (and driving it)!?
09 Mar 2015 Leave a comment
This question should be asked more often about the regulation of purported natural monopolies
09 Mar 2015 Leave a comment
Resale Prices Tumble on Electric Cars – WSJ
09 Mar 2015 Leave a comment
in applied price theory, economic history, energy economics Tags: electric cars
Environmental and Urban Economics: The Drought Causes War Hypothesis: Evidence from Syria
09 Mar 2015 Leave a comment
in applied price theory, environmental economics, global warming, politics - USA, war and peace Tags: Syria, water markets
I am an economist so permit me to make one Econ 101 point.
As drought conditions unfolded in Syria, did water prices rise? Is water metered and paid for in Syria? How do farmers and residential water customers access water?
If there had been a market signal of increased scarcity, water prices would have gone up and rational households and firms would reduce their consumption.
In the presence of such well functioning water markets, no “excess conflict” would have resulted. Capitalist markets thus can diffuse violence as increasingly scarce resources are allocated efficiently and water consumers are incentivized to invest in strategies and actions to reduce their water demand.
So, to repeat my point; if the PNAS authors are correct then it is the synergistic effect between increased drought conditions and the absence of water markets that caused the problem. If the nation had well functioning water markets, then I would strongly predict that there would be no extra violence.
via Environmental and Urban Economics: The Drought Causes War Hypothesis: Evidence from Syria.
Why delicious Indian food is surprisingly unpopular in the U.S.
05 Mar 2015 Leave a comment
in applied price theory, industrial organisation, survivor principle Tags: creative destruction, food, Indian food
No need to rage against the gaucheness of Americans who, in fact, have embraced many foods:
The cuisine is among the most labor intensive in the world. And yet Americans are unwilling to pay beyond a certain, and decidedly low, price point.
Via Why delicious Indian food is surprisingly unpopular in the U.S. – The Washington Post.
How Your Face Shapes Your Economic Chances – The Atlantic
04 Mar 2015 Leave a comment
in applied price theory, applied welfare economics, discrimination, gender, labour economics Tags: economics of beauty
- Attractive CEOs raise their company’s stock price when they first appear on television, according to a working paper by Joseph T. Halford and Hung-Chia Hsu at the University of Wisconsin.
- Taller people are richer. In fact, every inch between 5’7” and 6 feet is “worth” about 2 percent more in average annual earnings.
- Being better looking than at least 67 percent of your peers is worth about $230,000 over your lifetime.
- Having blond hair is worth as much as a year of school—for women.
- Being an obese white woman is particularly punishing for your potential lifetime earnings.
via How Your Face Shapes Your Economic Chances – The Atlantic.
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