Economic Ideas

August 30, 2015

Why a Life Needs a Price Tag

Although it seems callous, for safety regulation like speed limits and for victims' compensation like 9/11 we need to quantify the value of a life.

August 25, 2015

Using a Fat Tail to Describe Stock Market Risk

When the unexpected occurs and changes our view of stock market risk, we call it a black swan or fat tail because it is far from the mean of a bell curve.

August 24, 2015

How Your Lawn is About More Than Grass

Nothing but grass, lawns began as conspicuous consumption from the English and French aristocracy and now are a middle class manicured status symbol.

August 21, 2015

Some High Speed Trading History

Depending on how fast news travels, high speed trading can be done through homing pigeons or computers but both have created information asymmetry.

August 19, 2015

How to Find More of the American Dream

Recognizing that neighborhoods with better schools and other shared characteristics affect income mobility, anti-poverty policy can become more effective.