Economic Ideas

September 3, 2014
Arthur Ashe Stadium
Published by Elaine Schwartz at September 3, 2014
Categories

Using Prediction Markets to Catch Match-Fixing at Wimbledon

When supply and demand in tennis match prediction markets created illogical prices, researchers said that 3 matches at Wimbledon might have been fixed.

Do you like it?
Read more
August 31, 2014
A NASA satellite image of the world's night lights conveys economic information about developed and developing countries.
Published by Elaine Schwartz at August 31, 2014
Categories

Bedtime Stories… About the Economy.

From statistics and a satellite image of the world at night, we can see that developing countries lack the electrification they need for economic growth.

Do you like it?
Read more
August 29, 2014
Weekly Economic News Roundup and airplane seat
Published by Elaine Schwartz at August 29, 2014
Categories

Solving the Airplane Seat Problem

According to Ronald Coase, if reclining in an airline seat creates a negative externality, both parties can negotiate because the transaction costs are low.

Do you like it?
Read more
August 28, 2014
Starbucks tall latte index
Published by Elaine Schwartz at August 28, 2014
Categories

The Path of the Shifting Center of Global Economic Power

Led by Chinese economic growth and other emerging markets, the center of economic gravity is moving eastward from the developed world to Asia.

Do you like it?
Read more
August 27, 2014
Everyday Economics: With opportunity cost, planners can decide how much natural disaster preparation is worth the tradeoff.
Published by Elaine Schwartz at August 27, 2014
Categories

The Costs of Being Prepared for a Natural Disaster

Whereas natural disaster preparation can save lives, it might have too high an opportunity cost to make sense or be a ShakeAlert that has been proven.

Do you like it?
Read more