Because middling food like hamburgers is consumed by most people in the affluent West, what we eat does not necessarily reflect inequality or social status.
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The Maple Syrup Heist
Because the prices in Canada’s maple syrup market are controlled by its strategic reserve, the market resembles a cartel that distorts supply and demand.
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.
Weekly Roundup: From Data Spies to Ivory Trackers
Our economic news summary ranges from elasticity and a Berkeley soda tax to the minimum wage and the cost of living, to the power of the market and ivory.
The Data That Keep Track of Us at Work
When worker performance is monitored through data collection of what we do and how long it takes, productivity increases but perverse incentives result too.
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.
Weekly Roundup: From Slow Mommy Tracks to Fast Wall Street Traders
Our weekly economics news summary included the yuan and foreign exchange, Google and branding, parental leave and incentives, and choosing your own price.
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.
The Yuan Devaluation and the Big Mac Index
Showing the purchasing power of different currencies and under-and overvaluation, the Big Mac Index can provide an understanding of the yuan devaluation.
Weekly Roundup: From Skyscraper Shadows to Trendy Foods
This week’s everyday economics includes property rights, trade, creative destruction, entitlements, tradeoffs, conservation, externalities, price, and markets.