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September 24, 2014

What Do iPhones and Pencils Have in Common?

Whether looking at the supply chain for a pencil or an iPhone 6, we see globalization because price system incentives create cooperation.

September 3, 2014

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.

August 31, 2014

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.

August 29, 2014

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.