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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.

August 28, 2014

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.

August 27, 2014

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.