The Cost of a Parmesan Catastrophe

The cost of a natural disaster tends to be higher in dollars in developed nations and in victims in the developing world.

Behavioral Economics: When Do We Minimize Risk?

With Election Economics having concluded, for the next 4 weeks, Monday posts will focus on topics that relate to behavioral economics. Let’s start with Hurricane Sandy and my own NJ neighborhood. Really though, we will be looking at how many of…

Should Supreme Court Justices Know Economics?

Just some thoughts today about economics and the Supreme Court. Listening to Tuesday’s oral arguments,  I became concerned about some economic basics. Markets and insurance were key ideas. However, no one defined a market and insurance was initially mischaracterized. In…