What Empty Stadiums Could Do To MLB

With coronavirus social distancing, MLB revenue and costs will depend on if, how many, and when fans can attend baseball games.

Weekly Roundup: From the Diner’s Dilemma to Lost Labor

This week’s economic news summary includes the diner’s dilemma and marginal analysis, property rights in outer space, the Phillip’s Curve and unemployment.

The Diner’s Dilemma: Should You Divide the Check Equally With Friends?

Like the tragedy of the commons, splitting a bill among friends at a restaurant involves an individual’s marginal benefit and the group’s marginal cost.

Weekly Roundup: From Hot Hands to Sunk Costs

The behavioral economics ideas from our everyday economics are confirmation, expectations and projection bias, frames, temporal discounting and sunk costs.

Explaining the Health Club Memberships We Don’t Use

Behavioral economics explains that we sign up for health clubs and then don’t exercise because of unrealistic pre-commitment and upfront payment.

The Bills in Detroit and Elsewhere

Whether looking at the Buffalo Bills unexpectedly traveling to Detroit, college or high school football, the marginal cost of travel is rising.

The Surprising Impact of the Shot Clock On Basketball

This 60-foot shot is amazing. The game was between Shakopee and Hopkins, 2 Minneapolis-St. Paul area high school basketball teams. Playing a semifinal playoff, in quadruple overtime, Hopkins won 49-46 with the 60-foot shot. Hopkins’s strategy? They stalled with the…

The Cost of Conservation

By Madeleine Vance, guest blogger and student at Kent Place School. Saving water is supposed to allow us to cut down costs. For the drought-stricken city of Wichita Falls in Texas, this is not the case.  In 2013, Wichita Falls’s…

Marginal Children

By Mira Korber, guest blogger. American births are on the decline; the number per year has fallen from 4.3 million (2007) to 4 million (2010), perhaps due to a shaky economic situation. However… Why is raising more kids less expensive…

Stormy Issues

For Hurricane Irene relief, the debate is again about the debt. Let’s start with the Congress. Expressed by Texas Representative Ron Paul, government should not play a role because “intrusive” bureaucracy” hinders local people and volunteers. Instead, private insurance is…