April 2019 Friday’s e-links: From Fairness to National Jealousy Day and Congestion Pricing

Last updated 4/26/19 Every once in a while, (and sometimes each day) I listen to a great podcast, enjoy an article, or see a good video that I want to share with you. I like to think of them as…

Why Wall Street Might Care About Femtoseconds

Whether looking at the nineteenth century or now, Wall Street has always had fast traders who knew how to get the news before their competitors.

Throwback Thursday: When Wall Street Trading Was Slower

#TBT: Today we look back to how we used to trade stocks. Slower Trades Our story (sort of) starts 225 years ago on Wall Street with the origin of the New York Stock Exchange (NYSE). Gathering in coffeehouses or under…

How a Performance Metric Can Lead to a Giant Nail

In government, business and at home, the performance metrics we create always are accompanied by incentives that create unintended consequences.

Fast and Slow Stock Markets

Goldman Sachs is asking $30 million for a firm that, 14 years ago, it purchased for $6500 million ($6.5 billion). The story (sort of) starts 222 years ago. Wall Street was where our first Congress met, where Alexander Hamilton lived…

Presidential “Choice Fatigue”

Because with decision fatigue, the more decisions we make, the less energy we have for making decisions, so we increasingly prefer a default.

Some Greek Math

With a euro zone update on Greece unfolding (they might lease some islands but we’ll get to that in a moment), here is some Greek math that Michael Lewis presents in Boomerang. Referring to the deficit, during October 2009, the…

Michael Lewis and the Extra Cookie

During his 2012 Princeton Baccalaureate Address, financial writer Michael Lewis describes a college psychology experiment in which students were divided into teams, each composed of 3 people with a randomly assigned a leader. Given a social problem like drinking or cheating, the…

Greek (Debt) Myths

Maybe sell some islands and an ancient ruin or two? In Boomerang, Blind Side author Michael Lewis repeats what German politicians were suggesting in 2009 when they heard that the Greek debt was much larger than previous estimates. How much…

Why Might People Cheat?

When are people more likely to cheat? Behavioral economist Dan Ariely says to look at sweatshirts, the Ten Commandments, dollar bills and cans of Coca-Cola. In one experiment, Ariely discovered that more students would copy someone’s seemingly dishonest behavior during…