Weekly Roundup: From Wimbledon to Estonia

Our weekly roundup includes stories from everyday economics that relate to the market, the minimum wage, the price system and productivity & human capital.

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.

Our Weekly Roundup: From Tipping to Startup Airlines

Our weekly roundup includes everyday economics that relate to entitlements, the market, competitive market structures, regulation and labor.

The Message From NFL Ticket Prices

Through the price system, because many consumers and businesses make buying and selling decisions for the same good or service, price conveys information.

One Reason That We Have Nutella

Inside a jar of Nutella you might have a little bit of the Ivory Coast, Turkey, Malaysia, the EU and the US. Processed in the EU, Turkey, Russia, Australia, North or South America, the cocoa and hazelnut spread is then…

How High Can a Taxi Fare Go?

Tough to get in rain, ice or snow, NYC cabs never seem to be around when I need them. That is what makes Uber such a great story. First used in San Francisco, the idea behind Uber was to make…

The Power of the Market: A Better Business Class Seat

The power of the market could be the reason that 50 or 60 people can comfortably sit, sleep, dine, work and enjoy some entertainment in a very small space. Airlines know that they can charge global business travelers as much as…

The Price System: Quinoa Economics

Why aren’t we eating more quinoa (keen-wah)? Let’s just start with a NASA quote: “While no single food can supply all the essential life sustaining nutrients, quinoa comes as close as any other in the plant or animal kingdom.” Essential…

The Price System: Surfonomics

Do you think of the environment differently when you give it a price? Take a wave… For just one community like Mavericks off Half Moon Bay, California, the surfing industry is valued at $23.9 million a year. Meanwhile, spending approximately $6.3 billion…

The Price System: Can You “Pay What You Want?”

In selected cities, Panera Bread is letting you decide what to pay for a bowl of turkey chili. Knowing that that the firm will cover its costs and the rest will go to charity, many people are paying more than…