Our economic news summary includes underutilizing female labor, delayed gratification, pricing medical care, interstate migration & assessing labor markets.
Long queues can be reduced with new incentives. Instead of first-come-first-served, if the last to arrive were served first, then we’d have shorter queues.
Whether you stand in long lines to self-signal or you hire someone to do the wait for you, your decision reflects tradeoffs that relate to time.
Our everyday economics includes GDP, human capital, price system, public goods, taxes, gender pay gap, externalities, subsidies, marriage economics and ROI.
Seeing government’s inefficiencies through a driver’s license renewal process reminds us to recognize the tradeoffs from creating public goods and services.
At one of my favorite restaurants in Nantucket, you can call at any time during the summer to get a 6:00 reservation. But if you want to eat at 7:30 or 9:00, you have to line up outside on that…
Have you ever thought of traffic congestion as a queue? Concerned about congestion on Oscar night, engineers in LA have manipulated traffic to keep the limo queues moving. Before Crash won the Oscar in 2006, street-based observers were calling in with,…