Whether about cows or chicken nuggets, sometimes seemingly insignificant new food technology can have an unexpectedly massive impact.…
When a Tax Rate Is Not as Simple as It Sounds
Referring to “The Son of Man,” Belgian surrealist artist René Magritte said, “Everything we see hides another thing.” Instead, Magritte could have been describing corporate tax…
When Organ Donors Need More Than a Nudge
Sometimes increasing deceased organ donations takes more than a nudge because of the behind-the-scene details that are necessary.…
New Territory for Self-Driving Cars
Whereas the Model T brought us suburbia, highways and McDonald’s, the spillover from self-driving cars will also transform our lives at home and at work.…
Street Grid Economics
More than we realize, our economic behavior in a city is shaped by the urban planning that created the shape, the length and the width of the streets.…
Weekly Roundup: From Pacesetters to Prices
Our everyday economics includes externalities, supply and demand, price maker, monopolistic competition, oligopoly, statistics, money supply & innovation.…
Choosing Between Male and Female Bosses
Resulting in gender job discrimination and talent underutilization, past practice shapes future preference when choosing men as bosses and athletic coaches.…
Three Graphs That Tell the Whole Oil Story
Following the law of supply, U.S. shale oil firms will lower output because OPEC is letting price plummet but airlines on demand side like lower prices.…
What It Means to be Cool
As a technological innovation, air conditioning led to a ripple of positive externalities. Affecting how we live and work, it had private and social return.…
Solving the Airplane Seat Problem
According to Ronald Coase, if reclining in an airline seat creates a negative externality, both parties can negotiate because the transaction costs are low.…