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economics

Oh baby… a look at the baby formula shortage

August 14, 2022

I think everyone remembers the "great toilet paper shortage" of 2020, when toilet paper all of a sudden turned into one of the most coveted items in … [Read more...] about Oh baby… a look at the baby formula shortage

Tags - baby formula, economics, imports, market concentration, shortage, supply and demand

The Best Offense is a Good Defense

May 9, 2022

game theory is often applied to studies of nuclear weapons

The Case Against Bomb Shelters The nuclear standoff between the United States and the Soviet Union during the Cold War will surely go down as one of … [Read more...] about The Best Offense is a Good Defense

Tags - economics, game theory, statesmanship

The Economics of Love

February 14, 2022

When I saw that my next blog post was going to post on Valentine's Day, I asked myself the question: "What can economics tell us about love?" I know, I … [Read more...] about The Economics of Love

Tags - economics, game theory, Valentine's Day

The Quest for Causality

November 15, 2021

Nobel Prize medal. The 2021 Prize in Economics was awarded for work to prove causal relationships in economics research.

The 2021 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was awarded jointly to David Card “for his empirical contributions to … [Read more...] about The Quest for Causality

Tags - causal relationships, economics, natural experiments, Nobel Prize, research methods

Nash Equilibrium: Seeing the Forest Through the Trees

October 4, 2021

The Nash equilibrium is the most common way to define the solution of a non-cooperative game involving two or more players.

Around the 1940s and 1950s, a defining moment in the development of economic thought was underway, led by academics such as Paul Samuelson and John … [Read more...] about Nash Equilibrium: Seeing the Forest Through the Trees

Tags - economics, game theory, Nash equilibrium, price

Money and the Pursuit of Happiness

July 12, 2021

Economists love to talk about money. Everywhere you look, you see economists in news columns or on television chiming in. They offer projections about … [Read more...] about Money and the Pursuit of Happiness

Tags - economics, happiness, Money, utility, wealth

Joining the Herd: Sheeple, or Rational Actors?

April 19, 2021

herd-sheep-probability

If recent years have taught us anything, it’s that the increase in the availability of information made possible by our almost unfettered … [Read more...] about Joining the Herd: Sheeple, or Rational Actors?

Tags - covid-19, economics, probability, sheep, theory

How to Take Over the World using Game Theory

March 1, 2021

Long before Rome was that vast and magnificent empire which occupies a prominent place in the modern public imagination, it was once only one of many … [Read more...] about How to Take Over the World using Game Theory

Tags - economics, game theory, microeconomics

Covid Vaccinations and Your Noisy Neighbor

February 4, 2021

covid vaccination noisy neighbors

If you have ever lived in an apartment building, you have probably encountered them: the noisy neighbors. Whether it is running the vacuum or playing … [Read more...] about Covid Vaccinations and Your Noisy Neighbor

Tags - economics, externalities, herd immunity, microeconomics, vaccinations

Why Do Airlines Overbook Flights?

January 11, 2021

airlines overbook flights on purpose

If you travel a lot by airplane, you have almost surely encountered an overbooked flight. Maybe you were even the person who volunteered to get on a … [Read more...] about Why Do Airlines Overbook Flights?

Tags - airlines, economics, overbooking seats, quantitative analysis, statistics

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