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
economics
The Best Offense is a Good Defense
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
The Economics of Love
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
The Quest for Causality
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
Nash Equilibrium: Seeing the Forest Through the Trees
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
Money and the Pursuit of Happiness
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
Joining the Herd: Sheeple, or Rational Actors?
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?
How to Take Over the World using Game Theory
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
Covid Vaccinations and Your Noisy Neighbor
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
Why Do Airlines Overbook Flights?
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?