Jul 13, 2020A Potentially Useful Nudge to Calm the Brewing Concerns Over Face to Face Fall ClassesThis was kinda just blurted onto the page, so forgive any weird grammar stuff. It has not been peer-reviewed. :) On the school openings front, some folks are coming out in opposition to the schools reopening in the fall, or are sharing some earnest concerns. I think they are right…Covid 194 min readCovid 194 min read
Oct 7, 2018A Better Choice Architect#triggerwarning Behavioral economics has received a new wind of hype with Richard Thaler winning the Nobel Prize in economics in 2017. The big idea is his (and Cass Sunstein’s) coining of the term “choice architecture.” Moreover, they also coined the term “libertarian paternalism” as a way of employing the big…Behavioral Economics5 min readBehavioral Economics5 min read
Feb 15, 2018Overcoming the Public Stigma of Mental Illness to Protect Our LibertiesThe occurrence of another mass shooting brings back all the old arguments from both sides of the main ideological spectrum. However, consensus can be achieved when the common trend — mental illness among mass shooters — is pointed out. Unfortunately, this consensus does not keep the arguments from reaching a…Mental Health4 min readMental Health4 min read
Published in Bygone Econ Icons·Dec 10, 2017Robert Engle III: Predicting Bitcoin’s VolatilityOh, Bitcoin. It has people more divided than our commander-in-chief. On one side, we have the aspiring (or closet) millionaires — the Bitcoin enthusiasts — preaching the good word of cryptocurrencies. …Bitcoin5 min readBitcoin5 min read
Published in Bygone Econ Icons·Dec 6, 2017It Depends: The Kahneman Frame of MindBy Andrew M. Baxter A gambler walks into MGM Grand, pockets swollen with $10,000. He converts his cash to chips and finds a seat. After playing poker for an hour, he understands the play style of his opponents. Feeling comfortable, he examines his middling five-card hand, considers the odds, and…Psychology3 min readPsychology3 min read
Published in Bygone Econ Icons·Oct 27, 2017Robert Merton: Finally, The Real Key to Making Cheddar (And Possibly Causing Recessions)So… we admit Alex gave you the ol’ bait ‘n switch with his post on Harry Markowitz, who basically came up with the sound advice that we shouldn’t put all our eggs in one basket. He teased saying that this was the “key to making cheddar.” …Finance4 min readFinance4 min read
Published in Bygone Econ Icons·Oct 6, 2017Current Econ Icons: Our 2017 Nobel Laureate PicksIt’s that time of the year again! Sure, the leaves start falling and we bring out the winter clothes, but what we really care about is the annual Nobel Prize award. Winning the Nobel Prize is like leveling up to Chuck Norris status; only the best in the field win…Economics5 min readEconomics5 min read
Published in Bygone Econ Icons·Sep 28, 2017Robert Lucas: Lower Your ExpectationsDon’t you hate it when you hit rush hour traffic? How about when you end up going to lunch at your favorite chicken spot and the line is out the door? Me too. I’m never surprised by the rush hour or the long lines. Sometimes, I get frustrated with myself…Macroeconomics5 min readMacroeconomics5 min read
Published in Bygone Econ Icons·Sep 7, 2017Gary Becker: Why You Are A CriminalWhy do seemingly “normal” or “rational” people break the law and become criminals? Is there an explanation for why people commit seemingly stupid crimes? “An armed Omaha teen carjacker out on bond is back behind bars because he stole a woman’s car early Thursday but was stumped by the stick…Economics5 min readEconomics5 min read
Published in Bygone Econ Icons·Aug 18, 2017Trygve Haavelmo: Bringing Economics To Decision MakersAlmost all the choices we make in life — like trying a new restaurant, deciding to go to school, or moving across the country for a new job — are made with some level of uncertainty. …Economics4 min readEconomics4 min read
