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Economics

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Selection Bias at the Carnival

Monday, April 21st, 2008

This last weekend my university campus was open to prospective students and their families. Following the spring football game, the university hosted a small carnival with amusement rides and traditional carnival games. I went with a couple friends who satisfied their inner thrill-seeker with a ride on the ferris wheel. However, I was able to […]

Price Discrimation in Education

Wednesday, April 9th, 2008

The president of a regional liberal arts college gave a presentation at my university today about price discrimination in higher education. Private colleges almost universally set tuition at a high rate and then offer a combination of need and merit-based scholarships to students based on their willingness to pay. In theory, poor students with rich […]

Skin in the Game

Wednesday, April 2nd, 2008

While grocery shopping with a friend of mine, she mentioned that she always buys the slightly more expensive eggs.  The higher price signals that the eggs are of higher quality.  If the pricey eggs are still on the market, someone must be buying them for a reason.  In unfamiliar markets consumers often use price to […]

Firefighting and Immigration?

Tuesday, February 26th, 2008

I’ve been reading up on the economics of fighting wildfires in the West. As an undergraduate, I had a few friends who fought wildfires during the summer. Most of them worked for the U.S. Forest Service, but one was employed by a private company which received government contracts. The use of private contractors has become […]

My Arms Hurt

Friday, February 22nd, 2008

The other day I lifted weights for the first time in months. There are some tangible benefits to larger muscles. I would enjoy being able to dunk a basketball with authority. And, stronger arms would have been useful when I removed my refrigerator yesterday. However, if we are honest, looking good drives most people’s desires […]

College Hoops and the Endowment Effect

Thursday, February 21st, 2008

My university has a good basketball team that has been consistently ranked this season. A few weeks ago we played our arch-rival at home. Student tickets were only available in season packages at the beginning of the fall semester. If you didn’t have season tickets and wanted to go to the big game, you had […]

Are Payday Loans Repugnant?

Monday, February 18th, 2008

I didn’t get my first credit card until I was 22 years old. Up until that point, I had no need for one. I had adequate savings and paid for most of my expenses with scholarship money and part-time jobs. However, when my savings dwindled I wanted some credit in case of emergency. It was […]

Happy Valentine’s Day

Thursday, February 14th, 2008

I’m not really qualified to be giving Valentine’s Day advice.  But, you should check out self-described aspiring economist Glen Weyl’s Valentine’s Day guide to going to the movies. Valentine’s Day reminds me of how important signaling is in our relationships with one another.  We put such an emphasis on picking the right gift or finding […]

Two Books Worth Reading

Tuesday, February 12th, 2008

The Logic of Life, Tim Harford: Harford uses rationality to explain everything from the Cold War to increased divorce rates. If you read many economics blogs, you will undoubtedly be familiar with some of the academic work he references. Nevertheless, what the book lacks in novelty is more than compensated by Harford’s articulate writing. And, […]

On Marriage and Scarcity

Monday, February 11th, 2008

I’ve been thinking about marriage a lot lately. Maybe, it’s because my brother is in a serious relationship where marriage is a very real possibility (my mom is sure pushing for it). Maybe, I’m kind of a sap and think about my future plans more than most guys. I’m sure part of it involves seeing […]

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