Latest Articles
Bad Decision - TED lecture (2/28/2014)
Bad decisions are made because people are bad at figuring out the odds and values of possible events.
Bad decisions are made because people are bad at figuring out the odds and values of possible events.
Oil Glut (2/4/2014)
Supply gluts do not always result in low prices to consumers if supply and demand conditions are not allowed to freely interact.
Supply gluts do not always result in low prices to consumers if supply and demand conditions are not allowed to freely interact.
Lounging in Luxury - Can You Afford It? (1/29/2014)
The value of luxury goods can be preserved only if access to them is restricted.
The value of luxury goods can be preserved only if access to them is restricted.
The Wedding Party Dilemma- To Go or Not to Go? (1/29/2014)
The cost and benefit of human relationships cannot always be measured in dollars and cents.
The cost and benefit of human relationships cannot always be measured in dollars and cents.
Re-counting GDP (9/9/2013)
Some long-lived intangible assets will be counted as capital investment rather than one-time expenses in US GDP.
Some long-lived intangible assets will be counted as capital investment rather than one-time expenses in US GDP.
Price Gouging? - Historical Cost vs Opportunity Cost cartoon (4/12/2013)
Pricing at opportunity cost rather than historical cost can solve market shortages. In other words, "price gouging" can be an unsung hero.
Pricing at opportunity cost rather than historical cost can solve market shortages. In other words, "price gouging" can be an unsung hero.
No Chicken Feet! - youtube cartoon (3/28/2013)
Chicken feet, long considered a waste product in the US, have become a profit center for the high-volume low-profit US chicken industry in the China export market. But the export trade is not exempted from political whims.
Chicken feet, long considered a waste product in the US, have become a profit center for the high-volume low-profit US chicken industry in the China export market. But the export trade is not exempted from political whims.
