A central question of economics is to understand how in the heck social coordination is able to exist in such a crazy world. With all our differences in beliefs, resources, abilities, and more, it is remarkable people can work together long enough to produce a Big Mac pretty much anywhere in the world. Economists will … Continue reading Clearly Ambiguous — Institutions
Balloons Missing From Hospitals
While visiting a family member at the hospital, I stopped by the gift shop to buy a balloon and a “get well” card. I grabbed a card but there were no balloons. The chatty cashier responded grief-strickenly, “Can you believe it? They say there is a helium shortage. So, we can’t fill up balloons anymore. … Continue reading Balloons Missing From Hospitals
The Body’s Feedback Loops
Don’t you love feedback? Admittedly, some of us, not so much. But, if we think about it. Feedback is a necessary part of life. We get feedback whenever we do anything. If you try to shoot a basketball into the hoop, and you miss, you’re given instant feedback to change your form or improve your … Continue reading The Body’s Feedback Loops
Ready To Risk It All Part I, Options Pricing
Imagine what your life could be like if for any situation you could enjoy the upside without suffering any of the downside. Say you love the color yellow, but it totally washes out your skin tone. Or, perhaps you really want to Keep Up With The Kardashians but unfortunately there aren’t enough hours in the … Continue reading Ready To Risk It All Part I, Options Pricing