Ask the average person about her smartphone, and the odds are better than even that she’ll be able to recite the make, model, and salient features such as battery life and camera quality. She may even be in a position to rank the phone relative to other handsets and to make a recommendation as to … Continue reading Do Financial Regulations Decrease Financial Literacy?
Among statisticians, economists, and business executives, “Big Data” is all the rage. Large and detailed data sets that, until recently, couldn’t even be stored on a computer are now managed and analyzed using innovative statistical techniques. Hopes are high that these advances will improve scientists’ ability to predict human behavior. Some enthusiasts even speculate that … Continue reading Why Big data Won’t Save Central Planners from the Knowledge Problem
Are you surprised? Facebook seems to be a monopoly we are simply OK with. The platform serves as a welcomed monopoly on our time. We have no problem waiting in long lines or not having anything to talk about with the person in front of you. We can simply pull out our phones and sc(tr)roll … Continue reading Facebook Monopoly
tl;dr: Control the urge to update your friend on how or what the ex is doing on social media. It doesn’t help. Ending relationships is one of the hardest things we have to endure in life. If you search a top-10 list of hardest things to do in life, there are some broad areas that … Continue reading Facebook Etiquette: The Mutual Friend Dilemma
As the New Year inches closer and closer, many of us start rushing to come up with resolutions we wish to achieve in the next year. Some of us want to write more thank you notes. Others want to lose weight. Economists, policymakers, and business leaders are also writing down New Year Resolutions. For all … Continue reading Edmund Phelps: Find Your Natural Rate of Body Fat This Year