Oh, 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. And on the other side of the aisle, we have the finance millionaires — or the financial establishment — waiting somewhat patiently for Bitcoin’s inevitable expiry. Continue reading “Robert Engle III: Predicting Bitcoin’s Volatility”
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 folds. As the day drags on, the same dealer deals our gambler the same five cards with the same odds against the same people at the same table. Does he fold? Kahneman’s insight is…it depends. Continue reading “It Depends: The Kahneman Frame of Mind”
If you live in the city like me, public transportation is a way of life. It helps you go from point A to point B without having to own a car. Since moving to DC, I have discovered many alternative modes of transportation. I have the option to walk without having to pay a dime. I can also take the bus or metro rail system for a low fare rate, relatively quickly* (*see Metro complaints). Continue reading “It Matters How You Get There: McFadden and the Metro”
Gotta get y’alls blood pumping for this post, so let’s start with a pop quiz! Yes, this is graded.
Which country is more prosperous? The US or Saudi Arabia? Got your answer locked in? Continue reading “Amartya Sen: Just What are We Capable of?”
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.” You thought he was going to teach you how to make money. Continue reading “Robert Merton: Finally, The Real Key to Making Cheddar (And Possibly Causing Recessions)”
It’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. Very few achieve this status and as seen from our weekly Bygone Econ Icon, the contributions from the winners of the prize in economics are huge. Though there are a number of qualified economists in the field today, here are our picks of who will likely receive the prize on October 9th. Continue reading “Current Econ Icons: Our 2017 Nobel Laureate Picks”
Don’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. Continue reading “Robert Lucas: Lower Your Expectations”