Sock Exchanges and the Utility of Gift Giving

Happy holidays and Merry Christmas! Do you struggle with getting the right gift? Maybe it’s because of utility! Kathryn and Kenzi discuss how economics helps us understand why giving gifts is just so hard and why every gift exchange should include socks. 

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Bacon and Elasticities

What’s your favorite breakfast food? In this episode of Katallaxy, Kathryn and Kenzi discuss the elasticities of breakfast. After this episode, Kenzi is debating whether she needs to hold an intervention for Kathryn’s obsession with bacon. Listen in to discover just one more way economics applies to your daily life.

Continue reading “Bacon and Elasticities”

Online Dating and Economics

Kathryn and Kenzi invite you to listen to ReasonablEconomics’ very first podcast. They share stories, advice, commentary on recent events, and lots of economic jargon. Leave your comments below: feedback is necessary for the growth and development of any functioning society, as Adam Smith says! Continue reading “Online Dating and Economics”

Who’s going to win the Nobel Prize: Our Picks… In Case You’re Interested

The Nobel Memorial Prize in Economic Studies is awarded on Monday, October 8, 2018, and your favorite commentators from ReasonablEconomics are here to give their predictions for who will take home the prize, glory, and potential $1.4million. Continue reading “Who’s going to win the Nobel Prize: Our Picks… In Case You’re Interested”

Robert Engle III: Predicting Bitcoin’s Volatility

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”

It Depends: The Kahneman Frame of Mind

By Andrew M. Baxter

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”

It Matters How You Get There: McFadden and the Metro

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”

Robert Merton: Finally, The Real Key to Making Cheddar (And Possibly Causing Recessions)

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)”

Current Econ Icons: Our 2017 Nobel Laureate Picks

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”