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. Kenzi: My pick for the 2018 Nobel Prize goes to none other than, Daron Acemoglu for institutional analysis … Continue reading Who’s going to win the Nobel Prize: Our Picks… In Case You’re Interested
Selling your kidney to someone in need is illegal in the United States. Apparently, giving up an organ at a market price is deemed unethical, or “repugnant.” As a result, the market doesn’t work because the price is too low. Well, it’s effectively zero. To overcome this “market failure”, economists have attempted to engineer a … Continue reading Kidneys: If You Can’t Sell Em, Marry Em
Every time we find out about a big company swallowing up a smaller company for a ridiculous amount of money, we get a feeling something fishy is going on. They’re probably just trying to squash the competition and become enormous monopolies to force us lowly consumers into paying higher prices for their products, right? We … Continue reading A Williamson-esque Approach To Moving In With Your Hunny
Lately I’ve been knee deep in the process of job searching. Let me tell you guys, this is an ordeal. Although most people don’t think about it this way, finding a job is very costly! It’s a difficult process with a lot of what economists would call unseen costs. There are the costs of finding … Continue reading Dale T. Mortensen-You Gotta Work Before You Work
Do you live with roommates? If so, you might be living with commons problems like my case of the Black Kettle. Elinor Ostrom's Nobel Prize winning work offers a different solution to "the tragedy of the commons".