Latest Articles
The Soviet Union - Super Power or Paper Tiger? (4/14/2000)
The dismal transition of the centrally planned Soviet economy to a market economy results from the collapse of an effective government with an encompassing interest and the non-existence of secure property rights.
The dismal transition of the centrally planned Soviet economy to a market economy results from the collapse of an effective government with an encompassing interest and the non-existence of secure property rights.
Transaction Costs and Market Structure (2/2/2000)
The ubiquitous existence of transactions costs in the real world determines both the institutional structure within which prices are set and the level of prices.
The ubiquitous existence of transactions costs in the real world determines both the institutional structure within which prices are set and the level of prices.
The Origin of Predictable Behavior (11/5/1999)
Economic behavior is predictable largely because bounded rationality leads people to adopt rules of thumb which display greater regularity than does optimization.
Economic behavior is predictable largely because bounded rationality leads people to adopt rules of thumb which display greater regularity than does optimization.
Disruptive Technology (9/28/1999)
Dominant companies' preoccupation with pleasing high-end customers for higher profit margin inadvertently creates niches at the low-end of the market for start-ups to invade.
Dominant companies' preoccupation with pleasing high-end customers for higher profit margin inadvertently creates niches at the low-end of the market for start-ups to invade.
The Harried Leisure Class (9/3/1999)
Consumers in rich countries have become harried in their futile attempt to increase the productivity of their non-work time.
Consumers in rich countries have become harried in their futile attempt to increase the productivity of their non-work time.
Doing It Now or Later (8/20/1999)
People who believe that they will procrastinate when faced with immediate costs and prematurely appropriate immediate rewards may counteract this tendency sometimes to their own benefits.
People who believe that they will procrastinate when faced with immediate costs and prematurely appropriate immediate rewards may counteract this tendency sometimes to their own benefits.
Prices and Sanctions? (8/13/1999)
Prices compel decision makers to consider the monetary costs of their acts, whereas sanctions deter people from doing what is wrong.
Prices compel decision makers to consider the monetary costs of their acts, whereas sanctions deter people from doing what is wrong.
