Latest Articles
Discriminating Business Sense (3/30/2001)
Club owner increases revenue by charging customers according to their demand elasticity.
Club owner increases revenue by charging customers according to their demand elasticity.
The Tragedy of the Popsicle Commons (2/15/2001)
Over-exploitation of commons resources could be avoided if the rights to commonly owned resources are assigned to individual owners.
Over-exploitation of commons resources could be avoided if the rights to commonly owned resources are assigned to individual owners.
Taxes and Commercials, Necessary Evils? (11/28/2000)
Taxes and TV commercial take away what we could have otherwise, but are necessary to support 'free services'.
Taxes and TV commercial take away what we could have otherwise, but are necessary to support 'free services'.
Rent Ceiling (8/31/2000)
Rent control in Boston, MA has led to most apartments charging rent right up to the price ceiling. The effective rent is actually higher if under-the-table payments are included.
Rent control in Boston, MA has led to most apartments charging rent right up to the price ceiling. The effective rent is actually higher if under-the-table payments are included.
The Waiting Game (7/27/2000)
Waiting line management employs allocational mechanisms much like those for different economic systems. All these mechanisms seek to combine equity with efficiency in allocating scarce resources.
Waiting line management employs allocational mechanisms much like those for different economic systems. All these mechanisms seek to combine equity with efficiency in allocating scarce resources.
Variety Is the Spice of Life? (7/27/2000)
Thanks to the law of diminishing marginal utility, couples in a heated love relationship manages to divert exclusive time spent together to other higher yielding activities.
Thanks to the law of diminishing marginal utility, couples in a heated love relationship manages to divert exclusive time spent together to other higher yielding activities.
More Money, More Options (2/25/2000)
Fast foods are inferior goods that are used more when income is low. "Sit down" restaurant meals are normal goods that are consumed more when income is high.
Fast foods are inferior goods that are used more when income is low. "Sit down" restaurant meals are normal goods that are consumed more when income is high.
