With the World Cup in Brazil only a day away, the predictions are pouring in from gamblers, analysts, and even investment banks. All of them are trying to guess who will advance in the tournament, as well as who will win it all. But which model is best? It’s a question that can’t be answered in ...
When luck is part of the equation, we have to change our approach. Striving to be the best is not always the best strategy, especially if our time is limited.
The next generation will have plenty of gadgets when it grows up, but will it be happier? We need to measure that more carefully.
Daniel Altman: The power of mobility has diminished enormously, because these days it’s much harder to close the gap with the highest earners. Thanks to rising inequality, the same level of mobility just can’t make as much difference anymore.
Why is a manufacturing job superior to a job in any other sector?
It’s cheaper to save people’s lives in poor countries than it is in rich countries. So how much is a life worth?
Growth comes first, then more jobs, and then, as higher incomes translate into consumption, more growth… and then more jobs… and then more growth… until the next recession.
The government itself may have lost $300 million for every day that Congress dithered. These statistics certainly sound depressing, but their importance can be hard to grasp without some concrete points of reference.
The bookies can change their odds whenever they want, completely at their own discretion.
If consumers thought about the economics of Restaurant Week, they might prefer to stay away.
Today I went into my closet and realized that I had an old pair of shoes that I no longer wore. The shoes are still pretty serviceable, so I’ve been wondering what I should do with them. To an economist, this question does not have an easy answer. Here are my options: Throw them away. By ...
A little bit of game theory suggests how Edward Snowden's odyssey might end.
This week the New York Times published a story about Chinese investors snapping up property in the United States. Prices are rising here, but I don’t think these purchases are just speculation. Instead, the stateside spending spree is probably the latest manifestation of a well-known phenomenon ...
Feedback is important to every large organization, and complaints are one of the ways that big companies get feedback from their customers.
A fetish for failure has been sweeping the blogosphere, the Twitterverse, and the broader market for ideas for a couple of years now. It’s ridiculous, and here’s why.