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Do Rappers Exaggerate Their Wealth?

In his new album, rapper Jay-Z expresses skepticism about some of his colleagues’ claims of extraordinary wealth, saying, “The truth in my verses, versus, your metaphors about what your net worth is.”  So are your favorite rappers lying about how rich they are?  Bloomberg Businessweek straightens out the confusion with a great graphic comparing alleged vs. actual wealth.  Here’s a preview: Nicki Minaj is not “mak[ing] a billi like a big goat.” (HT: The Big Picture)



The Face of a CEO

We’ve blogged before about the influence that beauty can have on earnings and career choices. But what about the shape of a face? A new paper in the British Journal of Psychology looks at the faces of U.K. executives. Researchers Shuaa Alrajih and Jamie Ward found that CEOs have greater than average facial width-to-height ratios. The abstract:

The relative proportion of the internal features of a face (the facial width-to-height ratio, FWH) has been shown to be related to individual differences in behavior in males, specifically competitiveness and aggressiveness. In this study, we show that the Chief Executive Officers (CEOs) of the leading UK businesses have greater FWHs than age- and sex-matched controls. We demonstrate that perceivers, naive as to the nature of the stimuli, rate the faces of CEOs as higher in dominance or success, and that ratings of dominance or success are themselves correlated with the FWH ratio. We find no association with other inferred traits such as trustworthiness, attraction or aggression. The latter is surprising given previous research demonstrating a link between FWH and ratings of aggression. We speculate that the core association may be between FWH and drive for dominance or power, but this can be interpreted as aggression only in particular circumstances (e.g., when the stimuli are comprised of faces of young, as opposed to middle-aged, men).



How Do Real Prisoners Play Prisoner’s Dilemma?

Economists Menusch Khadjavi and Andreas Lange recently published a paper on how real prisoners play the Prisoner’s Dilemma game:

We report insights into the behavior of prisoners in dilemma situations that so famously carry their name. We compare female inmates and students in a simultaneous and a sequential Prisoner’s Dilemma. In the simultaneous Prisoner’s Dilemma, the cooperation rate among inmates exceeds the rate of cooperating students. Relative to the simultaneous dilemma, cooperation among first-movers in the sequential Prisoner’s Dilemma increases for students, but not for inmates. Students and inmates behave identically as second movers. Hence, we find a similar and significant fraction of inmates and students to hold social preferences.

(HT: Marginal Revolution)



A Burger a Day: Full Transcript

This is a transcript of the Freakonomics Radio podcast “A Burger a Day.” Kai RYSSDAL: Time now for a little Freakonomics Radio, it’s that moment every couple of weeks we talk to Stephen Dubner, the co-author of the books and the blog of the same name. It is “the hidden side of everything.” Dubner, how are […] Read More »



Can Geography Be Radical?

Guernica recently interviewed “radical geographer” Denis Wood about his work and the power of map (a topic we’ve touched on before). Here’s a particularly interesting excerpt:

But I’ve seen maps that I find completely terrifying. Maps of uranium mining and of various illnesses in the Navajo reservations—they’re just insane. They just make you furious. Bill Bunge’s map—which I still think is one of the great maps, the map of where white commuters in Detroit killed black children while going home from work—that’s a terrifying map, and that’s an amazing map. He knew that. They had to fight to get the data from the city. They had to use political pressure to get the time and the exact location of the accidents that killed these kids. They knew what they were looking for. I didn’t have anything to do with that project, so when I saw the map for the first time, it was like, “Oh my god.” It’s so powerful to see maps like that. That’s the power of maps, or one of the powers of maps: to make graphic—and at some level unarguable—some correlative truth. We all knew that people go to and from work. But to lay the two things together reveals something horrible.

(HT: The Daily Dish)



The Economics of Higher Education, Part 4: Worldwide Returns on College

We’ve discussed before — in blog posts and a podcast — the value of a college degree. Writing for the New York Times Economix blog, Catherine Rampell points out that college degrees are particularly valuable in the U.S. “According to a report released this week by the Organization for Economic Cooperation and Development, across the developed world the average person who has graduated from college (either two-year or four-year) and has any earnings makes about 57 percent more than a counterpart with no more than a high school education,” writes Rampell. “In the United States, the comparable earnings premium is 77 percent.”  

Despite the value of a college degree in the U.S., college graduation rates in the U.S. are increasing at a much slower pace than in other rich countries.  And, as Rampell points out, it’s not just individuals in the U.S. that benefit from a college degree: “[T]he average return to taxpayers [of tertiary education for the average man] is $230,722 in the United States, versus less than half that, $104,737, across the developed world.” 

For more on “The Economics of Higher Education,” see Part 1, Part 2, and Part 3.

Also: Oregon is thinking about letting students pay no college tuition, instead pledging a share of their future earnings. Lest you think this is straight out of Portlandia (like this is), know that Australia runs a similar college-tuition program



Further Evidence That Wine Tasting Is Wildly Subjective

A few years ago, we did a podcast on whether expensive wine tastes better. There is now further evidence that the answer to that question is no — even for elite wine critics. Winemaker Robert Hodgson recently collaborated with the California State Fair wine competition on a little wine-tasting experiment:

Each panel of four judges would be presented with their usual “flight” of samples to sniff, sip and slurp. But some wines would be presented to the panel three times, poured from the same bottle each time. The results would be compiled and analysed to see whether wine testing really is scientific.

The first experiment took place in 2005. The last was in Sacramento earlier this month. Hodgson’s findings have stunned the wine industry. Over the years he has shown again and again that even trained, professional palates are terrible at judging wine.

Read More »



“Jane Austen, Game Theorist”: Full Transcript

This is a transcript of the Freakonomics Radio podcast “‘Jane Austen, Game Theorist.’” [MUSIC: Susie Ibarra, “Fractal 4” (from Flower After Flower)]   Stephen J. DUBNER: Hey Levitt, what is your, your personal favorite Jane Austen book?   Steve LEVITT: (laughs)   [THEME] ANNOUNCER: From WNYC and APM, American Public Media: This is Freakonomics Radio, the […] Read More »