A few days ago, I appeared on NPR Morning Edition talking about Monopoly (the game, not the market form). Until then I hadn’t thought much about the economics of the game (which I played very often as a child, with our sons and for the past five years with our grandchildren).
The altruism of yacht-buyers towards shipyard workers has now been surpassed by those arguing for an extension of the Bush tax cuts of 2001 for the very well-to-do (family income above $250,000, probably the top 2 percent of taxpayers), scheduled to expire on December 31. A recent objection is that, by reducing net incomes of the rich, failing to extend this tax cut would reduce job creation, placing a burden on working-class families.
A few years ago, I hurried to catch a Berlin subway and forgot to buy the $2.10 ticket. Usually nobody checks tickets, although every once in awhile checkers pass through the subway-which they did on that trip! I paid an instant cash fine of $40 and was completely embarrassed and chagrined.
Three weeks until classes start, including my 500-student section of micro principles. Unlike in past semesters, I won’t be assigned any smart undergrads to lead review sessions. Budgets are limited, but all other “large” sections–some less than half the size of mine–have undergrad assistants assigned. “Why not?” I ask. I’m told it’s because I do a good job and don’t need the sessions.
A souvenir store on Unter den Linden in Berlin offers 15 minutes of “free” internet usage. To log in, you go to the counter, get an entry code, and are free to use a PC. Moreover, you can use the code to get 10% off the purchase price of any souvenir in the shop. But unlike some “free” deals that come with tie-in purchases, this is a voluntary tie-in.
One of my German colleagues has access to $30,000 for Gleichstellung-a German version of an EU-wide initiative to achieve equality between healthy white males and various “disadvantaged” groups, including women. Cleverly, the German government does not want people to substitute these moneys for other funds; as with any subsidy, there is a concern that people will spend it on activities they would have undertaken anyway.
Cutting deals in the art world.
Social norms in Europe and the U.S.
Rewarding kids the right way.
Extracting consumer surplus at the beach.
Some pros and cons of extending benefits.
Special addresses for porn websites.
For several years our local grocery story carried a brand of coconut sorbet, Ciao Bella, which we had for dessert several times a week. It was $5 per pint-pretty expensive-but worth much more than every penny. In the last month it hasn’t been on the store’s shelves. The manager informs me that they will not be stocking it…
Growing costs are on the rise.
They weren’t doing the laundry.
Why does it cost more to launder women’s shirts?
UT-Austin stays in the Big 12.
How to charge for one superstar team and one mediocre team.
Surviving a recession can make some businesses stronger.
Dan Hamermesh solicits your advice…
Maastricht University’s exchange policy.
Lab experiments say yes. But in the real world…
A wine pricing anomaly in Parisian restaurants.
Price discrimination in European spas.
A new policy at Texas restricts faculty travel to dangerous countries.
Going kosher improves profits at two restaurants.
An odd policy in Amsterdam’s Vondelpark.
The euro-area hasn’t quite caught up to the U.S.
Is the EU’s education policy sustainable?
Technological innovation in shoelaces.
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