The answer is:
People buy less food and subsequently eat less and throw away less. For the customer, it’s good for the budget and the waistline; for the cafeteria (and the environment), it substantially cuts down on waste. Sounds like a win-win situation, unless you are the party who profits most from selling a high volume of food. Here, from an article in Restaurants and Institutions, are some details:
I saw my sister Linda when I visited Minnesota over the holidays. Linda is the one who came up with the title Freakonomics. She was complaining how unfair it is that everywhere she looks, she sees people ripping off her idea. I asked her what she was talking about, and she offered up lame examples like “Obamanomics.” I reminded her . . .
Last month we solicited your questions for Alex Rigopulos, co-founder of Harmonix, the video-game development company best known for its Guitar Hero and Rock Band games. Alex Rigopulos One of the most-asked questions was whether his games discourage players from learning to play real music. Rigopulos doesn’t think so; the games, he says, give people “a taste of what lies . . .
A few months ago, we coined a new word on this blog: “penultamour,” defined as “the last person to date another person before that other person took up with his/her eventual spouse.”
The word hasn’t exactly caught fire; but at least someone grabbed the domain name www.penultamour.com.
Image: cambodia4kidsorg Economists are notorious for making bad predictions. There are endless examples, but the first one that comes to mind is a book written by economist Kevin Hassett and co-authors entitled Dow 36,000. The title was their prediction of where the Dow Jones Industrial Index should be based on fundamentals. The book came out in the year 2000 with . . .
Dr. Richard Batista‘s wife’s health was failing, and so was their marriage. To save them both, he offered to be the kidney donor his wife Dawnell badly needed. Dawnell recovered, but their marriage didn’t. A few years later she filed for divorce. Now her husband says he wants his kidney back. If he can’t have it, he wants a payment . . .
It’s social change alright: 26 percent of working wives out-earned their working husbands in 2006, up by nearly half from 20 years ago.
Now that many more women are graduating college than men, higher-earning wives are going to become the new normal.
Sudhir Venkatesh‘s book “Gang Leader for a Day,” originally published last January, is now out in paperback. You can read reviews of it here, here, and here; and The Economist named it a book of the year. Robert Rosenkranz has proposed means of financial market regulation. His Wall Street Journal op-ed offers redress for the abysmal behavior of credit agencies, . . .
The Joint Congressional Committee on Inaugural Ceremonies wants the January 20 Obama inauguration to be “one of the most accessible in U.S. history.”
But the the laws of supply and demand are making accessibility hard for the average citizen.
Andrew Zimbalist Andrew Zimbalist is the Robert A. Woods professor of economics at Smith College and one of the most prominent sports economists in the land. (Yes, this is a big day for Andrews.) His most recent book — he’s published 18 — is The Bottom Line: Observations and Arguments on the Sports Business. He’s written broadly for the media, . . .
Take a look at this story reported at espn.com about the Portland Trail Blazers and Darius Miles. The Trail Blazers declared Miles medically unfit to play and released him. If he had played two more games with the team, his $18 million salary over the next two years would count against the Trail Blazers for the salary cap and they . . .
A female friend who I hadn’t seen in several months and I greeted each other yesterday with the usual hug and one-cheek kiss. If I had done this in 1970 I would have been looked on as really weird, or I might even have been slapped. The social norm on kissing has changed in the U.S.; and the norm elsewhere . . .
Andrew Lo Andrew W. Lo is the Harris & Harris Group Professor at M.I.T. and director of its Laboratory for Financial Engineering. (Here are some of his papers.) To my mind, he’s one of the most fluent guides to the state of modern finance in that he combines the rigors of a quant with a behavioralist’s appreciation for human intricacy. . . .
From the Pittsburgh Post-Gazette: The 15 highest-rated television shows in the local market in 2008 were Steelers games, according to N.F.L. and Nielsen Media Research. The only reason there weren’t 16 games is because the September 14 game at Cleveland was not rated because of Hurricane Ike. Once again, the Steelers led the league with the highest television ratings in . . .
I was stirring the syrup for a pecan pie when the phone rang. My friend Brenda Boozer called to tell me there had been a massive environmental disaster close to home, and could I possibly get away to take photographs?
Last week’s quotation bleg, asking for suggestions of notable recent U.S. Supreme Court quotes, elicited this response from Jerry E. Stephens, quoting now retired U.S. District Judge Wayne Alley (Western District of Oklahoma):
In my prior post, I blogged about introducing variable tolls on America’s highways. The basic idea: fight congestion by imposing tolls that vary in response to traffic levels. When roads are too crowded, hike the tolls, keep some drivers out, and thus keep traffic free flowing at all times.
We recently ran a bleg about dealing with too much data. That bleg prompted the following note from a reader named Geoff Barry: I had a thought on when it can be truly negative — even unhealthy. Too much medical information at a layman’s fingertips can actually be detrimental, both for the doctor treating the patient and for the patient . . .
The Economist‘s open debate: Is the world getting smarter or not? Look who got listed as an “amazing resource” for small businesses looking to cut costs. Instead of just deleting old computer documents, dispose of them with The Unloader. (HT: Kevin Allen Jr.) The top 2008 news articles that nobody cares about now. (Earlier)
Way back when in 2006, here’s what venture-capital legend John Doerr had to say about clean technology: “This field of greentech could be the largest economic opportunity of the 21st century.” As recently as early 2008, plenty of investors and technology companies were still predicting a clean-tech boom. But now? With a recession that has scrambled nearly everyone’s spending and . . .
We usually hear about these declines in isolation. But taken together, they seem to suggest that cultural pursuits across the board are on the decline. Indeed, if nobody seems out buying books, movies and music, what are they doing with their leisure time instead?
Apparently: going to the library.
I’m home after five months away, and it’s the first day back in my office. Before 2000, I would have viewed this day with great trepidation — piles of mail, numerous requests to do things for other people (referee papers, write promotion letters, etc.), and the possible heartbreaking rejection of a paper of mine by a journal (or the delightful . . .
With macroeconomic issues taking center stage, it is not clear that other issues, like crime, will get much attention in the Obama administration. Personally, however, I think it is an excellent time to reflect on our current approach to fighting crime. The United States has enjoyed a great deal of success over the last 15 to 20 years in reducing . . .
The January issue of Vogue, in its back-of-the-book Index section, lists 10 “inspired ideas” for the new year, “all in tune with environment- and recession-minded resolutions.” No. 9 on the list is a sewing kit. That seems pretty practical. “Missing button?” reads the text. “Torn pocket? Take matters into your own hands (and keep tailoring bills in line) with Smythson’s . . .
What do Bruce Pardo and Atif Irfan have in common? In case you’re not familiar with their names, let me rephrase: What do the white guy who dressed up as Santa and killed his ex-wife and her family (and then committed suicide) and the Muslim guy who got thrown off a recent AirTran flight on suspicion of terrorism have in . . .
As always, we try to bring you the best and latest in honor-payment commerce schemes. Here’s one from a town called Settle in North Yorkshire, England: A shopkeeper in North Yorkshire who wanted a day off on Boxing Day decided to leave his store open and let his customers help themselves. Tom Algie, who runs the Practically Everything hardware store . . .
Patrons at Cecil’s Jazz Club in West Orange, N.J., savored one of the last nights for smoking in bars and restaurants. (Photo: Marko Georgiev/The New York Times) A journalist writing for the Financial Times complains that Britain’s indoor smoking ban has resulted in more pubs closing and a decline in beer sales of 10 percent. I believe that smoking and . . .
Eric A. Morris is a researcher at U.C.L.A.’s Institute of Transportation Studies, concentrating on a variety of transportation issues including history, economics, and management. He weighed in here earlier on the gas tax. Here is his first of two posts on road tolls. Why You’ll Love Paying for Roads That Used to Be Free By Eric A. Morris A Guest . . .
The Times (of London) recently reported that “The F.B.I. has been forced to transfer agents from its counter-terrorism divisions to work on Bernard Madoff‘s alleged $50 billion fraud scheme.” This might lead you to ask an obvious counter-question: Has the anti-terror enforcement since 9/11 in the U.S. helped fuel the financial meltdown? That is, has the diversion of resources, personnel, . . .
One of the coolest things about posting at Freakonomics is the chance to be educated by your high-quality comments, which add to our posts and sometimes correct our mistakes. But to be honest, every once in a while I have been depressed by the harsh general tone of criticism. (For example, the comments here got me down. To be specific, . . .