An All-Pay Auction
…pay, this means that the professor rakes in about three times the amount being auctioned. This is an example of what auction theorists call an “all-pay” auction, and it’s a…
There ain’t no such thing as a free parking spot. Somebody has to pay for it — and that somebody is everybody.
Lewis got incredible access to Sam Bankman-Fried, the billionaire behind the spectacular FTX fraud. His book is a bestseller, but some critics say he went too easy on S.B.F. Lewis…
Standing in line represents a particularly sloppy — and frustrating — way for supply and demand to meet. Why haven’t we found a better way to get what we want?…
It’s an acutely haphazard way of paying workers, and yet it keeps expanding. We dig into the data to find out why.
Three former White House economists weigh in on the new tax bill. A sample: “The overwhelming evidence is that the trickle-down, magic-beanstalk beans argument — that’s just nonsense.”
It’s hard enough to save for a house, tuition, or retirement. So why are we willing to pay big fees for subpar investment returns? Enter the low-cost index fund. The…
It used to feel like magic. Now it can feel like a set of cheap tricks. Is the problem with Google — or with us? And is Google Search finally…
Incarcerated people grow crops, fight wildfires, and manufacture everything from motor oil to prescription glasses — often for pennies per hour. Zachary Crockett reports from North Carolina….
…pay, this means that the professor rakes in about three times the amount being auctioned. This is an example of what auction theorists call an “all-pay” auction, and it’s a…
Photo: juggernautco Last week, Chicago mayor Rahm Emanuel announced that he’s rolling out a merit pay program specifically for school principals, using $5 million in donated funds. The plan is…
The former YouTube C.E.O. — and sixteenth Google employee — died on August 9, 2024. Steve talked with her in 2020 about her remarkable career, and how her background in…
The restaurant business model is warped: kitchen wages are too low to hire cooks, while diners are put in charge of paying the waitstaff. So what happens if you eliminate…
(Photo: Steve Jurvetson) From the (Saskatoon) Star-Phoenix: When Jason Childs and his colleagues went about devising a new course in economics at the University of Regina, they wanted to find…
He has been a lawyer, an instructor at the F.B.I. Academy, the owner of a frozen-yogurt chain, and a winner of the TV show Survivor. Today, Kwon works at Google,…
Also: What’s the best way to handle rejection?…
Is there any scientific basis for the law of attraction? Are people who believe in “cosmic collaboration” more successful? And what happens when you write yourself a check for $10…
Adam Smith famously argued that specialization is the key to prosperity. In the N.F.L., the long snapper is proof of that argument. Just in time for the Super Bowl, here’s…
Backers of a $15 federal wage say it’s a no-brainer if you want to fight poverty. Critics say it’s a blunt instrument that leads to job loss. Even the economists…
It used to feel like magic. Now it can feel like a set of cheap tricks. Is the problem with Google — or with us?…
Just beneath the surface of the global economy, there is a hidden layer of dealmakers for whom war, chaos, and sanctions can be a great business opportunity. Javier Blas and…
Just beneath the surface of the global economy, there is a hidden layer of dealmakers for whom war, chaos, and sanctions can be a great business opportunity. Javier Blas and…
New research finds that bosses who went to business school pay their workers less. So what are M.B.A. programs teaching — and should they stop?…
How does bail work — and who’s really paying? Zachary Crockett follows the money….
Harvard economist Raj Chetty uses tax data to study inequality, kid success, and social mobility. He explains why you should be careful when choosing your grade school teachers — and…
…design is very different when bidders’ ability to pay is less than their willingness to pay. Consider a small college that is trying to auction the naming rights for a…
It’s one Los Angeles boutique owner’s answer to the pay-what-you-wish pricing scheme: only open your store to customers you want to let in — and set prices on the spot…
