Social software is ripe for a major wake-up call. Right now, just like in the early days of the portal wars, everyone is focused on traffic and page views (the much maligned eyeballs). MySpace has XX users! Facebook has XXX pageviews/user! YouTube is growing at XX% per month! While the economic and business model are […]
Selecting Ed Lazear as head of the Council of Economic Advisors is actually a very strong ideological statement by Bush Jr. I actually am very familiar with Ed Lazear’s work, especially his seminal book “Personnel Economics” because this was what I was studying in grad school. I wanted to apply microeconomic theory to the inner […]
Today I did a Google & Yahoo Search and found the first result in Google and 2nd result in Yahoo! Search to be the About.com page for economics, which is actually horrible, because the “expert” on this page is this 2nd rate econ grad student who goes on and on about the “FairTax” - some […]
One interesting thing about economic research was the importance of theorizing human behavior (although humans are always profit & benefit maximizing and cost-minimizing in econ models) before analyzing the data. It was actually “verboten” to use data mining techniques to identify a pattern, and then tell the story, because 1) econ has serious p-envy (physics envy) and likes to follow […]
In my first blog entry, I wrote about how the reason I started econ grad school was because of Ronald Coase’s 1937 essay. Ronald Coase’s main idea was that the reason there are such things as “firms”, is because there is a nontrivial transaction cost, or the cost of organizing market transactions.
This got me thinking […]
