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Tuesday, November 30, 2010

Two interesting statements

In this article concerning the St. Louis Cardinals:

1. "City officials acknowledge that they have never really kept tabs on the agreement."

The "agreement" refers to the "contract" signed between the St. Louis Cardinals and the city of St. Louis in exchange for public dollars to subside Busch Stadium III.

"Several city officials, including Barb Geisman, the former deputy mayor for development, said there was no reason to double-check. They trust the Cardinals.

Didn't someone once say "Trust but verify"?

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Wednesday, November 24, 2010

Will new screening technologies increase deaths?

The last line from this story:
"The Orlando International Airport officials suggest travelers arrive at least two hours before their flight."

This increase in the amount of time it takes to fly (remember it used to be 'get to the airport one hour before your flight') will likely make driving more appealing to many. This is on top of the fact that the new technology might be viewed as too intrusive for comfort.

The upshot is that if the new technologies and screening processes at the airport make more people drive and thus these people are taking more dangerous modes of transportation on a per-mile traveled basis, more people could end up dying or injured because of the substitution effect created by the increased time it takes to fly.

This would make an interesting master's thesis - whether there are more automobile fatalities, injuries, accidents, this holiday traveling season, all else equal, because of the new technologies. The only problem I see empirically is that the entire U.S. traveling public has been impacted by the new screening processes so it would be hard to find the control group. Perhaps you could use accidents on roads between cities/towns where there are no major airports versus roads between cities/towns that do?

Thursday, November 18, 2010

When is a home game not a home game?

"The Hoosiers will pocket $3 million Saturday for playing Penn State at FedEx Field in Landover, Md."

Why not play every "home game" somewhere else? Okay, that's a bit extreme, but the Hoosiers stand to get a big pay day by moving their home game against Penn State some 600+ miles to the East.

Indiana to cash in against Penn State at FedEx Field

One of the costs of hosting the Olympics

The Olympic Village in Vancouver is, by all accounts, a beautiful development. However, the market for luxury condos is not so brisk and there is concern that taxpayers might be on the hook for part or all of C$740m!!

Olympic village falls into receivership as city takes control

Why the 12 team conference?

Here is one reason why (big-time) football conferences like the twelve-team format. The title game yields about $20m per year for the conference.

Fox lands Big Ten's football title games

Sunday, November 14, 2010

QEII Explained

Very funny - and pretty much on point:

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Saturday, November 13, 2010

Interesting maths at Popular Mechanics

From imgur.com

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Thursday, November 11, 2010

Does it get any better than this?

The headline from the Los Angeles Times says it all. We have run down the eighth rabbit hole.

Joe Biden update: The VP meets on government transparency today. But that meeting is closed

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Tuesday, November 09, 2010

Some of what is wrong with economics today

On page 1313 (actual page 14) of the current issue of the American Economic Review has this very intuitive and, of course, easy to implement statement:

The optimal donation aj by a citizen satisfies the first-order condition, which in a symmetric equilibrium is

Does the author really think that individuals behave according to this equation? If not, then why should we? If so, then what?


Monday, November 08, 2010

And people think economics is confusing

Tuesday, November 02, 2010




Le Chai - galerie du vin



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Recent Posts

- Two interesting statements

- Will new screening technologies increase deaths?

- When is a home game not a home game?

- One of the costs of hosting the Olympics

- Why the 12 team conference?

- QEII Explained

- Interesting maths at Popular Mechanics

- Does it get any better than this?

- Some of what is wrong with economics today

- And people think economics is confusing

- http://i.imgur.com/jlBbr.jpg



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