Month: April 2015

Reading Ronald Coase

Are you a well-read economist? You aren’t if you cannot appreciate the Coase Theorem. (That theorem is one of the most cited in all of academic literature. Note, not just econ literature but all academic literature.) In other words, understanding… Read More ›

Pohela Boishakh, Vishu, and Puthandu Greetings

It’s a new year for the people of Bengal, Kerala and Tamil Nadu. Happy New Year wishes. ॐ सर्वे भवन्तु सुखिनः सर्वे सन्तु निरामयाः । सर्वे भद्राणि पश्यन्तु मा कश्चिद्दुःखभाग्भवेत् । ॐ शान्तिः शान्तिः शान्तिः ॥ Om Sarve Bhavantu Sukhinah… Read More ›

Rich People Spend More

It is very satisfying when research corroborates naive intuition. We expect water to flow downhill and when research after much painstaking data analysis concludes that indeed water flows downhill, it is a valuable addition to human knowledge and understanding. Switching… Read More ›