Charlie Plott gave us the Fundamental Equation for an economic explanation. The simplified version is Preferences + Beliefs + Institutions = Outcomes…
You’re reading Economic Forces, a free weekly newsletter on economics, especially price theory, without the politics. You can support our newsletter by…
Garrett Scott | Airline Pricing, Refunds, and the Role of Price DiscriminationListen now | Episode 9 of the Economic Forces Podcast
The (sometimes) elusive role of knowledge in most economic models
Thinking About Settlement on Bitcoin's Lightning Network
Easier said than done
Henry Thompson | Mafia Courts and Contracting without the LawListen now (58 min) | Episode 8 of the Economic Forces Podcast
You’re reading Economic Forces, a free weekly newsletter on economics, especially price theory, without the politics. You can support our newsletter by…
Learning-by-doing and human capital models turn supply upside down
If one takes a casual look at the gold standard era, there are some perplexing observations. For example, when countries would go to war, they would…
What if high prices are good?
Claudia Williamson | Institutions, Economic Development, and Policy HumilityListen now (55 min) | Episode 7 of the Economic Forces Podcast