Economic Logic

We all know politicians lie, no surprise here. What we do not quite know is how and why they lie. Indeed, they generally do not tell outrigh...

In countries where some parliament chamber allocates the same number of seats to each member state regardless of its population, small state...

When we think about a social planner that maximizes welfare by assigning optimal allocations without an explicit price system, we are really...

Yes, this is the seventh year of blogging. Will I enter a a prolonged slump like some faculty do after obtaining tenure? Am I due for a sabb...

Social mobility has been much studied to understand how the poor have a shot at becoming rich and how the rich manage to preserve their stat...

A major difference between American and other universities is the professionalization of their administration. Typically, they are managed b...

Generally, frictions in markets are viewed as something to avoid, except in rare cases like when they prevent excessive and damaging volatil...

Many people are thinking about the Chinese economy, and all too often they apply for this the tools they are used to, for example models wit...

You may think that accounting practices are straightforward and have been in place for a long time. Actually, good practices are actually fa...

Why do immigrants americanize their name? Evidently, they feel that this will help them integrate into the host society and bring them some ...

In Economics, it is standard practice to discount future periods and generations. This is done throughout economics fields, even in the valu...

The elasticity of intertemporal substitution is one of the most estimated parameters in Economics. Why is it estimated over and over again? ...

When it comes to extracting money from clients, you cannot deny that attorneys have learned their Economics. You cannot say the same about t...

Why did the Great Recession spread outside the United States? In particular, why did almost all Western industrial countries enter a deep an...

I have been pondering for a while what to do with my blog, Economic Logic . My job responsibilities have made it difficult for me to attend ...