Tag Archives: economics

Crunch hits Westminster Tories

Due to the credit crunch we have decided to reduce the price of a ticket for the Burns’ Supper from £55 to £50. Those who have purchased their ticket(s) will be refunded the difference.
You know the crisis is serious when the crunch affects the Cities of London and Westminster Conservative Association.

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Action bias or asymmetric incentive structures?

Thanks to Paul Kedrosky’s excellent blog, Infectious Greed, I came across the following paper on perceived ‘action bias’ among goalkeepers.
An analysis of 286 penalty kicks in top leagues and championships worldwide shows that given the probability distribution of kick direction, the optimal strategy for goalkeepers is to stay in the goal’s center. Goalkeepers, however, almost [...]

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The four types of obvious

This illustration of Chris Anderson’s ‘four types of free’ is a good way to visualise the typology.
What I find odd about this kind of typology is how, well, obvious it is. It seems that the new age web gurus (Anderson, Shirky, et al) have some kind of magical ability to convince people that the really [...]

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Taleb at the LSE

“I promised you a boring lecture,” said Nassim Nicholas Taleb, as he launched into his third slide of dense stats-speak at the LSE’s Sheikh Zayed Theatre last night. However, despite this disclaimer, his talk was far from dull. A combination of intense personal arrogance - he suggests that the ‘idiots’ Bernake and Greenspan should be [...]

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Evidence of intelligent life online

Around a year ago, I discovered Spiked, and was delighted. Intelligent life on the web! A couple of months later, I found TED and had a similar feeling. Today (thanks to Marginal Revolution) I have just discovered Edge and it’s ‘Short course in behavioural economics‘. Between the adult material and the trash, there is intelligent [...]

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Restraining utility prices is rarely a good idea

Reading an comment-piece about Californian water shortages on Forbes.com reminds me of my work on the Dominican electricity system a couple of years ago. Artificially restrained prices are common to both markets, (although in Santo Domingo, there were the additional problems of institutional disorganisation and widespread consumer theft). I can’t help but wonder for how [...]

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